This week, after nearly two decades teaching journalism at New York University, Jay Rosen -- a leading voice on innovation in news media sustainability -- announced that he's joining the team of a new investigative reporting operation funded by philanthropist Pierre Omidyar.

"We are calling it NewCo until we are ready to release the name," Rosen wrote. "Because it doesn't exist yet, NewCo could take many forms. Only a handful of those possible paths will lead to a strong and sustainable company that meets a public need. Figuring that out is a hard problem, to which I am deeply attracted. So I signed up to be part of the launch team."

The move isn't permanent. Rosen explained: "The contract I signed -- yes, I am getting paid -- is part time for the remainder of 2013. By luck I am on leave from NYU for the spring 2014 term. After the new year I can devote much more time to this venture, which I intend to do."

Noting that NYU is a research university, Rosen continued, "The purpose of that institution is to produce new knowledge. For me and the things I write and care about, NewCo is the most exciting project in journalism today. To be involved from the beginning in the birth of a company based on these ideas is the best test of my learning that I could devise. And I'm sure it will produce new knowledge, which I will share."

In his Oct. 16 post, Rosen hinted at a different kind of news organization; one that highlights the personal brands of individual journalists. "It resembles what I called in an earlier post the personal franchise model in news. You start with individual journalists who have their own reputations, deep subject matter expertise, clear points of view, an independent and outsider spirit, a dedicated online following, and their own way of working."

Rosen has long been an advisor and advocate for hyperlocal media, including participating in the Block by Block series of conferences for hyperlocal publishers.