Rupert Murdoch's News Corp has acquired social media news agency Storyful in a deal worth €18m (£15m).
The media giant said Storyful, which gathers and verifies news broken and shared on social networks including Twitter and YouTube, will "operate as a stand-alone business unit within News Corp."
“Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content,” said Robert Thomson, Chief Executive of News Corp.
“Through this acquisition, we can extend the village square across borders, languages and platforms.”
Storyful founder Mark Little said: "In News Corp, we found a big company prepared to think like a start-up."
Rupert Murdoch has been invited to re-appear before the Commons Culture Media and Sport committee. It comes after a recording emerged of him apparently telling journalists he regretted the level of co-operation given by News International to the investigation into phone hacking and illegal payments.
In one clip from a secret audio recording obtained by Channel 4 News, Rupert Murdoch is heard branding police "totally incompetent" and damning the Scotland Yard inquiry into corrupt payments to public officials.
"It's the biggest inquiry ever, over next to nothing," he says.
An MP has called for police action after Rupert Murdoch was apparently recorded telling journalists he regretted the level of cooperation over phone-hacking and illegal payments.
Labour MP Tom Watson called for police to question Mr Murdoch over the alleged comments, telling Channel 4 News:
What I would like to know is what are they sitting on that they've not given the police. And I'm sure that this transcript and this audiotape should be in the hands of the police tomorrow because I hope that they're going to be interviewing Rupert Murdoch about what he did know about criminality in his organisation ...
Rupert Murdoch told Parliament one thing and told his staff another. He told Parliament that he was fully co-operating with the police, he told his staff that it was a mistake they were co-operating with the police.
Rupert Murdoch also appears to suggest in the recording, broadcast by Channel 4 News, that any journalists who were convicted and jailed in connection with the phone-hacking inquiry could get their jobs back. He is heard saying:
I will do everything in my power to give you total support, even if you're convicted and get six months or whatever.
You're all innocent until proven guilty. What you're asking is: what happens if some of you are proven guilty? What afterwards?
I'm not allowed to promise you - I will promise you continued health support - but your jobs. I've got to be careful what comes out - but, frankly, I won't say it, but just trust me.
A spokesman for News Corp told Channel 4 News: "Rupert Murdoch has shown understandable empathy with the staff and families affected and will assume they are innocent until and unless proven guilty."