The long-expected death of The Daily, the iPad publication of Rupert Murdoch's News Corporation, has finally come to pass. Layoffs took place over the summer, when the publication discarded 50 of its 170 workers. Eleven months ago, The Daily's plans for becoming profitable were described as such: "A $30 million tablet-only news publication… with 100,000 subscribers paying 99 cents a week or $39.99 a year, and 250,000 unique readers each month, The Daily is on target to break even in five years." The Daily cost $500,000 per week, and that was just according to the company.
Our best goes out to people who are losing their jobs because of the poor planning of millionaires. One of those people will not be the honcho of The Daily, Jesse Angelo; he will take over as publisher of the New York Post. Which also is not profitable.