It doesn’t get much better these media days than a billionaire backer and a Honolulu dateline. NUY prof Jay Rosen posted today that the Glenn Grennwald-Pierre Omidyar (pictured) venture that he is now also a part of will be called First Look Media:
First Look Media is made up of several entities, including a company established to develop new media technology and a separate nonprofit journalism organization. The journalism operation, which will be incorporated as a 501(c)(3), will enjoy editorial independence, and any profits eventually earned by the technology company are committed to support First Look’s mission of independent journalism. The name of First Look Media’s initial digital publication is yet to be announced.
The first $50 million of Omidyar’s pledge of a quarter-billion will go in part towards office space in NYC, Washington, D.C. and San Francisco. The sentence in Rosen’s item that should be of special note to Mediabistro job seekers reads as follows: ‘The team is actively recruiting in all areas of its operations.’ (And sure enough, the first commenter to Rosen’s blog item is a job seeker, asking where to send a resume.)
First Look Media is not exactly a vanguard name; at first blush, it sounds a bit too much perhaps like Digital First Media. FishbowlNY does realize however that the chances of this operation being called something like Billion Dollar Baby were slim to none.
Read Rosen’s analysis here. One of the more interesting points is #7, which ties to the vision another billionaire, Eli Broad, once articulated for the LA Times:
The journalism operation is a non-profit, housed within a parent company, which may have other entities inside it. The entire operation is designed to support the mission of independent public service journalism, achieve sustainability and attract talent.
Rosen by the way is also very active in the comments, responding thoughtfully to a number of inquiries and picking up in one case on some Twitter criticism from Paul Carr.
[Photo credit: Michele Clement]