I can reveal that Westmonster is co-owned by Michael Heaver, former press adviser to Nigel Farage.
The 27-year-old, who together with Mr Banks will own 50% of the website, will edit it day to day.
Modelled on the Drudge Report, the American aggregator site that generates huge traffic, Westmonster will be powered by the social media reach of Leave.EU, the campaign to which Mr Banks gave close to £7m - the largest donation in British political history.
Leave.EU has nearly 800,000 followers on Facebook and Mr Heaver believes he can use that base to generate substantial traffic from day one.
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