Rupert Murdoch Is Folding 'The Daily'
In 12 days, Rupert Murdoch's tablet publication The Daily will be shutting down, and for one simple reason: The world's first bold foray into iPad-only newspapering wasn't making Mr. Murdoch enough money. Business Insider has the full release of the schmaltzy, feel-good spin that accompanies this not-good news for the horde of talented journalists working there. But the gist of the closure is best encapsulated by The Guardian's Mark Sweney:
News Corporation to shut The Daily iPad app from 15 December. "Bold experiment" but not profitable, says Murdoch
— Mark Sweney (@marksweney) December 3, 2012
Murdoch stuck with the "bold experiment" for a little under two years — The Daily launched on February 2, 2011. Now, after the company announced over the weekend that former Wall Street Journal managing editor Robert Thompson would run News Corp.'s publishing side, comes this tidbit, which could point to bigger restructuring news at the company:
News Corporation also announced that effective immediately, Jesse Angelo, the founding Editor-in-Chief of The Daily and long-time Executive Editor of The New York Post, will assume the role of Publisher of The New York Post.
The release says that the "brand will live on in other channels" — and, just like Angelo, "technology and other assets from The Daily, including some staff, will be folded into The Post."
