NEW YORK (Reuters) -News Corp Chairman Rupert Murdoch, among the most ardent defenders of the traditional press, introduced the first ever newspaper created solely for tablet devices like the iPad.
The Daily, an electronic newspaper available in the U.S. that covers everything from national politics to sports, costs 14 cents per day; 99 cents a week or $39.99 a year. The first two weeks will be free courtesy of Verizon Communications.
News Corp is making a big bet that starting a newspaper from scratch dedicated to tablet devices could help revive the news industry beset by declining advertising revenue and readership. Just three years ago, Murdoch spent close to $6 billion buying Dow Jones, publisher of the Wall Street Journal.
Murdoch said the company had spent around $30 million developing The Daily. He said it would cost around $500,000 a week to run it and would measure his success by “selling millions” of subscriptions.
“Our ambitions are very big, but our costs are very low.”
Editor Jesse Angelo said The Daily’s stories will be told through text, photos and high-definition video.