noon, May 28
San Diego News Network Says It Will Expand to 40 Cities
San Diego News Network, an online publication, intends to expand into 40 cities in the U.S. and Canada, according to a news release sent out this week. The company says it will create a parent, U.S. Local News Network, to help effectuate the move. The company recently launched its second site in southwest Riverside County. It plans to have a third site in Orange County. Neil Senturia, chief executive, says, "Our success in Southern California has exceeded all internal projections...We feel that our business model is the future for how local news will be reported and consumed." A number of former Union-Tribune staffers write for the publication, which concentrates on softer news and features.
On Aug. 4, the company filed with the Securities and Exchange Commission a document indicating that it intended to sell stock, options, warrants or other similar instruments. The total offering was to be $2 million, with $707,220 then sold and $1,292,780 still to be sold. The company declined to disclose its revenue.
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