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The publishing house announced the news today in a broad announcement covering a wide range of changes at the company. The Daily as a standalone publication will be shuttered, but News Corp. said that its "brand will live on in other channels." Some staff, for example, will be sent to The New York Post.
"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation," News Corp. chairman Rupert Murdoch said today in a 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.
"I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily," Murdoch continued.
The Daily launched in February 2011 to much fanfare. The publication lived only on the iPad and came with a daily rate of 99 cents or an annual fee of $39.99. Rather than focus on a single news topic, The Daily tackled a host of areas, including technology, general news, and sports.
Earlier this year, The Daily was placed on probation, as News Corp. tried to determine if digital newspaper was worth keeping. Just a couple of weeks later, News Corp. announced that it would lay off 50 The Daily employees, amounting to nearly one-third of the publication's workforce. The app also lost sports coverage and much of its opinion content.
Source: Cnet.com | Don Reisinger