Street Fight Daily: 06.16.11

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A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.

In explaining the relevance of its new product, Geotagger, Fwix says that “LatLong” — latitude and longitude — is going to replace keywords as the standard for online ad buys, as daily deals and mobile usage become a greater part of publishers’ traffic and revenue streams. (PaidContent)

While Groupon may want to move its IPO forward quickly, to capitalize on the enthusiasm generated by a new wave of Internet-related stock debuts, it will likely have to wait until late summer, or possibly the fall, for its stock to be priced and trading publicly. (Marketwatch)

We believe the new deals environment leads could lead to a real shift in the nature of local commerce, writes Neal Polachek. In ten years, today’s local media business could even be a historical footnote, paling in comparison to a richer, more targeted “deals” space. (BIA/Kelsey Blog)

In February, Rockville, Md.-based hyperlocal news site Rockville Centra became a hyperlocal site without a site — moving all of its content to its Facebook page. Founder and publisher Brad Rourke offers eight lessons he and his team have learned from the move. (AllFacebook)

Besides, the hyperbole of hyperlocal isn’t sufficient to mask what’s really wrong with the concept. Terry Heaton gives five reasons that hyperlocal is not a smart move for media companies. (PoMo Blog)

Rocky Agarwal thinks daily deal providers like Groupon and LivingSocial may be violating several key aspects of consumer protection law. (TechCrunch)

The new business model for news and journalism is beckoning from every site that seeks first and foremost to build a community. To harness this model, news organizations need to think of themselves first as gathering, supporting and empowering people to be active in a community with shared values, and not primarily as creators of news that people will consume. (Nieman Reports)

While the recent FCC report is a welcome reminder of local online news’ limitations and failings, Josh Benton writes that there are a number of factors that complicate his findings a bit. Here are four reasons why he thinks the doom and gloom might not be spot on. (Nieman Lab)

According to a new study, 21.7 percent of deal buyers never redeem the vouchers they’ve already paid for. 55.5 percent of businesses reported making money, 26.6 percent lost money and 17.9 percent broke even on their promotions. (Daily Deal Media)

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