Steven Brill to launch online paid news venture

It’s the “paid” aspect that raises my eyebrow. Monetizing online content is nothing new but doing it with a subscription? I guess you’d expect it from people described as “media veterans” – that may, in and of itself, be the problem:

Via Breitbart:

Three media veterans plan to bundle the Internet content of newspaper and magazine publishers into a subscription package that will test Web surfers’ willingness to pay for material that has been given away for years.

The system won’t be ready until the fall, but the plans were announced late Tuesday because so many publishers already are clamoring to sign up, said Steven Brill, co-chief executive of the new venture, called Journalism Online …

And it looks like some legal big wigs are standing by: antitrust lawyer David Boies and Theodore Olson, former U.S. solicitor general.

How about an iTunes model for news content? Access to iTunes content is free; content – which can be rated by users – is either free or paid.