US: Huffington website to fund investigative projects

The Huffington Post's news and commentary website could be raising money to fund "investigative journalism projects," according to a Reuters blog by Robert MacMillan.

Founder Arianna Huffington made the announcement at a panel discussion yesterday, saying that further details wouldn't come for at least three months.

Huffington's website is "small compared with big professional publishers," but, MacMillan reports, "she's latching on to a growing trend."  

Online investigative journalism "ventures," such as Mark Cuban's sharesleuth.com and bailoutsleuth.com, or ProPublica.org, a privately funded operation directed by Wall Street Journal Managing Editor Paul Steiger, take on a watchdog role that is difficult to fund at "traditional media outlets" in a financially failing industry.  Time will tell if these news sites will have staying power.

Source:  Reuters blog