Murdoch and Palestra.net

Forbes reports that Rupert Murdoch bought a stake in Palestra.net, a Web video-based college news network featuring student reporters.
Palestra.net focuses on news, sports, business and entertainment features, it pays student reporters $240 to $300 to produce three news packages a week for the Web site and Fox's cable networks.
From the story:

More than 10 pieces of student-reported Palestra content a week should be running on both the Fox News Channel and Fox Business Network by the fall as the school year restarts and the presidential campaigns swing into high gear. And founder Joe Weasel--a former on-air journalist for NBC affiliate WCMH-TV in Columbus, Ohio--says he began talking with Fox's local affiliates last week about placing Palestra content on their Web sites around the country, which could lead to on-air spots.

Palestra's reporters aren't just telling the stories--they are the story. When Weasel hired student reporters Sarah Barga, Sarah Jane Dugger and Chris Kaechele as summer interns to create a marketing campaign for Palestra, Fox Business Anchor Alexis Glick had them brought to New York for a segment on the internship. And while there, Weasel says the three had a meeting with senior Fox officials about how they saw digital media developing.

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