Koch group, Craigslist founder come to Techdirt's aid
An eclectic group is financially backing TechDirt, a tech news site being sued for libel by the same lawyer who helped take down Gawker.
Who's involved: The Charles Koch Foundation, Craigslist Founder Craig Newmark's CraigConnects, Union Square Ventures, WordPress parent Automattic and the Freedom of the Press Foundation. The financial support is worth more than a quarter of a million dollars.
Why this matters: Their backing comes as some news organizations shy away from writing about a powerful or well-resourced person out of fear of a lawsuit — which some have called the Gawker Effect. This helps to chart a path for the types of publishers that can't survive the kind of libel suits that are becoming more common in the post-Gawker age.