Scripps Networks Interactive said it's reached a deal to buy Spoon University, a millennials-focused media company that already supplies content to SNI's Food Network.
“Spoon University captures the grassroots passion for food and community that is so important to millennials today,” Kathleen Finch, SNI's chief programming, content & brand officer said in a release. “Food Network has become a significant force in digital and social food storytelling over the course of the last year, and this acquisition will provide us with the opportunity to build content, community and brand as we seek to accelerate our strategy in the sector.”
Spoon University was created in 2013 at Northwestern University by Mackenzie Barth and Sarah Adler and draws 4 million consumers to its site monthly and also pulls in video viewers and social-media users. It draws on 8,000 "storytellers" in 200 college-campus chapters in this country and Canada, India and Europe. Scripps said it would use the acquisition to help reach new audiences and monetize content on different platforms, and also help Spoon University grow into other content sectors.
Since launching Scripps Lifestyle Studios in December 2015 to produce digital fare, the studios have delivered more than 5 billion views across various platforms, the company said.
Acquisition terms were not disclosed.