Morning Media Newsfeed: Greenwald Moves On | Huffington’s Payout | Vox Raises $34 Million

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Glenn Greenwald Will Leave The Guardian to Create New News Organization (BuzzFeed)
Glenn Greenwald, the lawyer and blogger who brought The Guardian the biggest scoop of the decade, is departing the London-based news organization, for a brand-new, large-scale, broadly focused media outlet, he told BuzzFeed Tuesday. Greenwald, 46, published revelations from former National Security Agency contractor Edward Snowden about the extent of American and British domestic spying and about officials’ deception about its scope. NYT In a statement on his website, Greenwald did not say where he was going. “I was presented with a once-in-a-career dream journalistic opportunity that no journalist could possibly decline,” Greenwald wrote on his blog Tuesday evening. The Washington Post / Erik Wemple Greenwald was careful not to divulge any telltale details about the organization, saying only that it would have outposts in New York, Washington and San Francisco. As to its headquarters, we asked Greenwald whether any consideration had been given to locating it outside of the United States, given the legal sensitivity of the reporting he has done in recent months. He declined to answer, but noted that it’s an “important and good question.” Reuters Two sources familiar with the new venture said the financial backer was eBay founder Pierre Omidyar. It was not immediately clear if he was the only backer or if there were other partners. Omidyar could not immediately be reached for comment. Omidyar, who is chairman of the board at eBay Inc but is not involved in day-to-day operations at the company, has numerous philanthropic, business and political interests, mainly through an investment entity called the Omidyar Network. FishbowlNY BuzzFeed reporter Ben Smith’s exclusive ends with this tantalizing sentence from Greenwald: “When people hear what it is, there is almost no journalist who would say no to it.” The departing Guardian star also says that a “fair number” of people have been hired already.


Arianna Huffington Made Just $21 Million From Sale of Huffington Post, New Document Reveals
(The Smoking Gun)
In a new court filing, lawyers for two men suing Arianna Huffington for allegedly denying them credit and cash for their role in the founding of The Huffington Post have made public an internal document detailing exactly what she pocketed following the site’s $315 million purchase by AOL. Marked “Confidential” and “Attorney’s Eyes Only,” the February 2011 memo was prepared for AOL board members by Tim Armstrong, the company’s chief executive, and Artie Minson, the firm’s former chief operating officer. NY Post / Media Ink According to documents unearthed by The Smoking Gun, of the original $315 million purchase price, the 63-year-old businesswoman received approximately $21 million. And she did not get it all at once. Approximately $3.4 million was deferred as unvested options over the ensuing 20 months. FishbowlNY So it was nowhere near $100 million, the loosely reported territory that had many unpaid Huffington Post bloggers seeing red at the time of the site’s acquisition by AOL. Still, the February 2011 transaction amounted to some very nice Brentwood trickle-down.

Vox Media Raises $34 Million to Expand Video Business (Ad Age / Digital)
Vox Media may only have three sites to its name — The Verge, SB Nation and Polygon — but that hasn’t stopped the D.C.-based company from stuffing its pockets. The digital media company has raised $34 million in funding with plans to add an additional $6 million to close the round at $40 million, according to documents filed with the Securities and Exchange Commission. Accel Partners led the funding round and was joined by fellow previous investors Comcast Ventures and Khosla Ventures. TechCrunch Coming on top of $30 million in previous rounds, the Washington, D.C.-based company will have the most venture backing of any high-end content creator when the round is finalized in the coming weeks. There are precious few other examples on this scale. Viral-oriented BuzzFeed has raised nearly $50 million in total. Politically-focused Huffington Post had reached $37 million before AOL (TechCrunch’s parent company) bought it.