As the president of Pegasus News, Mike Orren, describes his company's mission:

Pegasus News is a local news company that is reinventing the model of local market content and advertising.

Our beta test will take place in Dallas, Texas in late 2005. We will distribute content via a website, e-newsletters, RSS feeds, SMS messaging and any other medium we can think of. Except for carrier pigeons. They smell bad.

This blog is a diary of the evolution of our concepts; a buzz-builder; a beacon for like-minded media folk; and a way for us to communicate with our growing team.

To get a good idea of what this is all about, we recommend starting with the "Best of" links on the left side of this page. We talk about our key concepts on this blog, but (for obvious reasons) you're not going to get the full business plan here. Our key differentiators are:

-- Hyper-local content to the exclusion of all else.

-- Rich delivery via as many mediums as possible.

-- Subscription price predicated on level of engagement (higher engagement = lower price).

-- Almost exclusively pay-for-performance advertising. Regardless of medium.

We encourage you to join the conversation by commenting on any post, or by emailing us.