The new media channel will start operating in September.
Sources tell Gazeta.ru that, although based in Latvia, the website will be targeted at readers in Russia.
It is expected that Galina Timchenko, who was fired from the chief editor's position at Russian news site Lenta.ru this March, will be appointed to run the newsroom.
Gazeta.ru reports that Timchenko has already agreed to become the editor-in-chief of the new site.
It has been said that the staff will partially consist of former employees of Lenta.ru.
Khodorkovsky's representatives have indicated that the former oil tycoon will not comment on this information until autumn.
Timchenko, on the other hand, says that she knows nothing about the new portal and that no one has approached her about working there.
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