Can the Huffington Post save journalism?

The AP is reporting that Huffington Post is launching an investigative journalism fund.  Journalism is definitely evolving fast…

UPDATE: The Huffington Post (unsurprisingly) has more.

NEW YORK (AP) — The popular blog Huffington Post says it is bankrolling a group of investigative journalists.

The Huffington Post is collaborating with The Atlantic Philanthropies and other donors to set up a $1.75 million fund to pay staff journalists and freelancers.

The investigative fund will direct reporters to look first at stories about the nation’s economy.

The Huffington Post is following a trend of foundation-backed journalism that is attempting to keep investigative reporters working at a time of retrenchment in the news industry.

Blog co-founder Arianna Huffington says she hopes to draw from the ranks of laid-off journalists.