Motley Fool charging for chatrooms

NEWS Personal finance site The Motley Fool is advising web users of a new way to invest their hard-earned cash - subscribing to the site's discussion boards. From 14 February US chat room users will be charged an annual fee of $30 to discuss investment tips, air financial problems and offer advice. The site's UK arm, http://www.fool.co.uk , has adopted a 'wait-and-see' policy, promising users that discussion boards will remain free until summer when the success of the US experiment can be judged. To soften the blow, the company is offering free subscriptions to 1,000 of its most active members and a free additional year of access to other users who subscribe before Valentine's Day. In a posting on the site co-founders David and Tom Gardner said the charges would help ensure the site's continuing success. "Backed by the resources of membership dues, we will be able to maintain the excellent service you're accustomed to and make more new enhancements as well," the statement said. The Motley Fool is the latest in a line of new media ventures trying to shake off their heavy reliance on advertising revenue and guide users towards a fee-based model.