A Canberra-based digital publisher launched by a pair of tech-entrepreneur investors has announced a "new business model to fund local public interest journalism" and a high-profile advisory board.

Region Media - which publishes RiotACT and About Regional in Canberra, and claims to be Australia's fastest-growing digital news platform - has named medical services pioneer and philanthropist Glenn Keys, former senator and federal minister Kate Lundy, and internet pioneer Michael Malone to its initial advisory board.

Keys founded outsourced healthcare provider Aspen Medical and was made an Officer of the Order of Australia in 2017; while Lundy is a director of the Cyber Security Research Centre, Electro Optic Systems and the NRMA. Malone is the former chief executive and a founder of ISP iiNet, acquired by TPG for $1.56 billion, and a director of companies including Seven West Media and nbn Australia. He has been an advisory member of the Regional and Small Publishers Innovation Fund since 2018.

Launched in 2000, RiotACT has been a popular discussion forum for the federal capital, but not without its controversies. Even after a change of ownership in 2016 and transformation "into a reliable and professional news website", one of its sites attracted criticism for lifting ideas and content from local women's site HerCanberra.

Co-founders Tim White and Michael McGoogan come from backgrounds in tech: According to their website, White was a driving force behind property platform Allhomes, which Fairfax Media bought in 2014 for $50 million, while McGoogan - described on his website as a "homegrown technology prodigy", a Year 8 student who took support calls during classes at Melrose High - founded cloud service provider UberGlobal as a teenager, seeing the business sold to Melbourne IT in 2015 for $15.5 million. Crucial Cloud Hosting of which he was chairman, was acquired by Digital Pacific for $6.5 million the same year.

In a press release, the two say Region Media "continues to go from strength-to-strength in an otherwise bleak media landscape", and without external funding.

"We are wholly committed to developing a sustainable new business model to fund local public interest journalism across Canberra and surrounding regions," says McGoogan.

They point to "unique" technological capacity including "an amalgamated, moderated space for vigorous discussion that brings people together - a virtual town square that gives everyone a chance to take part in their community's conversation".

The advisory board announcement follows appointment of Kim Treasure - formerly managing editor for Fairfax and Australian Community Media's NSW South mastheads - as content director, working with group editor Genevieve Jacobs, a former ABC radio journalist.

Region claims its websites reach 500,000 unique visitors per month in the capital region, registering 1.3 million page views.

Peter Coleman

Pictured: Michael Malone (photo nbn Australia)