We’ve been talking about citizen journalists and news sites where readers write the news for some time now. The trend has reached a point where some think it’s worth investing some money. According to a Washington Post story,

Several notable ventures have launched or raised money this year to create local news sites online in which readers contribute all or most of the news. The big idea is that citizen-generated content lowers costs and creates more loyal audiences.

The investment is spurred by the payoff of advertising dollars spent to target ads at a local level.