Monday, October 15, 2007

Picking Up the Investigative Tab

Monday, October 15, 2007

With news media outlets slashing investigative reporting budgets, a group of journalists and investors are stepping forward with a new model that they hope will fill the gap. Led by veteran Wall Street Journal editor Paul Steiger, the consortium of investigative journalists plans to "do long-term projects, uncovering misdeeds in government, business and organizations," according to The New York Times (

The intended non-profit organization, to be called Pro Publica, will be based in New York City and consist of 24 journalists. Slated to open early next year, the outfit will be funded by a $10 million per year commitment from the former chief executives of the Golden West Financial Corp ., according to the Times. Several other foundations have pledged more modest grants.

It will be interesting to watch the experiment unfold to see whether the output is picked up by professional media and whether the group can find sustained funding.

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