The Daily dedicated newspaper for the iPad has been closed, after failing to attract readers prepared to pay the $.0.99 per week subscription over its two-year lifespan.
Launched in a blaze of publicity by proprietors Rupert Murdoch’s News Corp amid bold claims that it would chance the face of publishing, the app-cum-newspaper will officially close on November 15th.
Some staff, including editor Jesse Angelo, will be subsumed into The New York Post, but redundancies are also expected.
Murdoch said: “From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation.
"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."
The Daily was believed to be losing in the region of $30 million per year and was only able to garner 100,000 subscribers. To break even, it would have required 500,000, according to The Guardian.