Arianna Huffington from The Huffington Post is potentially seeking funding for her new venture into investigative journalism, according to Robert MacMillan from Reuters. The details of this are hazy at the moment but given the fact that traditional media is crumbling at a rapid pace, a vacuum has been created in many areas of journalism. But there are many folks who would be willing to fund and many others willing to come in and fill this void:
Huffington’s website is small compared with big professional publishers, but it looks like she’s latching on to a growing trend. Mark Cuban, who was charged by the Securities and Exchange Commission with insider trading on Monday, is financing several investigative journalism ventures, including former CBS newsman Dan Rather’s reports. Two other projects that he has funded, sharesleuth.com and bailoutsleuth.com, seek to expose financial wrongdoings as well as poorly thought out ways to spend Wall Street bailout money amid the financial crisis. Both are trying to tackle big projects that it is becoming increasingly hard to pay for at many traditional media outlets.
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[...] appeared to be a chance at discussing a possibility to raise funds for investigative journalism turned out to be a solid and signed round worth $15 million for the [...]