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Rupert Murdoch cans 'The Daily' iPad newspaper

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Rupert Murdoch has announced that The Daily is to shut down from next week, after the "bold experiment" of an iPad-only news app failed to add up financially.

Alongside unveiling details of its planned business separation, Murdoch's News Corporation said today that it will cease standalone publication of iPad app The Daily on December 15, 2012.

'The Daily' iPad newspaper screenshot
'The Daily' iPad newspaper screenshot


Jesse Angelo, the founding editor-in-chief of The Daily and long-time executive editor of the New York Post, will now assume the role of publisher of the New York Post.

Murdoch said that The Daily's brand will "live on in other channels", and its technology and other assets, including some staff, will be folded into US tabloid the Post.

The 81-year-old hailed The Daily as "a bold experiment in digital publishing and an amazing vehicle for innovation", but said that the business model was just not "sustainable" going forward.

"Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long term," he said.

"Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties.

"Under the editorial leadership of editor-in-chief Col Allan and the business and digital leadership of Jesse, I know the New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself.

"I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily."

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This marks the latest digital flop from News Corporation, following the disastrous takeover of MySpace for $580 million in 2005. Six years later, the troubled social networking pioneer was offloaded by Murdoch for just $35m.

News Corp was also among a group of investors who pumped $87m into Beyond Oblivion, the proposed music streaming service that collapsed earlier this year before it had even managed to launch.

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