Media Convergence Group Lands Additional Funding for Newsy.com

Dec 11, 2009


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The Media Convergence Group, which owns and operates the news synthesis site Newsy.com, announced that it has secured the first $450,000 in a fundraising round with a total goal of $2 million. The funds came from a group of private investors based in Missouri. The company has not yet announced plans for the funs.

MCG's unique venture aims to provide multiple viewpoints on news stories, frequently featuring vastly divergent takes on a single story in an attempt to synthesize numerous perspectives into 2- and 3-minute long shorts. In addition to combining viewpoints, the service condenses numerous forms of media, ranging from cable news shows to newspapers and blogs. The company states that its outcome is to help people who may not have the time to consult multiple sources arrive at an informed, diverse opinion.

The company released an iPhone application earlier this year and has announced that it is currently working on developing versions of the app for Android and BlackBerry devices.

(www.newsy.com; www.mediaconvergencegroup.com)