Murdoch to invest £19.2 million in iPad Newspaper

Rupert Murdoch has high hopes for the iPad as a medium for reading newspapers. Latest rumours are that he is wanting to invest almost $30 million dollars in his digital newspaper project “The Daily”.

This newspaper is to be designed exclusively for the iPad, and Murdoch wants to get a hundred people working on it, to ensure the highest levels of quality possible. He is taking it seriously as he wants a new team, to focus on casual, younger commuters.

The UK newspaper “The Times” have been successful with their digitial version of their daily newspaper, although Murdoch would have to sell a lot of copies of “The Daily” to even cover his costs. We all know the iPad is selling well, but there is very little solid buying trend evidence with monthly subscription plans. To cover the costs of 100 journalists would need a very high adoption rate and a continued increase in subscriptions, even if Apple managed to sell 10 million iPads in the coming months.

KitGuru says: Whatever the outcome, Murdoch is certainly willing to take chances and to put his money at risk in the process.

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