Fisher Communications Acquire Pegasus News

Fisher Communications, a Seattle-based communications company that owns and manages 19 television stations and eight radio stations in the Pacific Northwest, has acquired Pegasus News in a move to expand hyper-local news.
Pegasus News, which specializes in providing personalized local news, information and advertising in the Dallas area, has been an early success in the nascent business. Fisher said it plans to take Pegasus’s news, information and advertising model to additional US markets in the coming year.
“Our acquisition of Pegasus News exemplifies Fisher’s mission to connect people with their local communities,” said Colleen Brown, President and CEO of Fisher Communications. “While the Internet has made the world accessible at the click of a mouse, it’s still often a challenge to find out what’s happening around the corner.”
Hyper-local news would create major new competition for local television, radio and newspapers, especially those weak on newsgathering, reporting and in providing in-depth local information.
Terry Heaton, Senior Vice President, Media 2.0, for audience research and development, said that by acquiring Pegasus News, Fisher not only helps itself develop powerful Web verticals in its own markets, but it also now has the ability to create revenue plays in virtually any market in the country.
(DS/SP)