Media Convergence Group (MCG), the company behind multi-platform news property Newsy.com, has raised $450,000 worth of a $2 million first institutional round of funding, per an SEC filing. Jim Spencer, MCG’s founder and president, said the money came from a group of Missouri-based private investors; he expects the round to close “within the next few months.” Newsy.com’s production studio is based in Columbia, Mo.
Founded in 2008, MCG beta-launched Newsy.com in April of this year; the site, which analyzes issues raised in TV newscasts, print articles and blogs, attracts about 30,000 uniques per month, per Compete. Newsy.com’s original video clips dig into the sources behind the stories, encouraging readers to visit sites like CNN.com, ABC News and even Focus on the Family to get more info. Spencer said the model has made it easier for MCG to broker content-licensing deals with bigger media companies, though he kept mum on specifics.
Newsy.com launched an iPhone app in October; Spencer said it had received “tens of thousands” of downloads, buoyed in part, by Apple (NSDQ: AAPL) featuring it as one of its “new and noteworthy” apps. The company is working on BlackBerry and Android versions of its app; Spencer also said syndication deals with cable, satellite and VOD providers were coming down the pike.