Article: Old newshounds hunt for digital future; Ex-Trib execs hope "cooperative' sustains traditional reporting.(NEWS)

Byline: ANN SAPHIR

Chicago Tribune veteran Jim O'Shea thinks he has a new-media business model for old-fashioned journalism.

His Chicago News Cooperative, unveiled last week, aims to deliver the kind of stories newspaper readers are accustomed to: tales of skullduggery and corruption at City Hall and other big institutions that dominate civic life in Chicago.

"If you are interested in Britney Spears, we're not the place for you, Mr. O'Shea says. "People are interested in the news. Not everyone is, but I'm not going to appeal to everyone.

To pay for his new venture, he's cobbling together a patchwork of funding sourcesa dash of grant ...

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