France: Former Le Monde editorial head to launch news site

Posted by Jean Yves Chainon on November 14, 2007 at 2:23 PM

The former editorial head of the daily Le Monde, Edwy Plenel, hopes to raise 4 million euros to launch a news site in the beginning of 2008.

Francois Bonnet will quit his job as deputy director at the weekly Marianne on Thursday to pursue this project. The site's business model will be based on a free and a paid-for subscription combination, explained Bonnet who will be the editorial director. According to Challenge.fr, the monthly subscription could coust 9 euros.

The site, founded by Plenel and half a dozen journalists, seeks to create an independent news outlet with true investigative journalism that publishes important stories that are not usually seen in today’s news. The site will employ a team of 25 professional journalists.

The financing of the site will rest on three pillars. The founding journalists will contribute based on their own means, as well outside investors. There will also be a "society of friends", which will enable individuals to support the website, even if a little.

The site will hope to enjoy the same success as has Rue89, which is already ranked as the French news site with msot time spent on site (in part due to its intensive use of video).

Source: Voila through IFRA Executive News Service

Posted in :