Hey..Pierre Omidyar Announces "First Look Media" Press Release and Details from Jay Rosen
Pierre Omidyar Announces "First Look Media" Press Release and Details from Jay Rosen
Published on Thursday, December 19, 2013 by Press Think
A First Look at NewCo’s Business, Journalism Structure
Today Pierre Omidyar announced some details about how his new venture in news will be organized
by Jay Rosen
Pierre Omidyar. (Photo: Forbes)
FIRST THE PRESS RELEASE:
PIERRE OMIDYAR PROVIDES INITIAL FUNDING OF $50M TO ESTABLISH FIRST LOOK MEDIA
Honolulu – Dec. 19, 2013 – The news organization created by Pierre Omidyar (formerly dubbed “NewCo”) has taken another step forward with an infusion of $50M in capital to fuel operations being established on both coasts.
Omidyar, who provided the funding, will also serve as the organization’s publisher. Omidyar’s first capital outlay represents 20 percent of his initial commitment to the media venture. First Look Media will publish robust coverage of politics, government, sports, entertainment and lifestyle, arts and culture, business, technology, and investigative news.
“This initial capital is the first step of many to bring the vision of this news organization to life,” said Omidyar. “I am deeply committed to the long-term effort to build a new and exciting platform for journalism — one that not only provides the innovation and infrastructure journalists need to do their best work, but that brings their reporting and storytelling to the widest possible audience.”
First Look Media is made up of several entities, including a company established to develop new media technology and a separate nonprofit journalism organization. The journalism operation, which will be incorporated as a 501(c)(3), will enjoy editorial independence, and any profits eventually earned by the technology company are committed to support First Look’s mission of independent journalism. The name of First Look Media’s initial digital publication is yet to be announced.
First Look Media is currently securing space and setting up operations in New York City, San Francisco, and Washington, D.C. The team is actively recruiting in all areas of its operations.
MORE HERE ON DU AT THIS LINK:
http://www.democraticunderground.com/1269486
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