Former Vanity Fair and New Yorker editor Tina Brown announces the launch of an online project called The Daily Beast. The site will resemble an online magazine with original content, reporting, blogs authored by Brown and a "best of the Web" section compiled by the editors.

The Daily Beast, which is visually similar to The Huffington Post, may be getting "star power," according to globeandmail.com. The front page features book recommendations from former US president Bill Clinton and CNN's Christine Amanpour.

The name of the media outlet comes from Evelyn Waugh's novel Scoop. Leader of US-based media conglomerate InteraActiveCorp (IAC) is backing the project.

Source: globeandmail.com