Red Herring has more information on the $11 million OhmyNews and Sun Bank deal. Also checks in with other citizen journalism sites. Article subhead says:
Koreaâs OhmyNews will launch Japanese news site and develop video journalism.
As you might know, the Harnisch Foundation under the direction of Ruth Ann Harnisch gave us a substantial gift to start the Center for for Sustainable Journalism at Kennesaw State University. We are up and running. Keep abreast of what is happening at SustainableJournalism.org 
Leonard Witt is the Robert D. Fowler Distinguished Chair in Communication at Kennesaw State University and the chief blogger of PJNet. His academic interests include public and citizen journalism and how to get citizens' voices heard. He has spent most of his professional career as an award-winning journalist.