The site was originally owned by PanLocal Media LLC.
In 2007 the website was acquired by Fisher Communications, who said that they planned to use the Pegasus model for their television stations' websites.
Pegasus News won a Katie Award from the Dallas Press Club in 2008 for "Best Web Site".
In 2009, Gap Communications, a company specializing in mid-sized radio markets, acquired Pegasus News.
In July 2012, Pegasus News was acquired by The Dallas Morning News. The website was closed in February 2014.
Barker-Vormawor, who once accused state operatives of hacking his phone told GhanaBusinessNews, the absence of public discourse about Pegasus isn’t surprising.
