"Hyper-Local" Web Site Now Owned by Seattle Media Company. Welcome to the Club!
Congratulations to Mike Orren and Pegasus News, which has been acquired by Seattle-based Fisher Communications, a media company that owns some 27 media outlets in the Northwest. Financial terms haven't been disclosed yet, but they will be: Fischer's a high-priced NASDAQ-traded stock ($50.80, as of this morning) with extensive Securities and Exchange Commission filings for those so interested.
So, that's good news for the D-backed "hyper-local media pioneer," as the press release puts it. (Update: Pegasus bossman Mike Orren sends word that other initial investors in Pegasus News included Chris Bancroft, former Knight Ridder exec Chris Harte and former A.M. Journal Express mastermind Jeremy Halbreich.) According to Orren, the acquisition will mean more originally produced content and less stuff plucked from the "Pegasus News Wire," otherwise known as the Internet, or such media partners as The Dallas Voice and other local blogs and area university PR departments. Oh, and Mike, you will come to find that no matter how many times people refer to you as "Pegasus News, owned by Seattle-based Fisher Communications," it will never get old. --Robert Wilonsky