Rupert Murdoch's 'The Daily' may not be long for this world.
The iPad-only magazine launched to great fanfare in early 2011, but has languished ever since -- chiefly because you can only access it on an iPad. This time last year, a weary Chase Carey (News Corp's COO) told Adweek that the Daily "would a very different business a year from now . . . and will continue to evolve."
The evolution could come to an end after the election, however. New York Observer's Kat Stoeffel reports today on "internal rumors that The Daily has been put 'on watch,'" following news of News Corp's decision to split its publishing and entertainment properties.
"According to a source the status of the groundbreaking iPad tabloid—which loses $30 million a year—will be reassessed after the November 6 election," Stoeffel writes.
It isn't a hard rumor to believe -- one source at News Corp tells me that talk of The Daily's death is so common as to be taken for granted -- but the November 6 deadline is new, and probably cause for some concern around the watercooler.
The Daily will be the first Murdoch news outlet to die.
With the newspapers having to stand alone without the entertainment division to hold them up, there will be other closings.
Watch out, Posties.
If The Daily is getting closed for losing $30 million a year, how do you guys survive losing $110 million a year?
Just wanted to contribute a general comment: this is a great blog you have here. Glad I found it, and sad I didn't earlier.
ReplyDeleteWhen is Murdoch going to be prosecuted for his crimes and sent to jail?
ReplyDeleteMurdoch's news media "The Daily" and the "NY Post" maybe losing money as per those reports, but I'm pretty sure that his billionaire brother, Bloomberg,is taking care of Murdoch's loses. They both have this quid pro quo of Murdoch's smear campaign against NYC teachers union and Bloomberg's pay-to-print to the Post.
ReplyDelete