IPad newspaper The Daily launches its first edition

the_daily.top.jpgThe first edition of The Daily leads with the turmoil in Egypt. By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney) -- News Corp. CEO Rupert Murdoch and a gaggle of tech and media chroniclers gathered Wednesday at the Guggenheim Museum in New York for a first look at the debut edition of The Daily, News Corp.'s experimental iPad "newspaper."

Joined by Apple executive Eddy Cue, the company's Internet division chief, Murdoch unveiled the publication to which his company has committed around 100 staffers and an investment of $30 million.

"The iPad demands that we completely re-imagine our craft," Murdoch said. "I'm convinced that in the tablet era there's room for a fresh and robust new voice."

Apple has sold 14.8 million iPads since its tablet hit the market in April. Murdoch said he expects the tablet audience to grow to more than 50 million within the next year.

It represents an opportunity to "make the business of editing and news gathering viable again," he said.

"No paper. No multi-million dollar presses. No trucks," Murdoch said. "We're passing on these savings to the reader, which is why we can offer The Daily for just 14 cents a day."

News Corp. (NWS, Fortune 500) can operate The Daily for $500,000 a week, Murdoch said, which translates to an annual operating cost of $26 million.

The news industry patriarch said he will consider the publication a success "when we're seling millions. Our ambitions are very big, our costs are very low."

Inside the app: The Daily focuses on multimedia interactivity.

"News doesn't exist in a vacuum anymore," said Jon Miller, News Corp.'s digital chief. "It's shared, it's social, and the ability to follow links is crucial."

Video is integrated throughout, and readers can drill down into stories for more data. Weather pages pull up current forecasts, celebrity stories integrate the subject's Twitter feed, and the sports section includes customizable schedules and stats.

Buttons on news stories let readers push them out to Facebook, e-mail and Twitter, and post comments.

Stories pushed out through such channels will be available for free to those who follow those shared links, but the publication itself will not be posted online for free, editor Jesse Angelo said.

The first edition went live in Apple's App Store at 12 p.m. ET. The Daily is the first "app" Apple will sell under a subscription model, with new editions pushed out automatically to subscribers' iPads. Subscriptions are priced at 99 cents per week. The first two weeks will be free.

Asked when other news publications will be able to sell subscriptions, Apple (AAPL, Fortune 500) executive Cue answered: "You'll hear an announcement from us very soon."

The first edition's front page story, called "Falling Pharaoh," is about the turmoil in Egypt and President Hosni Mubarak's slipping grip on power.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,162.99 121.45 0.67%
Nasdaq 5,106.59 73.84 1.47%
S&P 500 2,123.48 19.28 0.92%
Treasuries 2.14 -0.00 -0.09%
Data as of 10:51pm ET
Company Price Change % Change
Bank of America Corp... 16.74 0.24 1.45%
Michael Kors Holding... 45.93 -14.66 -24.20%
Broadcom Corp 57.16 10.24 21.81%
Apple Inc 132.04 2.42 1.87%
AbbVie Inc 67.38 1.28 1.94%
Data as of 4:04pm ET
Sponsors

Sections

Walmart settled with comedian Tracy Morgan over a crash that left him seriously injured. A Walmart truck rear-ended a limo bus Morgan was riding in on the New Jersey Turnpike nearly a year ago. More

Workers with college and graduate school degrees saw their wages fall the most last year. The least educated saw a slight bump in pay. More

Apple's new "CarPlay" system, which allows drivers to use iPhones behind the wheel, is raising concerns among auto safety experts. More

Karlos Dansby, a linebacker with the Cleveland Browns, is bringing his winning strategy from the football field into the startup arena. More

Apple's new "CarPlay" system, which allows drivers to use iPhones behind the wheel, is raising concerns among auto safety experts. More