Open Tech Today - Top Stories

Tuesday, September 01, 2009

News Flash: Social Media News Acquisition

NowPublic, a social media news website, has been acquired by the, a local news network controlled by the Clarity Media Group (Philip Anschutz’s outfit).

The reported price tag: $25 million.

Apparently, citizen journalism sparks interest (and dollars) from Big Media.

And consolidation may help find a sustainable formula that balances coverage (NowPublic claims citizen reporters in over 100 countries) with operational efficiencies of scale.

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