'The Daily' iPad newspaper ceases to exist

It's always sad when things don't work out the way they were planned. About two years ago, News Corp. launched one of the first iPad-only newspapers - The Daily. It was an ambitious project that, unfortunately, failed to attract enough audience. Because of that silly, little problem, The Daily will be discontinued on December 15.

Thankfully, some aspects of The Daily will remain within News Corp. and will be transferred to the (obviously much more profitable) New York Post. This includes unspecified "technology and other assets," as well as part of the staff. Here's the official statement by Rupert Murdoch saying 'bye-bye' to The Daily:

From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation. 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. Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties. 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. I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily.