News broke this week that the founder of E-Bay is starting a news organization with major involvement by the reporter who broke so many stories about the NSA spying fiasco.
It will be a brand new, digital-only, full-scope media outlet. Plans are it will cover news, sports, and business in addition to hard-hitting investigative journalism.
Will be funded with an initial $250 million dollar investment.
Pierre Omidyar, the founder of E-Bay, was one of the people shopped as a possible buyer for The Washington Post earlier this year. Jeff Bezos bought the Post for reported $250 million.
Another frontier is open.
Mr. Omidyar decided to put the money he would have otherwise used to buy the Post into something completely new.