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You’re reading it here first … Mark Cuban is the sole investor in Sharesleuth.com, a new journalism venture founded by business reporter Christopher Carey that will start to go live next month. Cuban’s involvement was included in the internal announcement that Carey is leaving the St. Louis Post-Dispatch to work on Sharesleuth, which will focus on stock fraud and executive malfeasance on the national and international level. Cuban told me via e-mail that he is the sole investor but wouldn’t say how much he’s put in. He did call it a multimedia deal, adding, “the site, HDnet and HDnet films will be involved and that’s just the beginning.”
Carey will run the site at first with stringers and input from a broad network of non-journalists who have an interest in the subject. He told me the investment grew out of an e-mail correspondence that started when he read Cuban’s blog and sent him some information. Carey, who was a finalist for the Gerald Loeb Awards for a series on global stock fraud, spent this past year as a Knight Wallace fellow at the University of Michigan looking at “criminal subculture in the U.S. Securities Industry” and will return to Ann Arbor to run the site.
(Disclosure: My partner is an editor in the business section at the Post-Dispatch.)