Business Insider Investors Unveil Local News Startup

Associated Press: A handful of new startups are tackling a thorny problem that AOL couldn’t solve with zillions of dollars: How to cover local news in different cities without going broke. The latest entrant is the brainchild of three media execs who want to launch a string of sites in mid-size cities, starting with Denver. Their first site, Denverite, launched on June 14 with a staff of nine and an expected annual budget of $1 million.