As reported by Mark Sweney on the Guardian website yesterday: News Corporation said that The Daily, which was unveiled in a high-profile launch in February 2011, will "live on in other channels" with technology and some staff being integrated into the New York Post.
The Daily was losing $30m a year and amassed about 100,000 subs, according to an open email in June from founding editor-in-chief Jesse Angelo. Angelo, a close friend of James Murdoch, will take the role of publisher at the New York Post, returning to a title where he was previously executive editor.
"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation," said Murdoch. "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".
