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News Corp Launches iPad Only Newspaper The Daily In US

News Corp has announced the launch of its iPad only newspaper, The Daily, an event on Wednesday.

Joined by Apple’s vice president for Internet services Eddy Cue, News Corp chairman Rupert Murdoch and executives Jesse Angelo and Jon Miller to herald in the start of a “digital renaissance” at a press conference at the Solomon Guggenheim Museum in New York.

The Daily will offer up to 100 pages of content each day - “depending on the news” - and is stacked full of other features designed to make the most of the iPad’s functionality, including HD video and 360 degree photos.

Murdoch hinted at plans to make his new publication available on all major tablets sometime in the future, but said that the next couple of years “really belong to Apple”.

Having already sunk some $30 million into the venture, the 79 year-old media mogul is expecting great things from the paper.

According to Murdoch, he will only declare The Daily a success “when we’re selling millions.”

“Ambitions very big but costs are very low. If talk about success financially it's a low figure but we can be more ambitious than that,” he said.

The Daily will cost “less than half a million dollars a week” to keep it going, he added, so it’s going to need a chunk of that predicted 50 million American tablet owners to sign up for Murdoch to turn a profit.

Initially only available in the US via iTunes, The Daily will cost 99 cents per week or $39.99 per year.