Subscribe free to our newsletters via your
  Space Industry and Business News  

Subscribe free to our newsletters via your

Murdoch launches iPad newspaper 'The Daily'

News Corp. puts Myspace on the block
New York (AFP) Feb 2, 2011 - News Corp. put ailing social network Myspace up for sale on Wednesday. "We recognize that the plan to allow Myspace to reach its full potential may be best developed under a new ownership structure and we're evaluating those strategic alternatives," News Corp. chief operating officer Chase Carey said. "With a new content focus and structure in place we believe now is the right time for News Corp. to consider strategic options (for Myspace)," Carey said in a conference call with financial analysts. News Corp. bought Myspace for 580 million dollars in 2005 but it has been overtaken in recent years by Facebook, which has grown to more than 500 million members while Myspace's numbers have dwindled. Earlier this month, Myspace announced it was cutting some 500 jobs, nearly half its staff. In November, Carey put Myspace on notice saying the losses at the social network were "unsustainable."

News Corp. quarterly net profit up 150 percent
New York (AFP) Feb 2, 2011 - News Corp. said Wednesday that quarterly net profit rose more than 150 percent to $642 million on a strong performance by its television businesses. Revenue was up slightly in the second quarter of News Corp.'s fiscal year, rising to $8.76 billion from $8.68 billion in the same period a year ago. Earnings per share of 29 cents were better than the 28 cents per share forecast by Wall Street analysts. "News Corporation's second quarter results demonstrate the mounting vigor of our global channels business," News Corp. chairman and chief executive Rupert Murdoch said in a statement. "In the US market, our cable channels are still expanding and adding subscribers, while increasing their revenues and profits at a double-digit pace on the strength of affiliate fee increases and buoyant advertising markets. "I am also pleased with the continued recovery of our US broadcasting business, including our local TV stations and the Fox Broadcasting Company," Murdoch said.

Operating income from News Corp.'s movie business fell to $189 million from $324 million a year ago, when it released "Ice Age: Dawn of the Dinosaurs." "Black Swan" and "The Chronicles of Narnia: The Voyage of the Dawn Treader" failed to make up for the disappointing receipts for "Gulliver's Travels." News Corp. said advertising revenue was higher in its three main newspaper markets -- Australia, Britain and the United States. Operating income for the publishing segment rose to $380 million after reporting a loss of $90 million in the same quarter a year ago. News Corp. also reported lower search and advertising revenue at social network Myspace but did not provide any figures. The company did not mention The Daily in its earnings release, the digital newspaper for Apple's iPad launched by Murdoch at an event in New York earlier in the day.
by Staff Writers
New York (AFP) Feb 2, 2011
News Corp.'s Rupert Murdoch on Wednesday launched "The Daily," a digital newspaper created for Apple's iPad, in the latest move in his drive to get consumers to pay for news online.

"New times demand new journalism," the 79-year-old News Corp. chairman and chief executive said as he took the wraps off the hotly awaited publication at a press event at the Guggenheim Museum in New York.

Murdoch, an enthusiastic fan of the iPad, said there will be no print version of The Daily and it will only be available on Apple's touchscreen tablet computer for at least this year.

The Daily will be sold through Apple's App Store and iTunes and cost 99 cents a week or $39.99 a year. News Corp. will get 70 cents from each weekly subscription with Apple pocketing the rest.

Murdoch, who was joined on stage by Eddy Cue, vice president of Internet Services at iPad maker Apple, praised the iPad as an "incredible new platform" and said The Daily would provide a "fresh new voice."

The Daily would combine the latest technology with "shoe leather reporting, good editing and a skeptical eye," he said. "The Daily will be the model of how stories are told and consumed in this digital age."

Asked later by his Fox Business Network about The Daily's editorial stance, Murdoch said it will be a "very patriotic American newspaper that believes in free thinking and free markets and freedom for everybody."

He said he would consider it a success "when we sell millions."

"Our ambitions are very big, but our costs are very low," he said, adding that News Corp. had spent around $30 million developing the publication.

Without the need for news print, printing presses or trucks, Murdoch said operating costs for The Daily would run about half a million dollars a week.

He said the publication will eventually be available on other tablets.

