Scripps Buys Cracked for $39 Million
Posted on May 17, 2016
Scripps has acquired the humor brand Cracked. The ad-supported Cracked runs a website, apps and a podcast. It also creates original video. Cracked is known for blending humor with satire and social criticism.
Scripps purchased Cracked from Demand Media for $39 million. Cracked had revenues of around $11 million in 2015. Scripps says the company is profitable. Cracked will continue to operate from its Santa Monica offices and will be led by Mandy Ng Rusin, general manager and vice president, and Jack O'Brien, vice president and editor-in-chief.
Scripps CEO Rich Boehne says in the announcement, "Cracked is the expert in using clever humor to engage a younger audience that is very loyal to its brand. Its editorial vision brings a fresh perspective to the way the next generation creates and consumes news, information and entertainment."
Scripps shared this Cracked sizzle reel. The Cracked site can be found at cracked.com. Take a look: