E W Scripps buys satire platform Cracked for $39m

E W Scripps Company, the US publishing and over-the-air broadcasting company from which international pay TV outfit Scripps Networks Interactive was spun off in 2008, has acquired multiplatform satire brand Cracked for US$39 million.

Cracked provides entertainment content via a high-traffic website, mobile apps, original digital video, social media and a popular podcast. The service is regularly ranked first or second among US comedy sites according to comScore data.

Some 50% of Cracked.com’s audience goes directly to the site and users spend an average of eight minutes engaging with text and video, according to E W Scripps. Cracked had 2054 revenues of US$11 million.

According to E W Scripps, Cracked will add to its growing portfolio of digital and OTT brands. The company last rear published podcast specialist Midroll Media and revamped its OTT video news brand Newsy, securing distribution deals with Sling TV and Apple TV.

“Cracked is a natural extension of the Scripps strategy to take a leadership position in high-growth content marketplaces,” said Adam Symson, Scripps’ chief digital officer.

“Scripps will help Cracked reach new and larger audiences as it continues to build its brand on the web, in over-the-top video and audio and on other emerging platforms.”