The initiative - Southern Media Partnership - was announced yesterday, with NZ On Air confirming Allied Press, publisher of the Otago Daily Times, was allocated $396,821 to launch the news hub.
Allied Press also owns Dunedin Television Channel 39, Mountain Scene, the Greymouth Star and 12 community newspapers covering North Canterbury to Invercargill and the West Coast.
Allied Press' newsrooms will collaborate in producing news and video for online, terrestrial television and print editions.
A bulletin will be broadcast daily on Dunedin Television.
Production will be based in a Dunedin hub and exclusive content uploaded to ODT online and across the various community titles and on social media.
ODT editor Barry Stewart said the development of the initiative - which was expected to launch on September 1 - marked an "exciting time'' for the company.
"It's great news and demonstrates the innovation of Allied Press. It will allow us to showcase our quality journalism across a variety of platforms,'' he said.
"News content across multiple platforms is the future and the future is here.''
Details of the proposal, including staff numbers, would be revealed in due course, he said.
Announcing the funding, NZ On Air chief executive Jane Wrightson said the cross-platform regional partnerships had the potential to increase audiences and NZ On Air had allocated funding to proposals fitting that bill.
"The result is a range of regional media services tailored for specific regions,'' she said.
"We asked regions and their media to come up with their own solutions.
"The funded projects are each innovative in different ways, and will provide new or extended local news and information options.''
Other organisations granted funding include: Very Nice Productions (four regions in the North Island, $400,000); Star Media, (Canterbury, $400,000); Te Reo Irirangi O Te Hiku O Te Ika (Te Tai Tokerau, $180,000).
