McClatchy chain buys social media sites
The Fresno Bee, a newspaper owned by McClatchy — which also owns the Sacramento Bee and the Modesto Bee — has just acquired two community-media sites, FresnoFamous.com and ModestoFamous.com, for an undisclosed sum (hat tip to J.D. Lasica). The sites were founded by Jarah Euston, a former bond analyst who writes about the acquistion here. She and a small team built the websites up over the past two years to have 2,000 members and about 150,000 page views a month. The newspaper writes about the purchase here.
Related posts:
(On Dec 15th, 2006 at 5:37 pm)
[…] How all that happens exactly, I don’t know, but it is possible to do local journalism — SunValleyOnline.com seems to be doing well, and so does Baristanet. And the Fresno Bee, owned by McClatchy, just finished acquiring a couple of local sites that seemed quite successful: ModestoFamous and FresnoFamous. Did the founders sell because it wasn’t a viable business, or did McClatchy want them because they had something the chain needed? Perhaps a combination of both. […]
(On Dec 15th, 2006 at 5:43 pm)
[…] McClatchy chain buys social media sites […]