The former Denver Post staffers will partner with a startup called Civil Media Company, whose sole investor is ConsenSys, a blockchain technology company founded by Joseph Lublin, co-founder of Ethereum. The new publication will have a website with data written into a blockchain.
Civil Media Company plans to introduce a token this summer called CVL to help fund new media groups. Purchasers of CVL will be able to vote on whether its websites are meeting Civil’s journalism standards, as detailed in its constitution.
Civil Media Company chief executive Matthew Iles said that by offering ownership shares to the public, the company removes the chance of a small group of investors or a sole company exerting influence over a news outlet, something The Denver Post employees have accused its owner of doing.
Iles said it is hoped that Civil Media Company will become a publicly owned journalism entity that anyone interested in an independent journalism anywhere in the world should be able to be part of.
Civil hopes to have 13 newsrooms launched by the end of June nationwide.
Larry Ryckman, formerly a senior editor at The Denver Post, will be the editor of The Colorado Sun and has hired two senior editors and five reporters, all former Denver Post employees. Ryckman and Dana Coffield, one of the senior editors, resigned from The Denver Post in May…