Slate scheduled to launch The Big Money this summer

Kenneth Li of Reuters reports that Slate.com will launch a business site called The Big Money later this summer. The move had been rumored as imminent.

Li wrote, “‘The Big Money’ aims to use wit and irreverence to explain the arcana of Wall Street, the same way Slate has done with general and political news, Editor James Ledbetter told Reuters in an interview.

“‘We’re reaching a different audience, a general interest site for people who have an interest in money and financial affairs and economics … but not specifically or necessarily who work in the finance industry,’ he said.

“The site will make its debut in a field crowded by both well-entrenched publications and newcomers dedicated to making business news palatable to a mainstream audience.”

Read more here.