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"Rupert Murdoch has announced that The Daily is to shut down from next week, after the &amp;quot;bold experiment&amp;quot; of an iPad-only news app failed to add up financially.  Alongside unveiling details of its planned business separation, Murdoch&amp;#039;s News Corporation said today that it will cease standalone publication of iPad app The Daily on December 15, 2012.   Jesse Angelo, the founding editor-in-chief of The Daily and long-time executive editor of the New York Post, will now assume the role of publisher of the New York Post.  Murdoch said that The Daily&amp;#039;s brand will &amp;quot;live on in other channels&amp;quot;, and its technology and other assets, including some staff, will be folded into US tabloid the Post.  The 81-year-old hailed The Daily as &amp;quot;a bold experiment in digital publishing and an amazing vehicle for innovation&amp;quot;, but said that the business model was just not &amp;quot;sustainable&amp;quot; going forward.  &amp;quot;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,&amp;quot; he said.  &amp;quot;Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties.  &amp;quot;Under the editorial leadership of editor-in-chief Col Allan and the business and digital leadership of Jesse, I know the New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself.  &amp;quot;I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily.&amp;quot; &amp;gt; Sky COO Mike Darcey named News International boss after Tom Mockridge exit &amp;gt; Rupert Murdoch: We screwed up MySpace &amp;gt; MySpace: Does relaunch as Spotify competitor make sense for site? This marks the latest digital flop from News Corporation, following the disastrous takeover of MySpace for $580 million in 2005. Six years later, the troubled social networking pioneer was offloaded by Murdoch for just $35m.  News Corp was also among a group of investors who pumped $87m into Beyond Oblivion, the proposed music streaming service that collapsed earlier this year before it had even managed to launch.  "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/media/news/a442539/rupert-murdoch-cans-the-daily-ipad-newspaper/>