Rupert Murdoch’s iPad Folly The Daily Folds

Buried inside that News Corp press release is the announcement that its little-read and even less talked about The Daily has formally failed. The iPad-only paper launched by Rupert Murdoch with much fanfare in February 2011 and then made many layoffs this summer claiming the firings would make the “business stronger”. Nope. The Daily will publish its last iPad issue on December 15th. While dozens may lose their jobs, I’m sure it will ease their pain that The Daily’s founding Editor-In-Chief Jesse Angelo is getting a promotion thanks to cronyism. Angelo is a longtime Murdoch family friend and James Murdoch pal and now will become publisher of the New York Post. Angelo also is the son of John Angelo of NYC hedge fund Angelo Gordon & Co, which was one of Tribune Co’s biggest creditors. (Little wonder there’s speculation that Murdoch might buy the Los Angeles Times.)

Related: News Corp. Details Proposed Separation Of Businesses; The Daily To Cease (more…)

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