Murdoch's The Daily "Threatened With Closure After Huge Losses"



It's reported that the iOS-only newspaper, The Daily, is in danger of closing after racking up losses of around $30m in its first year.

The axe could fall later this year as News Corporation splits into two divisions - publishing and TV and film.

The New York-based digiPaper was launched on the iPad in a blaze of publicity and now also has an iPhone version. The iPad version being sold at 99c a week or $39.99 a year, figures seen as rock bottom for a publication that relies solely on Apple device owners.

It's known that its biggest fan is News Corp boss Rupert Murdoch, with other executives in the company wanting to pull out of newspapers.

The New York Observer reports that The Daily has been put "on watch" by bosses and a decision will be made later this year on its future.

Comments