The journalism venture by former Rocky Mountain News journalists and investors that was to be the online news service INDenverTimes is starting back at square one, Poynter reported yesterday, on what would have been the Rocky's 150th anniversary.

The plan is to create a lower scale site that will "create a self-sustaining, broad-based local news service," Poynter's Steve Myers writes. Investor Kevin Preblud said that the project was expected to lose money in early stages, but that investors "want to move forward from a business perspective rather than an ideal."

Investors funding the site originally planned for the site to be funded by premium content subscriptions, with basic news available for free. However, a mere 3,000 subscribers signed on to the site, a far cry from the original goal of 50,000, and investors have said they will continue on with their plan of a small, niche news site, according to Poynter.

The staff and investors have also struggled to agree on the number of people that should be employed by the site as well as the content and focus of the new venture, Poynter reported.

The Rocky closed in February.