News Corp is selling programmatic video marketplace Unruly to Tremor International.
The deal gives News Corp 6.91% of Tremor International stock, worth around US$20 million. Tremor is also required to spend a minimum of GBP$30 million (US$39 million) with the publisher.
News Corp initially bought Unruly for around US$176 million in 2015.
The two companies will also enter a three-year partnership which gives Tremor exclusive right to sell outstream video on more than 50 News Corp titles in the UK, US and Australia.
“The sale of Unruly marks an important step in our strategy of simplification at News Corp, while we expect it to yield ongoing financial benefits,” says Robert Thomson, News Corp chief executive.
“We look forward to partnering with Tremor and are grateful to Unruly and its truly talented team, who have helped our businesses in the U.K., US and Australia advance their digital advertising expertise.”
Unruly CEO Norm Johnston says Unruly will leverage Tremor’s wide-ranging formats, such as TV and in-app.
“Together we’ll bring the power of emotions to video advertising to drive better results for advertisers, higher levels of engagement for consumers and more revenue for publishers,” Johnston says.
“We are also grateful for the opportunity for Unruly to continue partnering with News Corp and its businesses around the world, with whom we have worked so closely and productively for years. And News Corp benefits from the transaction both financially and by having found a partner to take Unruly forward and drive digital outstream revenues.”
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