Online Global Public Library Planned

Six of the world's leading educational institutions plan to announce today a team to create a global online public library. The London School of Economics, Cambridge University Press, the British Library, the Smithsonian National Museum of Natural History, the New York Public Library and Columbia University are partnering to found fathom.com, with an initial investment
estimated at $116 million, the Financial Times reported.

The report said that users will be able to buy knowledge products and
courses through fathom.com and download free content checked by the
partnership's Academic Council.

A partnership spokeswoman stated the site will generally offer
information that is already free in the offline world, and that small
charges will be levied for more obscure information, the report said.

The Financial Times called fathom.com the latest move by traditional
educational organizations to establish a toe-hold in the developing
online marketplace, and said it would go public if the venture met
objectives. Online enrollment in educational courses is expected to
increase in the US alone at an annual rate of 30 to 35 percent.

Reported By Newsbytes.com, http://www.newsbytes.com.