News Corp's digital tablet magazine The Daily is letting go of 50 employees, around 29 percent of its total, as it streamlines production to focus on its most popular features.
Launched just 18 months ago, The Daily was News Corp chief Rupert Murdoch’s risky bet that he could reinvigorate his news business with tablet devices like Apple Inc’s iPad.
But The Daily has struggled to find its feet in a turbulent and uncertain news market, where well-established print papers have been cutting staff and going through numerous restructurings as circulation and advertising dollars shrink.
As part of the changes, The Daily’s sports pages will be provided by its sister company Fox Sports and it will lose its opinion section.
The publication will move to a portrait-only orientation which it said is how the vast majority of its readers’ view the pages. Video will still be viewable in landscape mode, it added.
The publication operates on a traditional subscription news model at the cost of 99 cents a week or $39.99 a year.
Editor-in-Chief Jesse Angelo said in a statement the changes would help make the title more nimble to focus on readers interests better.
“Unfortunately, these changes have forced us to make difficult decisions and to say goodbye to some colleagues who have worked hard to make The Daily successful.”
A News Corp spokesman said the media giant remains committed to The Daily.
The Daily will be part of a new News Corp publishing and information company after the 60-year-old media giant splits into two separate companies sometime in 2013.
The Daily will sit alongside The Wall Street Journal, UK tabloid The Sun, the Amplified education division and book publisher Harper Collins among other units.
The larger News Corp business will house its entertainment properties including Fox Broadcast, cable networks such as FX and National Geographic as well as Hollywood studio 20th Century Fox. DM
Photo: Rupert Murdoch (Reuters)
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