"NO paper, no presses, no trucks."
With those words, uttered this morning by News Corp chief executive Rupert Murdoch, the world of journalism turned a virtual page as The Daily, an iPad publication designed to revitalise the industry, was launched.
The Daily will implement a mix of written articles and video and will be sold for subscriptions of 99 cents per week or $39.99 per year, Mr Murdoch said. It was scheduled to go on sale in the iPad app store shortly after the event.
The publication will feature 360-degree photographs, graphics that respond to the touch and "other innovations that are unthinkable in print and television", Mr Murdoch said. "This pioneering digital venture, fully championed by Steve Jobs and the rest of his team at Apple, establishes an entirely new category of delivery and consumption," Mr Murdoch said in an email to employees. "I am especially proud that we have done so by building on News Corporation's decades-old legacy of exceptional journalism". News Corp, in coordination with Apple boss Mr Jobs, has been developing The Daily for months, according to reports. Mr Jobs had been scheduled to attend today's presentation, but announced last month that he had taken a leave of absence from his job due to medical issues.
Traditional print advertising has fallen nearly 50 per cent from 2005 levels, according to recent revenue figures from the Newspaper Association of America. But with a versatile platform and a firm subscription model in place, Mr Murdoch said he was confident the iPad could return journalism to profitability.
