Fisher acquires Pegasus: Brilliant!
In what I view as the smartest move to date by any local media company, Fisher Communications of Seattle has purchased Pegasus News of Dallas. I know both groups, and I can’t think of a better marriage than this.
Fisher is run by some very smart people these days. Colleen Brown, CEO, and Rob Dunlop, Senior VP Developing Media, have a clear vision of tomorrow, and this acquisition proves they’re on the right track. Pegasus is run by Mike Orren, the smartest guy I know when it comes to hyperlocal data acquisition and running a website as a direct marketing tool.
But here’s what’s so incredibly visionary about this deal: not only will Fisher use the Pegasus platform to enhance its online offerings in the markets it currently serves, including Seattle and Portland, but they will also be able to build franchises in any market they choose. Pegasus currently serves the Dallas market, so Fisher has now opened shop another major market. This is smart and a profound statement of clarity as regards the ability of anybody to create any form of media anywhere these days.
In making this deal, Fisher has announced to the world its intention to develop more along the lines of an internet pureplay company than a Media 1.0 company using all its resources to expand its market reach. Brilliant!
Here’s the press release. Here’s Mike’s announcement to his users.
Fisher is a company to watch. My hat’s off to them.
(Transparency: Fisher is an AR&D client.)
July 17th, 2007 at 11:36 am
[…] 2. Fisher acquires Pegasus: Brilliant! Terry Heaton reports that Seattle’s Fisher Communications (owner of radio and TV stations in the Pacific Northwest) has picked up the Dallas-based hyperlocal site Pegasus and plans on spreading the concept. Compare and contrast to the recent failure of Backfence, dissected here by founder Mark Potts. […]
July 17th, 2007 at 4:10 pm
as i posted elsewhere… ‘F’in fantastic!’
refreshing to see that some are making an INVESTMENT in the future instead of trying to ignore it.
July 18th, 2007 at 7:42 am
[…] The editing of a single word from this 60’s Buffalo Springfield hit pretty much summarizes what’s going on in the broadcast world today as we are barraged with more evidence of significant changes in our industry but get little time to “…look what’s going down.” The announcement Fisher Communications bought PegasusNews.com is a welcome sign of a company with local broadcasting stations that is looking beyond trying to do business as usual on the web. Both Terry Heaton and Lost Remote have stories. Terry has been a big fan of Pegasus ever since moving to Dallas and here is the big “take” on this story as far as I’m concerned. Fisher which operates 12 full power and 7 low power television stations in the Northwest just bought themselves a media company in Dallas for, and I’m just guessing here, a lot less than what an established station would go for even in today’s climate. Smart move. […]