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They add to the recent boom in publications that are owned and controlled by journalists and publishers themselves.
By Katie Robertson
After seeing Vice Media go bankrupt this spring, an organization of bloodhounds from its popular tech brand, the parent, the most productive way to do its homework in a financially sustainable way was to stop operating on its own.
Thus was born 404 Media. Technology Publication, founded through former Motherboard editor-in-chief, Jason Koebler; two of its senior editors, Emanuel Maiberg and Samantha Cole; and one of its writers, Joseph Cox, began publishing on Tuesday.
Maiberg said that 404 Media would start with just 4 of them and that on topics like them they had extensive journalistic experience, adding hacking, sex work, specialized online communities and the “right to repair” movement.
“It’s actually an online page created by humans for humans and engaged in technology,” he said. “It’s not about the technology, it’s about its impact on other genuine people in the real world. “
This new design is the latest in a recent boom in publications owned and controlled by the hounds themselves. As the virtual media industry has become volatile, with tech corporations capturing most of the advertising profits and media outlets betting on their expansion by shutting down social media, several journalists turned to subscription websites with low overhead.
The founders of 404 Media said they were encouraged through publications such as Defector, from an organization of former Deadspin staff, and Hell Gate, run by journalists tired of New York media. Similar sites come with Discourse Blog, which features G/O news. The media-owned online political site Splinter introduced in 2020 after its closure, and Racket, a Twin Cities media outlet of former City Pages editors, a select newspaper that stopped publishing the pandemic after more than 40 years.
Worker-owned small businesses are a real relief from the virtual media corporations that emerged with venture capital backing a decade ago, many of which have stumbled.
Vice, once a high-profile media logo valued at $5. 7 billion in 2017, has come under increasing siege in recent years. After Vice filed for bankruptcy in May, a consortium led by Fortress Investment Group bought it for $350 million.
“When something like this is successful, it’s a sign that it can work in a way that doesn’t depress people,” Cole said, referring to 404 Media. “I think that’s why there’s this enthusiasm for the kinds of things we do. “
Cox said Vice’s recent troubles led him to leave the company, revealing in court documents that top executives had earned six-figure bonuses in the months leading up to the bankruptcy filing. At the same time, Vice delayed severance payments to laid-off workers, delayed reimbursement for freelancers, and owed millions of dollars for their services.
“I wanted to work in a position where I had more control over how a media company allocates its resources,” Maiberg said.
So far, the investment has been minimal, as has been the case with many other new publications owned by journalists: just $1,000 each, to cover start-up costs. All it takes is an internet hosting company, a content control system, and a way to settle for payments. The founders will keep all the work from home, freeing themselves from the charge of renting and maintaining an office.
A subscription to the site will cost $10 per month or $100 per year. The organization plans to see how many subscribers sign up in the first few months before deciding on salaries, M said. Koebler said 404 Media would publish a newsletter and podcast.
The call chose to be replayed with error code 404 from a website that is no longer available. “Since we are revealing worlds that other people might not even know exist, we consider it appropriate,” Mr. Cox said.
On Tuesday, the site published an investigation by Mr. Cox about other people posing as personal investigators of credit bureau data.
“It was vital for us not to have to face venture capital investments to begin with,” Koebler said. He added: “We need to demonstrate from the outset that we are going to do vital, sustainable and impactful journalism from day one, i. e. support is worth paying for and valuing. “
Katie Robertson is a media journalist. In the past she worked as an editor and journalist at Bloomberg and News Corporation Australia. Email: katie. robertson@nytimes. com Learn more about Katie Robertson
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