NowPublic sells out as part of ongoing hyperlocal news wave |
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NowPublic sells out as part of ongoing hyperlocal news wave
We've certainly seen a lot of activity in the hyperlocal news arena recently. And that consolidation wave continued this week with news that Vancouver, B.C.-based NowPublic -- an early entrant in the citizen journalism movement -- has been sold to billionaire Phil Anschutz's Examiner.com online media arm.
The companies didn't disclose the purchase price, but paidContent.org put the deal at about $25 million.
Examiner.com has grown rapidly in recent months, expanding to more than 16,000 volunteer writers who cover issues in more than 100 cities. (Including Seattle)
NowPublic -- which TechVibes notes had raised about $12 million in venture financing --has more of a global reach but it too relies on "citizen journalists" to report the news. One of the founders is Leonard Brody, who previously served as an executive at Seattle-based Onvia.
The deal follows Msnbc.com's purchase of hyperlocal news site EveryBlock, as well as moves by The Seattle Times and Fisher Communications to strengthen local news coverage.
Hyperlocal news guru Mark Briggs spoke about the opportunity for hyperlocal news in an interview with TechFlash last week.
"To me, it is that one untapped area especially for online advertising," said Briggs.
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