New York - Former Vanity Fair and The New Yorker editor Tina Brown on Monday launched her new online venture with IAC's (NASD: IACI) Barry Diller, The Daily Beast, which will mix original journalism and celebrity gossip with content aggregated from around the Web.

"It's a speedy, smart edit of the web from the merciless point of view of what interests the editors," said Brown, in a Q&A on the site.

"The Daily Beast is the omnivorous friend who hears about the best stuff and forwards it to you with a twist. It allows you to lead the conversation, rather than simply follow it."

The site, which launched free of advertising content, will compete with established, similar ventures that include The Huffington Post, Drudge Report and Slate.

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