Ghost of Midnight

… about neighbors, community and Front Porch Forum

Old Media Concern gobbles New One

Posted on Friday, July 20, 2007 by No comments yet

Pegasus News, a local media site covering the Dallas area, was recently acquired. This is one of the most touted “new media” sites… citizen journalism meets alternative weekly meets web 2.0 gadgets. From its blog

We’ve just sold Pegasus News to Fisher Communications (NASDAQ: FSCI), a publicly-traded TV and radio broadcasting company based in Seattle. While sales of companies are sometimes viewed as endings, this should be looked upon as a beginning — hopefully the beginning of a lot of cool things for you and for us.

Some call it a first of many such acquisitions… old, established and moneyed companies buying young cash-strapped ones with new ideas and fresh audience.

Posted in: Citizen Journalism, Local Online

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