Archives
Stealth Hyperlocal News Network Targets Newspaper Monopolies
By Steve Rubel
Expert Author
Article Date: 2004-11-29
A stealth project called Pegasus News plans to launch a beta test in Dallas in late 2005 to distribute local news content and advertising via the web, e-newsletters, RSS feeds, a daily print edition, SMS messaging and other mediums, according to an inside source who contacted me.
The source currently runs a division of a major media company. Pegasus plans to follow this initial effort with local advertising-supported news sites in 25 major U.S. cities that have a monopoly newspaper.
The company recently launched a blog to diary the evolution of their concepts. On their blog, the company's anonymous entrepreneurs say their key differentiators are:
Hyper-local news, with neighborhood coverage producing 10x the local news and information of the incumbent providers.
Open source journalism: The immediacy of blogging with the spelling, punctuation and fact checking of real journalists.
Edgy, insightful news with opinion and personality.
Fully integrated local news model: Website, email, text messaging, print, radio and TV.
Innovative subscription model: Price based on level of engagement - more active and engaged users pay less (or nothing).
Innovative advertising model: Pay-for-performance advertising on both digital and analog (print) products. Proprietary processes allow for performance tracking in real-time.
Lower cost structure than legacy media.
Experienced team with leadership experience across all media streams.
While not a lot is known about Pegasus right now, they certainly talk big. In particular they seem to be openly targeting Belo's newspaper group. Still, there are a few blog posts that point to what's up their sleeves. Start with their core principles, elevator speech and a post entitled Volume I, Number I and subscribe to their RSS feed.
About the Author:
Steve Rubel is a PR strategist with nearly 16 years of public relations, marketing, journalism and communications experience. He currently serves as a Senior Vice President with Edelman, the largest independent global PR firm.
He authors the Micro Persuasion weblog, which tracks how blogs and participatory journalism are changing the public relations practice.
FREE NEWSLETTERS
Sign up now and have updates
sent straight to your inbox, Free.
Submit Your Article
Business
Networking
Tips