The Huffington Post announced today that it is launching a new initiative to produce a wide range of investigative journalism — The Huffington Post Investigative Fund. It is being funded by The Huffington Post and The Atlantic Philanthropies, and will be headed by Nick Penniman, founder of The American News Project, which will be folded into the Investigative Fund.

“The importance of investigative journalism cannot be overstated — especially during our tumultuous times — and we are delighted to be creating an initiative whose goal is to produce stories that will have a real impact both nationally and locally,” said Arianna Huffington, co-founder and editor-in-chief of The Huffington Post. “Everyone who recognizes the role good journalism plays in our democracy is looking for ways to preserve it during this time of great transition for the media. The Huffington Post Investigative Fund is one of the ways we are addressing that need, while also providing work and a platform for seasoned journalists downsized by major media outlets. We are grateful to the American News Project and The Atlantic Philanthropies for their generous contributions, and intend to engage with other donors as we continue to expand the Fund.”

Kenneth Lerer, co-founder and chairman of The Huffington Post, said, “There is no more critical reporting than investigative journalism. This nonprofit investigative journalism venture is a very important and logical next step for The Huffington Post. Our mission will be to produce and distribute distinguished, independent journalism made widely-available to all news outlets. We are proud to be working with our prestigious partners and look forward to expanding and building upon this venture with other investigative news organizations from around the country, and the world.”

Full Story: PressThink