The Intercept, a far-left news outlet, is reportedly losing around $300,000 a month now it has been cut off by leftist billionaire Pierre Omidyar. Omidyar, an Iranian-American born in France, has funded many leftist projects, most notably the government-tied Misinformation Reporting Portal (MiRP) used to censor conservatives online.
He spun off The Intercept from his First Look Media organization in 2022 with a grant of $14 million to help it strike out on its own. However, much of that funding appears to have been squandered, and the news site is projected to be out of cash by 2025.
The struggling outlet has managed to mobilize its audience to set records for small-dollar donations since the Hamas terror raid on Israel on October 7, 2023, adopting a strong anti-Israel stance that has pleased readers but further alienated “traditional funders,” according to chief executive Annie Chabel.
The Intercept often attacks the Biden regime and the Democratic Party in general, particularly on foreign policy, which has proved unpopular with liberal donors who fear “infighting” could help Donald Trump return to power.
Some of its leading figures, such as founder Glenn Greenwald, have also left the organization on bad terms, alleging it was actually censoring criticism of Joe Biden.
The Intercept’s editorial union is at odds with Chabel, saying she has “failed” to fundraise, creating further tensions within the organization.
