Yahoo Inc. is buying freelance news site Associated Content in a deal that will add a more folksy touch to one of the world’s biggest websites.
Financial terms weren’t disclosed.
The acquisition announced Tuesday will enable Yahoo to supplement its regular lineup of stories by full-time reporters with independently produced material that typically isn’t covered by traditional media outlets.
Associated Content, launched in 2005 by Luke Beatty, bills itself as “the people’s media company.” It has developed a low-cost news model that relies on about 380,000 freelancers who share their expertise on a variety of subjects.
The material includes how-to advice, review, opinion pieces and coverage about what’s happening in neighborhoods around the United States.
The stories evidently are striking a chord: Associated Content attracted 16 million visitors last month, according to comScore Inc. That exceeded the roughly 14 million people who visited The New York Times’ Web site last month, comScore said.
Yahoo plans to sprinkle Associated Content’s contributions throughout its news, sports, finance and entertainment sections. Yahoo will continue to publish stories that it gets from newspapers, its own editorial staff and outlets that include The Associated Press.
Associated Content “gives us more local gravitas,” Yahoo CEO Carol Bartz said in a Tuesday interview.
By providing more parochial stories, Yahoo hopes to widen its audience and create more opportunities to sell online ads tied to the neighborhoods or topics that Associated Content’s freelancers are covering. Yahoo has been slumping for most of the past four years because it has been losing online ad revenue to rivals such as Google Inc. and Facebook.
Yahoo’s decision to expand the breadth of its local coverage is similar to a strategy being pursued by AOL Inc. as its CEO, Tim Armstrong, tries to turn around that company.
AOL is trying to build two low-cost local news sites, Seed.com and Patch.com.
Armstrong stands to personally profit from Associated Content’s sale because he is among the startup’s early investors and even served as its chairman until two years ago. He helped fund Associated Content while he was still a top advertising executive at Google.
Associated Content’s CEO, Patrick Keane, used to work at Google with Armstrong.
Yahoo plans to close Associated Content’s website after it completes the acquisition in the third quarter.
Directors Amy+Pilar and Jose Antonio Prat Join Reform School
Boutique content production company Reform has added comedy directing duo Amy+Pilar (Amy York Rubin and Pilar Boehm) and award-winning multicultural director Jose Antonio Prat to its roster for U.S. representation spanning commercials and branded entertainment.
Partners in both life and art, Amy+Pilar are know for their sharp wit and comedic timing. Their synchronicity is evident in a body of work across TV, film and commercials. Prior to joining Reform School, Amy+Pilar had been repped in the ad market by production company Knucklehead.
Amy has directed high-profile comedy sketches featuring stars like Amy Schumer, Kate McKinnon, and Sarah Silverman. On the episodic front, Amy has helmed for series such as Fresh Off the Boat, Casual, Superstore and Angie Tribeca--as well as the pilot for the hit Netflix comedy Dead to Me.
Before joining forces with Amy behind the camera, Pilar was a psychotherapist, a background that informs her ability to create fascinating characters and stage irresistible, nuanced performances. Amy and Pilar’s shared passion for comedy brought them together. Their collaboration began with a Synchrony Bank campaign, starring cult-comedy favorite Maribeth Monroe (Workaholics), and they went on to direct the pilot of the Hulu series Love, Victor. Amy+Pilar’s ad fare also includes spots for Uber’s “Go-Get” campaign and “Shift,” starring Martin Starr.
“We have been fans of Amy and Pilar for a long time,” said Ryan Ennis, executive director at Reform School. “They excel at capturing comedic performances and dialogue. Coming from the TV and L.A. comedy scenes, they’ve built a strong following and collaborated with some of our favorite funny people.... Read More