Ex-Denver Post Journalists, Editors Launch New Blockchain-Powered Colorado News Outlet
June 18 2018 - 5:30AM
ADVFN Crypto NewsWire
Former Denver Post reporters and editors plan to launch a new local
media outlet in partnership with ConsenSys-backed blockchain
startup Civil Media Company, The New York Times reports today, June 17.
According to the Times, the group left The Denver Post to create
a new local state online newspaper, The Colorado Sun, after
newsroom layoffs and deteriorating morale following newspaper’s
change in ownership. New York hedge fund Alden Global Capital took
control of The Denver Post after acquiring its parent company,
MediaNews Group, and manages it through a subsidiary, Digital First
Media, the Times reports.
The Colorado Sun will use blockchain technology via Civil to
store data, with initial funding via a grant from Civil, the Times
reports. Once the new outlet is up-and-running, The Colorado Sun
intends to be “a community-supported, journalist-owned team focused
on investigative, explanatory and narrative journalism for a state
in the midst of a massive evolution,” and will be completely
ad-free, according to the company’s website.
There is currently a Kickstarter campaign for the
fledgling outlet, which hopes to raise $75,000 over the next month.
A statement on the campaign page implies that the new outlet will
be subscription based, as well as relying on “local supporters” to
keep the platform free of advertising.
Emerging media platforms like The Colorado Sun purportedly seek
to address the problems of an
ad-driven media economy, and shareholder interest-driven content.
Civil Media Company — which the Times reports aims to open 1,000
publications in the U.S. by the end of the year — will operate on
the Ethereum network using a
decentralized governance model, powered by Civil’s upcoming native
token CVL, that holds publications in the system to a particular
set of ethical and professional standards.
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