Lee Smith:

Yet at the same time that Fusion GPS was fueling a campaign warning against a vast Russia-Trump conspiracy to destroy the integrity of American elections, the company was also working with Russia to influence American policy—by removing the same sanctions that Trump was supposedly going to remove as his quid pro quo for Putin’s help in defeating Hillary. Many observers, including the press, can’t quite figure out how the firm wound up on both sides of the fence. Sen. Chuck Grassley wants to know if Fusion GPS has violated the Foreign Agents Registration Act.

As the founders of Fusion GPS surely understand, flexibility is a key recipe for success—and the more room you can occupy in the news cycle, the bigger the brand. After all, they’re former journalists—and good ones. Fusion GPS is the story of a few journalists who decided to stop being suckers. They’re not buyers of information, they’re sellers.

***

Fusion GPS was founded in 2009—before the social media wave destroyed most of the remaining structures of 20th-century American journalism—by two Wall Street Journal reporters, Glenn Simpson and Peter Fritsch. They picked up former colleagues from the Journal, Tom Catan, and Neil King, Jr., who were also well-respected by their peers. When the social media wave hit two years later, print media’s last hopes for profitability vanished, and Facebook became the actual publisher of most of the news that Americans consumed. Opposition research and comms shops like Fusion GPS became the news-rooms—with investigative teams and foreign bureaus—that newspapers could no longer afford.

As top reporters themselves, the principals of Fusion GPS knew exactly what their former colleagues needed in order to package and sell stories to their editors and bosses. “Simpson was one of the top terror-finance investigative reporters in the field,” says one Washington-based journalist, who knows Simpson professionally and personally, and who asked for anonymity in discussing a former reporter. “He got disillusioned when Rupert Murdoch took over the Journal because there was less room for the kind of long-form investigative journalism he thrived on.”