"We expect to be on all major tablets. But we believe that this year and maybe next year really belong to Apple," he said.

In the Fox interview, Murdoch said "everybody in America who can afford one is going to buy a tablet" and "there will be well over a billion around the world" eventually.

The Daily, which has hired a staff of about 100 people from the New Yorker, Forbes, the New York Post and other publications, will arrive on a subscriber's iPad every morning and be updated during the day.

"This is not a once-a-day static product," editor-in-chief Jesse Angelo said. "We can drop in a new page any time."

The Daily's first edition featured a front page picture of a demonstrator in Egypt and the headline "Falling Pharaoh," an interview with former White House budget director Peter Orszag, his first since leaving the post, and a story on actress Natalie Portman's pregnancy.

The content is organized around news, sports, gossip and celebrity, opinion, arts and life, applications and games and features stories, graphics, video, photos and the ability to share links on Facebook and Twitter or by email.

The Daily was originally scheduled to be unveiled in San Francisco last month but the event was delayed at the last minute by Apple's announcement that chief executive Steve Jobs was going on medical leave.

Murdoch said he spoke with Jobs last week and News Corp. released a statement by the Apple chief.

"News Corp. is redefining the news experience with The Daily," Jobs said. "We think it is terrific and iPad users are really going to embrace it."

The Daily is Murdoch's latest attempt to find a way to charge readers for content online in an era of shrinking newspaper circulation and eroding print advertising revenue.

The Wall Street Journal requires a subscription for full access to and Britain's The Times and The Sunday Times, two other News Corp. papers, recently erected pay walls around their websites.

Murdoch is not the only publisher looking to the iPad for revenue, and most major US newspapers and magazines have created paid or free versions of their publications for the iPad.

In November, British tycoon Richard Branson launched a monthly style and culture magazine solely for the iPad called "Project."

Dan Kennedy, an assistant professor of journalism at Boston's Northeastern University, said he sees The Daily as an experiment for Murdoch.

"It's difficult for me to picture it being anything much more than a very modest success, almost a test lab more than anything else," he said.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
Space Technology News - Applications and Research

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

LG's first tablet to hit US market in March
Seoul (AFP) Feb 2, 2011
LG Electronics said Wednesday it would release its first tablet computer in the United States in March as it prepares to go head to head with Apple's iPad. LG said the G-slate was among the first tablet models to run on the "Honeycomb" operating system, which is Google's latest generation of Android platforms designed for mobile devices with large screens. The G-slate features a 8.9-inch ... read more

New York Times net profit dips 26 percent

A Cool Way To Make Glass

Google puts iPad in the crosshairs

Google offers Street View art gallery tours

Boeing Tests New Ka-band SATCOM Antenna System

Raytheon to supply radios to Aussie army

RAF Begin Training With US On Intelligence Aircraft

Joint STARS Successfully Supports JSuW JCTD

ISRO Awaits Data On GSLV Failure

BrahMos Aerospace To Make Cryogenic Engines For Indian Rockets

Activities At Esrange Space Center 2011

Russia Plans To Build Carrier Rocket For Mars Missions

JAXA Selects Spirent For Multi-GNSS Testing

Nokia in maps tie-up with China's Sina, Tencent

Russia To Launch New Batch Of Glonass Satellites By June

Raytheon To Open GPS Collaboration Center In SoCal

Electronic devices seen as airplane threat

China refutes the J-20 uses F-117 copies

Asia budget carriers eye social media to cut costs

US, Canada defend F-35 fighter jet

UMD Advance Lights Possible Path To Creating Next Gen Computer Chips

Samsung offers full refund for Intel chip

Silicon Oxide Gets Into The Electronics Action On Computer Chips

Toshiba returns to black for December quarter

Eruption Of Colima Volcano

Traffic Monitoring With TerraSAR-X/TanDEM-X Satellite Constellation

Veteran ERS Satellite Provides New Insight Into Greenland's Plumbing

Russia Launches Meteorological Satellite

Using Mining By-Products To Reduce Algal Blooms

Dutch to probe claims of Trafigura bribes in Jamaica

Recession did not cut back pollution: US agency

First Report On Fate Of Underwater Dispersants In Deepwater Horizon Oil Spill

The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement