There is very little doubt that Rupert Murdoch is a smart businessman. You may not like the man’s politics or how he carries out his business, but there was about a two or three decade run where the Australian mogul managed to turn whatever he touched into gold. His big conglomeration, Newscorp has run into some problems over the last few years and it appears that Murdoch’s reputation as being infallible is taking some serious hits, if not coming to an end altogether. The man is still savvy, but projects like the iPad application ‘The Daily’ are starting to falter.
It seemed as if ‘The Daily’ was never something that was going to succeed at the level that Murdoch and his company thought it would. While Newscorp had high hopes for the iPad only newspaper, there were signs that there just wasn’t enough interest to keep it going. On December 15th, the digital daily news application will be shuttered for good.
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According to a statement released by Newscorp yesterday, the application will be folded up, but some of the people who worked for ‘The Daily’ will find homes elsewhere in the Newscorp family.
"From its launch, ‘The Daily’ was a bold experiment in digital publishing and an amazing vehicle for innovation," Murdoch said in the statement.
"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. Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties.
‘The Daily’ has only been around since February of 2011. It was a joint endeavor with Apple (News - Alert) considered to possibly be the next generation of journalism. The application charged either $0.99 a day or $39.99 a year. The app acted like a newspaper which covered a wide variety of topics. When it was launched, the company said that $30 million had gone into the development of the app and it was expected it would cost about $2 million a month to produce.
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Edited by Brooke Neuman