When two of the best-known figures in US journalism announced in January they were quitting their prestigious jobs to launch a new media venture, the pair were met with curiosity and some scepticism.
Justin Smith, the former Bloomberg media chief executive, and Ben Smith, the ex-New York Times media columnist, are betting they can overcome the obstacles that have hobbled a clutch of journalism start-ups launched over the past two decades.
Seven months later, the early contours of the new venture are starting to emerge ahead of a launch planned for October. Having secured $25mn in funding from various wealthy individuals, the start-up, called Semafor, is hiring more journalists.
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