‘The Daily,’ News Corp. iPad newspaper, to shut down

none | Boulder Weekly

The Daily is dead.

The much-heralded $1/week newspaper app for iPads from Rupert Murdoch’s News Corp. will close very soon. Effective immediately, its editor in chief will move to a new position within News Corp., becoming the publisher of the New York Post.

In a statement, Murdoch is quoted as saying the business model did not appear to be sustainable. The app was launched in February 2011. According to a rumor, The Daily was losing $30 million per year.

See the story at Fast Company.