Fisher Invests In DataSphere
February 1, 2010 at 2:20 PM (PT)
FISHER COMMUNICATIONS, INC. has invested $1.5 million in DATASPHERE TECHNOLOGIES, INC., a "Software as a Service" Web technology and hyperlocal ad sales company with which FISHER has partnered in several hyperlocal neighborhood websites. The investment was part of DATASPHERE's $10.8 million Series B preferred stock financing round and provides Fisher a minority equity stake in the firm. FISHER's Pres./CEO COLLEEN B. BROWN has joined DATASPHERE's Board of Directors.
"Technology is transforming the media industry and, as a result, broadcasters need to find new, innovative ways to grow our advertiser base and extend the reach of our valuable brands and content," said BROWN. "We are combining DATASPHERE's proven technology and sales solutions with our deep community connections and other traditional strengths to create a series of neighborhood websites that allow us to better serve our viewers, listeners and business partners and diversify our sources of revenue. We look forward to working with DATASPHERE to bring this successful platform to other local media companies across the country."