No surprise here--News Corp kills its iPad newspaper

Old media still doesn't "get it"--

News Corp. kills The Daily, its iPad newspaper - Dec. 3, 2012: "In the digital age, the shuttering of newspapers has become routine. But it seems even a newspaper designed for the gadget world can't survive: News Corp. is folding The Daily, its tablet-focused publication. News Corp. (NWS) and CEO Rupert Murdoch poured $30 million into the launch of The Daily, which first hit tablet screens in February 2011. The newspaper was initially available only on Apple's (AAPL, Fortune 500) iPad and it later expanded to other tablets like Amazon's (AMZN, Fortune 500) Kindle Fire and devices running on Google's (GOOG, Fortune 500) Android. The venture garnered criticism immediately upon launch, withnaysayers questioning the wisdom of targeting a growing but limited potential readership: tablet owners. Just a few readers wouldn't be enough to pay the bills. In addition to an initial $30 million investment, News Corp. also committed around 100 staffers to The Daily and estimated it would spend $26 million a year to keep the newspaper running."

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