San Francisco financier and Wells Fargo heir F. Warren Hellman and “a team of business and media experts” are working on a plan to develop a new business model for community journalism. In a statement to the San Francisco Business Times, he said the group has adopted a two-month timeline for completing the first stages of exploring options that could have implications throughout the journalistic world.

“If we can conceptualize a model and bring it to life here, the world will take notice,” Hellman said.

Hellman said many options are on the table, including a nonprofit model, expanding into unspecified new print or online directions, for-profit, or a web-only, online-ad-driven model. Or, “Should we do nothing?”