Thursday, July 12, 2012, 12:51 pm PT (03:51 pm ET)
News Corp's money losing 'The Daily' put 'on watch' - reportNews Corporation's tablet and smartphone-only publication The Daily, which first debuted on Apple's iPad, has reportedly been put "on watch" as its parent company restructures and looks to cut costs.
The details come from "internal rumors" at News Corp., according to the New York Observer, which reported this week that the status of The Daily will be reassessed after the U.S. elections on Nov. 6. The iPad-centric tabloid was said to be losing $30 million a year in its current state.
The Daily debuted on the iPad in early 2011, and brought about in-app subscriptions on Apple's iOS App Store. The digital-only publication costs 99 cents per week, or $39.99 per year, and covers hard news, business, Hollywood gossip, sports, technology and more.
Eddy Cue, Apple's senior vice president of Internet Software and Services, was on-hand with News Corp. CEO Rupert Murdoch in 2011 to unveil and launch The Daily for iPad. He said it was "incredible" that a publication of its kind, with interactive features and exclusive content, could be produced on a daily basis for the iPad.
The Daily remained exclusive to Apple's iPad for a year, before debuting early this year to some Android-powered tablets, such as the Galaxy Tab 10.1. The publication also debuted on Apple's iPhone with a cheaper subscription option of $19.99 per year in May.
Since its launch, The Daily has been the source of some Apple-related rumors and scoops, most notably a claim that a version of Microsoft Office is coming to the iPad. While the publication even showed a screenshot of Office for iPad and claimed it was completed, it has yet to be released, with a Nov. 10 launch date reportedly set.
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