Curious timing of new 'investigative journalism charity'

Investor's Business Daily shares our concern over the newly announced "charitable" investigative journalism project Pro Publica, being funded by left wing moneybags and George Soros associates Herbert and Marian Sandler. IBD writes:

Could a couple of left-wing billionaires really be sincere about creating a "nonpartisan," "non-ideological" center for investigative reporting? Or is the pair just paying more to drive the media agenda further left?
Some interesting data are provided:
In 2004 they gave $2.5 million, or as much money as their philanthropic ally, George Soros.

Along with Soros and billionaire Peter Lewis, the Sandlers fund some of the most important players of what is now known as the "progressive" left. In 2003, the three together funded about a third of the Center for American Progress think tank, which has close staff ties to Hillary Clinton.

And the timing of the announcement of the project is curious, to say the least: is now discredited after it tried to smear Gen. David Petraeus in a Sept. 10 New York Times ad and is probably of limited use to power players now. Suddenly, ProPublica goes online at the beginning of a campaign cycle, and we're supposed to believe its only aim is to save investigative reporting?
Hat tip: Ed Lasky