About a dozen former Rocky Mountain News journalists and their friends launched an online “magazine” yesterday that aims to provide coverage of Colorado news in exchange for a $4 monthly fee–or $24 a year.

The Rocky Mountain Independent–not to be confused with the left-leaning Colorado Independent or alternative newspaper the Colorado Springs Independent–was conceived after 30 former Rocky staffers attempted to fund INDenverTimes via subscriptions, which failed. The Independent has a more humble business model: It is funded by its writers, notes the Denver Business Journal, and nobody will be paid for three months. Instead, they’ll earn equity based on the site’s success.

The Independent makes this pitch: “We want to remove the wall that has risen around the traditional newsroom. But most importantly, we want to bring the news back to Denver, to tell the stories that are missing in the place we call home.”

Westword media critic Michael Roberts gets the story behind the launch of the Independent, including the the details on INDenverTimes. And 5280 has the must-read feature on the Rocky’s demise.