Editors Walt Mossberg and Kara Swisher, who are leaving media giant News Corp. at the end of the year, completed a deal with NBCUniversal for a news and conference business arrangement that will bring their current staff to a newly named website.
Mossberg and Swisher will have majority control of the venture, known in the industry as AllThingsD, with NBCUniversal and another unnamed investor together taking about a third of the business to be called Revere Digital.
The new business tentatively plans to announce the agreement on Jan. 2.
The deal provides NBCUniversal, owned by cable television giant Comcast Corp., with a bigger entry into technology news coverage and potentially gives the startup’s stories exposure on CNBC, NBC News and MSNBC.
Mossberg and Swisher co-manage AllThingsD’s news and conference operations.
The two editors agreed to leave News Corp. in September and sought investors for the new startup. AllThingsD was believed to be a profitable unit of News Corp., with about $14 million in annual sales and $5.5 million in profit.