Omidyar and Greenwald’s new journalism venture will be incorporated nonprofit

First Look Media, a new journalism organization backed by eBay founder Pierre Omidyar and headed by formerĀ GuardianĀ columnist Glenn Greenwald, will include a 501(c)3 nonprofit as part of its structure. The company, announced in June with $250 million in promised capital from Omidyar, will comprise several entities, including a for-profit division dedicated to exploring new media technologies. According to a Dec. 19 announcement, the still-unnamed nonprofit-journalism side of the company will create a digital publication. Funds from the technology wing will support the journalism, which will retain editorial independence.