A new venture called Journalism Online LLC plans to help newspapers make money online by charging readers for news.
The founders include Leo Hindery, a former chief executive of AT&T Broadband; Steven Brill, the founder of Court TV, and former Wall Street Journal publisher Gordon Crovitz.
Brill said the company has already held talks with most major U.S. newspaper and magazine publishers and they expressed "strong interest" in the venture.
"We think this is a special moment in time when there is an urgent need for a business model that allows quality journalism to be the beneficiary of the Internet's efficient delivery mechanism rather than its victim," he said.
Coverage: AP, Denver Business Journal, MultichannelNews, Reuters, NY Times and Wall Street Journal.