What The Pegasus News Buyout Means

July 18th, 2007 @ 3:23 am | David Krug | 0 comments

I read this Press Release Today:

As part of its initiative to develop new online-only content for its key local markets, Fisher Communications, Inc. (NASDAQ:FSCI) announced today that it has acquired online start-up and hyper-local media pioneer Pegasus News, which specializes in providing personalized local news, information, and advertising. The acquisition underscores Fisher’s commitment to expand its Internet presence by offering a deeper, richer, more highly localized online experience for its audiences. Fisher plans to take Pegasus’s news, information and advertising model to additional U.S. markets in the coming year.

Financial terms were not disclosed.

Fisher Communications owns a bunch of Radio Stations in the Northwest. I think its exciting that local radio realizes that the internet is a great place to build online and I have a feeling they are looking to use the Pegasus News Platform and staff to help build communities in markets they already hold share in. Again reaffirming my belief that local markets are going to be huge if not huger than anything you can do online.