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October 7, 2007 acquires social news site Newsvine

Posted by David Hunter at 8:10 PM ET., the 50/50 partnership of Microsoft and NBC, today announced that it had acquired Newsvine com, one of the new breed of “social news” Web sites. The all cash deal was effective October 5, but the price isn’t being disclosed.

According to the Newsvine Blog, Newsvine will continue to operate independently, but “Over the next few years, Newsvine technology and content will make its way onto, and vice-versa where it makes sense.” obviously wants a play in the burgeoning social news world and Newsvine felt the need of the MSNBC cash and audience to achieve the next stage of growth.

Filed under Acquisitions, Alliances, Coopetition,, Microsoft, NBC

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