Despite a history of disappointment, hyperlocal news continues to attract believers

You might have heard: Jim Brady is taking another shot at local journalism with new venture, Brother.ly (Poynter) and Corner Media expands its network of Brooklyn blogs (New York Times)

But did you know: Hyperlocal news has attracted, and ultimately disappointed, hundreds of entrepreneurs over the years, including the CEO of AOL, but that hasn’t stopped former Project Thunderdome head Jim Brady or the founders of Brooklyn’s Corner Media from betting on the success of hyperlocal news networks, writes Mathew Ingram.

TBD and Philly aren’t “hyperlocal,” they’re regional plays — “hyperlocal” is now as useless as “convergence” in that it’s used so broadly as to be meaningless, tweets Jim Brady (@jimbradysp)

+ Noted: The Washington Post is launching Storyline, “a new approach to helping you understand the big problems and policy debates in America” (Washington Post); 16 projects receive support to test ideas through the Knight Prototype Fund(Knight Foundation)

+ Keep an eye on these guys: LinkedIn has a new twist on native advertising, with Mercedes-Benz using the professional networking website to promote its 2015 C-Class line (New York Times); Google’s quarterly results show its continuing struggle with mobile advertising (New York Times); Facebook is hoping its new Mentions app is a Twitter-killer (VentureBeat) and Facebook is testing a buy button in ads and page posts (Marketing Land); Twitter is expected to unveil as many as four new metrics that will show breadth of its audience (Wall Street Journal);Twitter buys CardSpring to start selling goods within its tweets (Gigaom); Amazon officially launches Kindle Unlimited: Unlimited reading and listening on any device for $9.99/month (Amazon)