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Fox Interactive Acquires News Aggregator NewRoo

This was the acquisition which had been speculated for a while after FIM president rather carelessly tossed out the news at an event two weeks ago. TechCrunch says it is NewRoo, an as-yet-unlaunched news aggregator, something I heard from competitive sources as well. Yahoo considered putting in a counter-bid after they heard the news about FIM bid.

TechCrunch says the price was in single digital (Thanks Jeff) millions. A review of the service is here.

SiliconBeat: This company had no venture backing. However, the deal is still in the termsheet stage, and should take a couple of more weeks to close. After the deal closes, the team will be leaving Silicon Valley, and joining Fox’s headquarters.

One Response to “Fox Interactive Acquires News Aggregator NewRoo”

  1. Rafat Ali

    I didn't claim it was our scoop..i didn't have enough to run with initially..when techcrunch got the story i went back and they confirmed it.
    that's how the game works..
    but thanks