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News Corp to Shut Down iPad newspaper The Daily

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The popular iPad newspaper The Daily has failed to meet its cost and has Rupert Murdoch’s media firm News Corp has decided to shut it down.

To bear the fruits of upcoming tablet technology the firm invested a great deal in the digital newspaper to make it an interactive and compelling read.

The newspaper, which attracted only around 100,000 subscribers, will last be published on n 15 December, News Corp said.

According to the Telegraph, Murdoch admitted the economics of The Daily had not worked, despite low overheads relative to a print newspaper.

“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.

The newspaper was introduced in February last year

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