Billionaires Back Public Benefit Corporation That Will Fund ‘Anti-Disinformation’ Media Companies

A misinformation newsstand, a first-of-its-kind newsstand set up by the Columbia Journalism Review, is seen in midtown Manhattan on Oct. 30, 2018. Angela Weiss/AFP/Getty Images

Billionaires Reid Hoffman and George Soros are backing a public benefit corporation that will provide funding to new media companies aimed at tackling disinformation online and restoring social trust.

Good Information Inc. launched on Tuesday and is being led by former Democratic strategist Tara McGowan who previously ran a progressive non-profit called ACRONYM, which was backed by LinkedIn founder Hoffman. Others contributing to the multi-million seed effort include investors Ken and Jen Duda, and Incite Ventures.