toggle

AAPL Stock: 100.96 ( -0.83 )

Printed from http://www.macnn.com

News Corp. considering cutting The Daily, source says

updated 12:00 pm EDT, Thu July 12, 2012

Tablet-based news app said to be losing millions

News Corporation may be on the verge of shutting down The Daily, according to a source in contact with the New York Observer. The publication has allegedly been put "on watch" because of ongoing financial losses totaling about $30 million per year. Its fate is expected to be reevaluated after the US Presidential elections on November 6th.

The Daily was launched to intense media attention in February 2011, and developed with help from Apple, which brought in-app subscriptions to the App Store for the first time. The publication was initially restricted to the iPad however, and only relatively recently has it become accessible on the iPhone, as well as Android tablets and smartphones. That may be hampering its audience; critics have also complained about factors like a conservative bias, and tabloid-style content.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Autodesk Smoke 2015

Since May of this year, Autodesk has been shipping the highly anticipated update to its high-end post-production video editing suite, ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

toggle

Most Commented