Could this be a salvation for freelance journalists who are struggling to turn a penny? A planned start-up in the United States is about to offer top dollar to story-writers.

Former New York Times executive editor Jill Abramson is prepared to pay $100,000 to writers to produce stories longer than long magazine articles but shorter than books, reports Poynter.

There will be "one perfect whale of a story" each month, she told a symposium, and it will be available by subscription.

Abramson, who is setting up the site with Steven Brill (of CourtTV, American Lawyer and Journalism Online), says they are very close to reaching a funding deal with one investor.

"If you are offering the ability to deliver something that is qualitatively different, there are investors willing to jump into that space," she is quoted as saying.

Source: Poynter