Media mogul Rupert Murdoch and News Corp., kicked off The Daily today, a publication built for the iPad and - Murdoch hopes - the next generation of readers.
For a yearly subscription fee of $39.99, The Daily will delivery to iPad owners up to 100 pages of news and information each day, Murdoch, News Corp's chairman and his lieutenants told the gathering of media and supporters at New York's Guggenheim museum.
The publication will feature HD-quality video and 360-degree photos that users can interact with. Of course, what self-respecting digital-age news publication is complete without lots of social networking?
Murdoch played up a positive review The Daily has already received from one important user. He said it was applauded by Apple CEO Steve Jobs. Jobs
"He did call me last week and he did say that he believed that the app was really terrific," Murdoch said. "He was extremely flattering."
Price is a huge factor for The Daily. Murdoch is betting big that The Daily will prove that consumers of news will pay for digital content. News Corp. said that one can either pay $0.99 per week for the publication or $39.99 up front for the entire year.
During the question and answer portion of the press event, Murdoch was asked he will define success. "Our ambitious are very big. Our costs are very low," he said, adding that he has spent $30 million in development.
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