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WASHINGTON (MarketWatch) - The San Francisco Web

entrepreneur who's shaken the

classified ad business has plans to expand into

journalism, too. Speaking at an

Oxford University business school forum, Craig

Newmark said his news project will

be introduced within three months.

He made it clear his new Web site will have a

bottom-up approach to news stories

and presentation, with readers play the role of

editors.

"Things do need to change," he told the audience

in Oxford, England, The Guardian

reported. "The big issue in the U.S. is that

newspapers are afraid to talk truth

to power. The White House press corps don't speak

the truth ... they are

frightened to lose access they don't have

anyway."

Newmark said his news project will involve Web

technology to let readers decide

which news stories are the most important. At

least one Web site is already

working this field. Digg.com invites readers to

submit stories to be posted on its

Web site. "Once a story receives enough (votes)

from (the site's visitors) it will

be promoted to the front page," the site

explains.=20