Collective Journalism

I haven't done much researching into this, but I was just reading this article about a guy who was writing about Wikipedia for an article in Esquire magazine and put a draft of the article (with intentional typos and falsities) on Wikipedia. Within 24 hours the typos had been fixed and the article had been edited into a cohesive and publishable article.

This got me thinking about collective journalism and whether such a thing could exist. Of course, a newspaper is an example of collective journalism but what I mean more a collective collaboration on one article in particular. If you were the authority on something, say you were at an event, you could collaborate with others to write an article about that event. So basically the Wikipedia structure, applied to the news media.

Does anything like this exist?

(link to article: http://news.cnet.com/Esquire-wikis-article-on-Wikipedia/2100-1038_3-5885171.html?tag=mncol;txt)

Update: after about ten seconds searching I found: www.collectivejouralism.org but it seems like a really underdeveloped and generally pretty bad site.
Anyone know of any genuine collective journalism sites? Or does Wikipedia already fulfill that role?