GlobalPost, which will provide daily international news coverage, will go live on January 12 2009, a press release from the site said.
Multimedia content supplied by 70 correspondents in 53 countries will be available through the online agency, which will be freely accessible.
Revenue will be generated through syndication deals in print and online and a premium access model to some content.
The agency has signed its first editorial syndication deal with VietNamNet, the news website based in Vietnam. As part of the agreement GlobalPost content in English will be included on the Vietnamese-language site.
"In keeping with GlobalPost's mission to cover countries that get little attention from the US press, the partnership will bring VietNamNet's reporting to an American audience," said the release.
GNE has recently completed a recruitment drive for correspondents in Asia to expand its coverage of the region.
"We are building an international news organization for the digital age, yet with strong roots in traditional, accurate, thoughtful foreign reporting," said Balboni.
"GlobalPost is going to report on the issues that are so profoundly important to our economy, to our national security, to our environment but simply aren't getting any depth of coverage from most of the press."
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