Murdoch’s iPad newspaper launches in US only

News Corp chairman Rupert Murdoch, among the most ardent defenders of the traditional press, has introduced the first newspaper created solely for tablet devices.

Murdoch's iPad newspaper launches in US only

The Daily, an electronic newspaper that covers everything from national politics to sports, costs 14 cents per day, 99 cents a week or $39.99 a year. The first two weeks will be free courtesy of Verizon Communications.

However, the newspaper will initially only be available to US iPad owners. UK users will have to set up a US iTunes account to gain access to The Daily.

News Corp is making a big bet that starting a newspaper from scratch dedicated to tablet devices could revive the news industry beset by declining advertising revenue and readership. Only three years ago, Murdoch spent close to $6 billion buying Dow Jones, publisher of the Wall Street Journal.

Murdoch said the company had spent around $30 million developing The Daily. He said it would cost around $500,000 a week to run it and would measure his success by “selling millions” of subscriptions.

“Our ambitions are very big, but our costs are very low,” Murdoch told a press conference.

Editor Jesse Angelo said The Daily’s stories will be told through text, photos and high-definition video.

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