News Corporation’s tablet and smartphone based publication, “The Daily” which first saw its debut on the Apple iPad, has reportedly been put “on watch” as the parent company is restructuring and looking for costs to cut.
The details come from “internal rumors” at News Corp., according to the New York Observer, which reported this week that the status of The Daily will be reassessed after the U.S. elections on Nov. 6. The iPad-centric tabloid was said to be losing $30 million a year in its current state.
The Daily, which debuted on the iPad in early 2011, costs 99 cents per week, or $39.99 per year. The publication covers hard news, business, Hollywood gossip, sports, technology and more.
Eddy Cue, Apple’s senior vice president of Internet Software and Services, and News Corp. CEO Rupert Murdoch were on hand at the launch of The Daily for the iPad. Cue remarked that it was an “incredible” publication, and could be produced on a daily basis for the iPad.
The Daily was exclusive to the iPad until debuting earlier this year on some Android-powered tablets. The publication also premiered on the Apple iPhone with a cheaper subscription option of $19.99 per year, in May.