The Knight Foundation is revamping its Knight News Challenge for 2012, “evolving the challenge to be more nimble and more focused,” it announced Thursday (Feb. 9), with three distinct application rounds. The first concentrates on networks, and ways entities might use existing platforms to drive innovation in media and journalism; applications open Feb. 27 and close March 17. Subsequent rounds will be an open competition, “looking for new ideas broadly,” the foundation said, and a third on a specific topic. First-round winners will be announced in June. The Knight News Challenge is part of the Foundation’s $100 million Media Innovation Initiative, working to identify new ways to meet community information needs in the digital age. Over its first five years, the foundation reviewed more than 12,000 applications and funded 76 projects, including in pubmedia, for $27 million.