Richard Branson's Virgin company is set to launch an iPad-only magazine, just a few days after rumours of a similar venture by Rupert Murdoch's News Corp emerged.
The two billionaires have clashed before by proxy, in the broadband and TV broadcast sector with Sky and Virgin Media. Murdoch won the TV broadcast war with the purchase (and soon-to-come dismantling) of formerly owned Virgin TV channels.
However, the latest scuffle between Virgin and News Corp is quite different. The former already have minor magazines like Electric for Virgin Media customers, Virgin Blue and Seat Back (for VA passengers) and Virgin Money.
However Virgin is no match for News Corp media powerhouse (Sky, Fox, Times etc) which is one of the largest worldwide; for "The Daily" iPad magazine, Murdoch is said to have earmarked a $30 million budget and a staff of 100 journalists.
Virgin is touting its iPad magazine as a "revolutionary multimedia" publication but failed to give more details regarding its editorial content. We only know that it will be led by Richard Branson's 29 year-old daughter and Antony Noguera, the former editor of Lads magazine Zoo, Arena and FHM.
That said, it is too early to say whether the "Project" magazine is "just" a vanity venture by Richard Branson or a serious one which marks the beginning of something big for Virgin.