News aggregator and search engine Topix.net announced a new round of funding in which its newspaper owners, Gannett, Tribune Co. and McClatchy, have invested $15 million in the site to help further develop it. According to Hitwise, Topix has been on a tear and, according to the company itself, is now a "top 25" news site. Over the course of the past year Topix has had success developing community forums and has launched local classifieds. The site also recently implemented a news archive search.
I have more discussion of the investment and its potential implications for newspapers on my blog.
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