Lawsuits backed by third parties are not unusual. In most cases, though, they are financial investments in which backers are motivated by the potential proceeds from a large damage award.

Secretive third-party financings of lawsuits can put media companies at a disadvantage during litigation, said Peter Scheer, executive director of the First Amendment Coalition, in an interview Tuesday.

"There might be circumstances in which knowing who your real adversary is or the real party of interest who is making a suit against you may alter one's perception of the case and strategies for defense," Scheer said.

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