Liberal billionaires George Soros and Reid Hoffman are reportedly bankrolling a new media firm to fight “disinformation.” According to a report by Axios, Good Information Inc. launches on Tuesday and will be led by former Democratic strategist Tara McGowan.

Fox News reports:

“Good Information Inc. aims to fund and scale businesses that cut through echo chambers with fact-based information. As part of its mission, it plans to invest in local news companies,” Axios reported.

“We are disclosing our investors, because we believe — especially right now in this environment of mistrust — that transparency is really important,” McGowan told Axios, noting that investors Ken and Jen Duda and Incite Ventures are also involved in the project.

McGowan claimed the group could potentially invest in “entities across the political spectrum,” but history suggests it will refrain from helping conservatives as Hoffman and Soros are strong backers of liberal causes.

Hoffman, the co-founder of LinkedIn, is one of Silicon Valley’s top donors to the Democratic campaigns and PACs. He has donated millions to Democratic groups, though his money also pours into non-traditional groups that aren’t mandated to report their funding and often operate in the shadows. He was forced to issue an apology in 2018 for funding a group that falsely tried to give an impression the Russian government was supporting Alabama Republican Roy Moore in a 2017 special Senate election.

Soros is known for funneling money to liberal causes. Soros helped embattled California Governor Gavin Newsom while he faced a recall election.