What does this revelation that Craig Newmark, founder of Craigslist, wouldn’t mind funding journalism mean? It means, quite frankly that the mainstream media’s paranoia about blog writers needs to be kicked up a notch. BAM!

If someone with big enough pockets who is not beholden to the current media oligarchy actually financed investigative journalism it officially begins the deathwatch for big media. Right now media conglomerates can’t really push boundries. They need to answer to shareholders, they can’t offend advertisers and they can’t offend their readers. That means no one takes chances. If someone like Newmark of Mark Cuban were to really empower people the term “citizen media” would cease to be vaporware and really mean something.

[Via Online News Squared]