News Corp. shuts down iPad news app 'The Daily'

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Media giant News Corp. will shutter its iPad-exclusive digital news journal The Daily later this month, less than two years after the publication first launched.

News Corp. will release the final standalone issue of The Daily on Dec. 15, but said it plans to continue leveraging the brand across other digital channels. Publisher Greg Clayman will now oversee News Corp.'s global digital strategy, new digital investments and distribution partnerships in tandem with CTO Paul Cheesbrough. The Daily Editor-in-Chief Jesse Angelo will serve as publisher of The New York Post; he was executive editor of the tabloid prior to taking the Daily gig. Other Daily staffers and technology assets also will be folded into the Post's ranks.

Dubbed "the first national news publication for the iPad created from scratch" by News Corp. Chairman Rupert Murdoch, The Daily launched in Feb. 2011 to considerable fanfare, complete with a New York City media event spotlighting Murdoch as well as Apple (NASDAQ:AAPL) Vice President of Internet Services Eddy Cue. Featuring HD video, audio, animated graphics and traditional text context alongside interactive user experiences leveraging the iPad's touchscreen, The Daily also introduced innovations like a television-inspired news anchor, 360-degree photos, personalization tools, Web integration, social media sharing and the "carousel," a central navigation tool including tiles enabling direct access to each story in a given issue.

Apple even debuted a new subscription billing model in association with The Daily's launch, giving iPad owners the choice to sign up for a 99-cent weekly option or pay $39.99 per year. More than 500,000 users downloaded The Daily app during a two-month free App Store trial, and News Corp. indicated plans to expand the publications to tablets running Google's (NASDAQ:GOOG) Android, but the experiment soon fizzled.

"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," Murdoch said.

This summer, News Corp. announced plans to split its publishing and entertainment assets in response to shareholder demands. The company said Monday it will retain the News Corp. brand for its publishing efforts while its entertainment endeavors will continue under the Fox Group aegis.

For more:
- read this release

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