"Katharine Viner, the Guardian's deputy editor, will be relocating to Sydney to head up and launch the venture later this year," the UK site's story tells us, and an ex-ABC director, Paul Chadwick, will join the venture from prior to the launch.
Most keen observers of global events will already know the Guardian well. Founded in 1821 in Manchester to protect "the liberal interest in the aftermath of the Peterloo Massacre and the growing campaign to repeal the Corn Laws that flourished in Manchester during this period", the paper is owned by the Scott Trust, the sole responsibility of which is the newspaper. So it's a socially progressive vehicle and Wood, the Australian internet entrepreneur, is a progressive as well, having in the past given significant amounts of money to the Greens.
The Guardian is expanding globally, and set up a US website in 2011. Wood is emerging as a rival in the eyes of Australians to Melbourne property developer Morry Schwartz, whose publishing ventures include The Monthly magazine, the Black Inc imprint, and Quarterly Essay.