According to high-end women's fashion journal Women's Wear Daily, News Corp CEO Rupert Murdoch and Apple Chief Executive Steve Jobs have worked together closely on the project, which will be called The Daily. It said that Jobs and Murdoch could appear onstage together to unveil the new product.
But The Guardian in the U.K. went one step further, and said that the tablet-only project will be a joint effort between News Corp and Apple. The product, which will not have a print edition or web edition, will allegedly be developed with assistance from Apple engineers.
However, the product will not be iPad-only, the reports said. News Corp's The Daily will reportedly be available for other tablet devices, though Murdoch is said to believe the iPad will be a "game changer," as the device most families use to get their news and information.
The tablet publication will reportedly be run from the 26th floor of the News Corp offices in New York, where 100 journalists have been hired. The product could be announced alongside a rumored newspaper subscription plan Apple is said to be working on.
Apple is also rumored to be creating a new standalone application that will serve as a digital newsstand for magazines and newspapers. Like iBooks makes books available through a separate application, Apple's newsstand will reportedly be created specifically for newspapers and magazines.
A News Corp executive recently confirmed that the company is working on an iPad specific publication set to launch in the U.S. in the coming months. The newspaper will reportedly initially be a U.S.-only product.