The new site will also collect materials in daily roundups including metro, state, national and international issues, and commentary from opinion leaders and readers.

"MinnPost.com is all about substantive news for Minnesotans who are intensely interested in the world around them and want more insight and analysis than they're getting from their media choices today," Kramer said in a statement. "It will combine the best of traditional journalism with new forms of newsgathering and storytelling made possible by the Internet."

Kramer has employed several local journalists to his team, including Roger Buoen, former deputy managing editor of the Star Tribune, who will be the site's managing editor. Don Effenberger and Casey Selix, two former editors at the St. Paul Pioneer Press, will serve as news editors.

Kramer has raised $1 million to start the company, mostly from locally well-known families in the Twin Cities area, including Sage and John Cowles, Vicki and David Cox, Terry Saario and Lee Lynch.

The new site will be financed by sponsorship, advertising and member donations.