Philanthropist-funded Australian news site goes under: Report
SYDNEY (AFP) - Australian not-for-profit news site The Global Mail is set to close after just two years, it was reported on Thursday, with philanthropist founder Graeme Wood pulling the plug.
The site was launched in February 2012 with a A$15 million (S$16.8 million) grant from Mr Wood, founder of successful online accommodation register wotif.com, under the slogan "our audience is our only agenda".
At the time, then-editor Monica Attard said it would "last as long as the money's there".
But speculation over its future started building last July when Mr Wood pledged an undisclosed amount to underwrite The Guardian's online launch in Australia.