Inside Look at First Look

The new media company formerly known as NewsCo.   now has a new name, First Look Media,  and more flesh on bones, as sketched out today by funder (at $50 million) Pierre Omidyar and advisor Jay Rosen, both to be found here.   The journalism operation, to answer a key question, will be non-profit while the related tech operation will be for-profit.  Rosen:

Another way to say it is: public service, mission-driven journalism, including investigative work, has always been subsidized by something: advertising, other kinds of news, donors to a non-profit (as with ProPublica) or a related and profitable business like the Bloomberg terminals that subsidize Bloomberg News. First Look Media is adding to the picture another possible source of support: profits from a company specifically focused on technology for producing, distributing and consuming news, views and information.