Carlson, a former conservative and libertarian pundit (most notably on CNN), touted his site as a home for basic reporting.

“Tell the truth, and be accurate,” Carlson said of the venture’s goals. “It’s very important to live up to the basic standards of journalism.”

Carlson said that the site’s reporters would share in the profits based on how much traffic is drawn in by their work. He said the site would seek to “drive” the news, similar to the Drudge Report, the Huffington Post, the New York Times, and other major news outlets. (The site’s motto, Carlson said, is “every seven minutes,” and seeks to be “even faster than Drudge.”)