Good Information Inc. launches on Tuesday and will be led by former Democratic strategist Tara McGowan, according to Axios.
"Good Information Inc. aims to fund and scale businesses that cut through echo chambers with fact-based information. As part of its mission, it plans to invest in local news companies," Axios reported.
"We are disclosing our investors, because we believe — especially right now in this environment of mistrust — that transparency is really important," McGowan told Axios, noting that investors Ken and Jen Duda and Incite Ventures are also involved in the project.
McGowan claimed the group could potentially invest in "entities across the political spectrum," but history suggests it will refrain from helping conservatives as Hoffman and Soros are strong backers of liberal causes.
Hoffman, the co-founder of LinkedIn, is one of Silicon Valley’s top donors to the Democratic campaigns and PACs. He has donated millions to Democratic groups, though his money also pours into non-traditional groups that aren’t mandated to report their funding and often operate in the shadows. He was forced to issue an apology in 2018 for funding a group that falsely tried to give an impression the Russian government was supporting Alabama Republican Roy Moore in a 2017 special Senate election.
Soros has been bankrolling liberal causes across the globe for years. He recently helped embattled California Gov. Gavin Newsom, D., when he was faced with a recall by donating $1 million to the organization, "Stop the Republican Recall of Governor Newsom."
Earlier this year, Soros directed $1 million to an activist group attempting to defund the police as violent crime surges in major urban centers across the nation. Soros sent the cash via his Color Of Change PAC on May 14, according to Federal Election Commission files obtained by the Washington Free Beacon.
Good Information Inc., the latest venture from Hoffman and Soros, will reportedly invest in new businesses and solutions that attack the "disinformation crisis" in America.
"That could mean funding new or existing companies that boost news from existing news outlets," Fischer wrote.
Meanwhile, the new company that claims it intends to prevent disinformation is already the owner of a company known for its bogus news. As part of the deal, Good Information Inc. will acquire the controversial Courier Newsroom, according to Axios.
Last year, Facebook was forced to announce a new policy "differentiating a straight news outlet from a political persuasion operation" to prevent operations from driving one-sided messaging and provide transparency about who funds the operation.
At the time, Axios' Sara Fischer, who broke the news, said, "The biggest and most sophisticated example of this type of website is Courier Newsroom."
Prior to Facebook’s announcement, Fox News explored how Courier Newsroom, which is tied to a multibillion-dollar, left-wing dark money operation, strategically placed websites in key battleground states running "news stories" that often are Democratic Party talking points made to look like local news pieces.
The same operation also promoted its content on social media platforms and places expensive ads on Facebook, where it was categorized as a Media/News organization.
In 2020, Politico published a story about the Courier Newsroom headlined, "Newsroom or PAC? Liberal group muddies online information wars," which detailed how the group was "blurring the lines between campaign advocacy and a newsroom."
The Courier Newsroom has set up websites that appear to be local, small-town news organizations in major swing states such as Pennsylvania, Wisconsin, Michigan, Florida, Virginia, North Carolina and Arizona, all complete with names such as "Up North News" and "The Gander" to give them a local feel.
Dan Pfeiffer, a former senior advisor to President Obama, is expected to serve on the Good Information Inc. advisory committee.
"McGowan says that the group's goal in the next year is to raise more awareness about immediate solutions to counter disinformation before it spreads," Axios reported.
Fox News’ Luka Mikelionis, Andrew Mark Miller and Houston Keene contributed to this report.