OSM will combine blog postings with traditional news feeds from the Newstex site. The site aims to become a focus for the best discussion taking place in the blogosphere and the wider citizen journalism movement.
"When we talk about citizen journalism, we mean journalism not created by elites, as in the 'top-down' traditional media, but from the 'bottom-up,' by citizens using their observations and knowledge, informed by a desire to speak honestly," said co-founder and blogger Roger L Simon.
"Citizen journalism at its best means the pursuit of the truth above all things, above partisanship or the financial interests of the medium publishing it."
The site was launched with a discussion in New York's Rainbow Rooms featuring several well-known journalists, including WSJ contributor Claudia Rosett and John Podhoretz of the New York Post.
Former New York Times reporter Judith Miller will also speak; she recently spent 85 days in prison after refusing to name a confidential source in the CIA agent leak case.
More news from journalism.co.uk:
Setting the record straight on citizen journalism
Revamped editors' blog calls for contributors
CBS sacks four after blogs trigger Rathergate
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