More Journalists Join Political News Venture

NYT

Mike Allen, a reporter who covers the White House for Time magazine, and Roger Simon, the chief political correspondent for Bloomberg News, are joining the new multimedia political news venture being overseen by two former Washington Post journalists.
That new enterprise now has a name — The Politico, which is its newspaper, and thepolitico.com, its Web site. The name supplants The Capitol Leader, which had been its working title until it broadened in scope.
Both the newspaper and Web site are to begin publication on Jan. 23, the date of the president’s State of the Union address, one of the most-covered rituals on the Washington political calendar. In addition to writing about Congress, The Politico will focus on the 2008 presidential campaign.

The moves by Mr. Allen, 42, and Mr. Simon, 58, mark another step by traditional “old media” journalists toward a “new media” venture that is largely online, although both are writing or have written for the Web, and Mr. Allen will stay in Time magazine’s print version with a new column about the White House. The Politico is being financed by the deep pockets of Allbritton Communications and overseen by John Harris, the former political editor of The Washington Post, and Jim VandeHei, a former national political reporter for The Post. ....