As part of a separation of its businesses, Rupert Murdoch's News Corp. announced today that it will cease standalone publication of The Daily, its made-for-tablets news publication, which was supposed to save the newspaper industry by example.
News Corp. says it will fold technology, some staff, and "other assets" from The Daily into The New York Post. Founding Editor-in-Chief of The Daily and long-time Executive Editor of The New York Post, Jesse Angelo, will assume the role of Publisher of The New York Post.
The Daily will live on as a brand via other, unspecified channels.
As I said in my initial review of the The Daily, as it first launched nearly two years ago, much of the content found is around topics that are widely discussed in other free sources on the web. It's not that what The Daily has provided has not been of quality. It's simply that there is also plenty of quality to be found in much more accessible ways.
Murdoch says it just couldn't find it's audience. I can't say I'm surprised.
"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation," he said. "Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term. Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties."
"Under the editorial leadership of Editor-in-Chief Col Allan and the business and digital leadership of Jesse, I know The New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself," Murdoch added. "I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily."
The Daily proudly proclaims on its about page, "In 2011 The Daily was the #1 news app on the App Store, and in its short tenure it has won several digital, design, and app awards, outperforming longtime brands and publications."
Publication of The Daily's app will cease on December 15.
Dow Jones Editor-in-Chief and Managing Editor of The Wall Street Journal Robert Thomson will become the CEO News Corp.'s new proposed publishing entity, following the company's intended separation into two independent, publicly traded companies, the company says. The publishing entity will continue to be known as News Corp.
The media and entertainment company, which the company says began in earnest when Murdoch acquired 20th Century Fox and launched the Fox Network over 25 years ago, will be named Fox Group.
As the company announced in the past, Murdoch will serve as Chairman of the new News Corp., and Chairman and CEO of Fox Group. Chase Carey will serve as President and COO of Fox Group. James Murdoch will continue to serve as Deputy Chief Operating Officer.