News Corp to shut down The Daily on December 15

The Daily has only about 120,000 readers

News Corp announced today in a press release that it is shutting down The Daily, its ground-breaking iPad-based newspaper. News Corp CEO Rupert Murdoch said this about the iPad-based venture:

“The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation. 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. 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.”

News Corp will stop publishing The Daily on December 15 and will transfer some staff and technology  to the New York Post.

[Via AllThingsD]

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