Mark Cuban launches investigative journalism site

No question blogging is reinventing journalism as we know it.

The New York Times reports Mark Cuban, serial entrepreneur, owner of the Dallas Mavericks and publisher of Blog Maverick, is the sole financial backer of Sharesleuth, a new ‘investigative journalism’ Web site that will focus on corporate chicanery and securities fraud. Christopher Carey, a longtime business reporter for The St. Louis Post-Dispatch will be running the site.

The reasoning for the site per the Times,

Per a recent post on his blog Cuban laments what he calls the loss of creativity, humor and spine in mainstream journalism. Young people aren’t turning away from mainstream media because they don’t care about current events, he writes, but because the media don’t know how to connect with them. He adds that young people find traditional media boring with no ‘payoff’ like that offered by the pugnacious Mike Wallace or the ribald Howard Stern.

‘Even for a 21-year-old, it’s not just about Paris Hilton, Bradgelina and the latest rap feud,’ he writes. ‘Kids want to learn. They want to know. Journalism matters.’

Imagine if the legal industry had someone following its chicanery. ;)