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U.S. Local News Network, parent of San Diego News Network, an online publication, has raised $3.18 million from investors, according to a recent filing with the Securities and Exchange Commission. Proceeds will be used to finance its expansion into other markets. Last September, the company's chief executive, Neil Senturia, announced plans to expand the publication into 40 markets, beginning with Riverside and Orange counties. A board member of the company is Gary E. Jacobs, philanthropist and son of Qualcomm founder Irwin Jacobs. Gary Jacobs worked for Qualcomm until 2000. Among many things, he founded High Tech High in San Diego. Another board member is Ernest H. Pomerantz,, managing director of StoneWater Capital LLC. He is considered an expert in the auto industry. The company, which refuses to reveal its revenue, says it has $335,000 more to raise to reach its offering amount of $3.52 million.

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Comments

SurfPuppy619 Feb. 22, 2010 @ 12:12 p.m.

http://www.sdnn.com/

Wow, this is the first I have heard of these guys. How long have they been up and running Don?

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Don Bauder Feb. 22, 2010 @ 3:21 p.m.

Response to post #1: Oh, they have been around for about a year. The publication features excellent movie reviews by David Elliott, music reviews by Valerie Scher, columns by Arthur Salm. These are ex-U-T people who do a bang-up job. There are others, too, who do good work. I like their sports reportage; Hacksaw Hamilton and others tell it like it is instead of puffing up the local teams, as the U-T does. Best, Don Bauder

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Ponzi Feb. 24, 2010 @ 8:02 a.m.

I enjoy the SDNN. They follow up on a lot of stories giving the details of disposition of cases, such as sentincing. Where the SDUT usually only reports the initial story and you never hear about it again.

SDNN is nimble and has the opportunity to become an online power that rivals the SDUT. SDNN understands the new media and SDUT is struggling with the old business model.

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Don Bauder Feb. 24, 2010 @ 2:06 p.m.

Response to post #3: I think yours is a good summation. At first I didn't read SDNN, but would always scan it. Then as it added talented people, and I began to read some articles, I realized it does have a good business plan. Now, whether it can expand to all these markets quickly is another matter. Also, if there is an IPO of the parent company, you can bet I won't buy in. Of course, I don't buy into any IPOs. Best, Don Bauder

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