Defector's just-released annual report shows a fascinating model for new media

Defector.com launched just over a year ago, formed by Deadspin employees tired of the necrophilic private equity firm extracting value from the former Gawker site at any cost. The new media venture took an employee-owned, subscription-based approach to running their business for much the opposite of the venture capitalist cost-cutting evisceration that the former Deadspin writers had endured for years. — Read the rest