A fast-growing local daily newsletter company “redefining the future of local media as the fastest growing newsletter-first local media company in the country” has closed a series A funding round led.
It was led by the owner of broadcast TV stations that Standard General was unable to purchase due to FCC Media Bureau concerns regarding the now-scuttled transaction.
Greenville, S.C.’s 6AM City saw TEGNA lead the funding round, which was “materially supported” by follow-on investments from existing stakeholders including American Investment Holdings, VentureSouth, and Harbright Ventures.
6AM City says it has grown to more than 1.3 million subscribers in 27 U.S. markets since it was launched in 2016. It’s motto, “Local Everywhere,” likely meshes strongly with TEGNA’s desire to have its local news distributed across every available media, with streaming online and through apps accompanying its broadcasts.
Thus, as part of TEGNA’s investment, 6AM will be including news and weather from the company’s local broadcast stations in its daily newsletters in overlapping markets, as well as promoting morning newscasts and integrating local sports headlines from “Locked On,” TEGNA’s local sports network.
Additionally, TEGNA and 6AM will be collaborating to launch newsletters in two additional markets, which were not disclosed.
“We are excited to partner with such a highly regarded local broadcast group whose values align so directly with ours,” said 6AM City CEO Ryan Johnston. “This partnership with an established and trusted network of local news and sports content brands across the country will accelerate our reach and ability to innovate across platforms.”
According to Axios reporter Sara Fischer, more than $10 million was raised in the series A funding round.
“We’re looking forward to extending the reach of our valuable local news, weather and sports content to new platforms and audiences through 6AM City,” said Adam Ostrow, TEGNA’s Chief Digital Officer. “6AM City has cultivated a highly engaged audience in their local markets. Our local content perfectly complements the daily, must-read information and updates 6AM subscribers have come to rely on in their city.”
