February 20, 2014 Last Updated 6:46 am

Matt Tabbi to leave Rolling Stone and join First Look Media

Pierre Omidyar’s new journalism start-up, First Look Media, has grabbed another high profile talent today. Matt Tabbi, who has been writing pieces of Rolling Stone, will be leaving the magazine for Omidyar’s new venture.

Tabbi has been writing about Wall Street, and Goldman Sachs in particular, at Rolling Stone, serving as contributing editor for the past 10 years. At First Look Media, Tabbi will be able to build his own team, and publish his own digital magazine.

“Matt is one of the most influential journalists of our time,” Eric Bates, executive editor of First Look Media, said on the company’s main website. “His incisive explorations of the financial crisis – and Wall Street’s undue influence over our political system – have played a key role in helping to inform the public and transform the national debate. He is a journalist who can explain what a credit default swap is and why it’s important – and, make you bust out laughing while he’s doing it. I look forward to having him on our team and helping him launch a dynamic new site unlike any other.”

“This is an incredible opportunity and a wonderful creative challenge,” said Taibbi. “I’m looking forward to helping build a team that produces hard-hitting coverage of politics and the economy, but delivers it in a way that’s fun, funny, and accessible. It’s a new golden age for reporting and it’s a real privilege to be part of this effort to create something innovative and lasting.”

Tabbi is the latest high profile journalist to bolt a name brand for a new media start-up. The new ventures offer the one thing traditional media companies refuse to offer: an opportunity to build something new, to experiment using digital media, and to build their own teams. Legacy newspapers and magazines are built around one brand, and management often feels that building any new units lessens the value of the flagship brand. For talented journalists the only option to grow becomes leaving.

Tabbi will be great pick-up for First Look Media.

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