E.B. Boyd of WebNewser reports that former BusinessWeek.com editor John Byrne is working on launching a Huffington Post-like Web site that will contain “business, finance, and economics” news.
Boyd reports, “‘The business category [online] is less developed than general news, gossip, entertainment, sports, food, women’s service, health,’ Byrne told WebNewser. ‘So there’s a real open road to make something happen here. Smart people can make it happen very easily. The technology costs are low, so the barrier to entry is very low.’
“And he added: ‘Traditional media is blowing it. It doesn’t understand what digital really is. Traditional media isn’t going to invest in online media. That’s why I think there’s a wide open area here. The newcomer has incredible latittude to succeed. The incumbent is disadvantaged every possible way. And that’s why I’m going after it.'”
Read more here. Byrne predicts his site will be able to compete with The Wall Street Journal, BusinessWeek and Fortune.
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