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Duncan Riley’s news blog The Inquisitr is looking to hire writers, and the payment model is CPM based. That by itself isn’t anything new, but being up front with the reasoning perhaps is, Duncan writes extensively about it on his blog.
Personally, I wouldn’t go for this model unless the numbers looked really really good, but it is interesting to see publishers looking for payment solutions in today’s struggling economy. It’s even more interesting to read about the reasoning behind the decisions, and knowing Duncan I think we’ll find out how this experiment falls out.