New York University professor Jay Rosen announced Sunday he has joined Glenn Greenwald's new journalism venture, which is being funded by eBay founder Pierre Omidyar. They're calling it NewCo for now, Rosen writes, and his involvement signals a change in his professional endeavors:

Up to this point, I have observed upon — and criticized! — the press from a position outside and independent of it.
Today’s announcement is different. From here on, I am a player in NewCo. I’m not just giving advice to a company that pre-dated my involvement. I am involved in the effort to create something. I am being paid $ for my participation. Unlike an “advisory” position there is no real separation between me and the people who are building NewCo from scratch. Therefore I have to publicly abandon any position as an observer or independent analyst of Pierre Omidyar’s new venture in news. Out of the press box and onto the field.

Rosen said on Twitter he's not leaving NYU and plans to "return to regular teaching, fall 2014."

He will "advise on building the company and participate in planning discussions as NewCo takes shape. The new venture "has to be its own J-school or it cannot succeed," he writes.

Nor will they try to save journalism at NewCo: Journalism "doesn’t need saving and anyway that is not the plan," Rosen writes.

The plan is to build something that can sustain itself and produce excellent work.

Previously: A look at Glenn Greenwald’s bench so far