‘The Daily’ Soon to be Axed?

According to the New York Observer, popular news app The Daily might not be so popular after all. Internal rumors at News Corp., the app’s parent company, reveal that The Daily is losing $30 million per year.

The Daily, which first debuted on the iPad in February of 2011, charges $0.99 per week or $39.99 per year for a subscription, which covers news, business, gossip, technology, sports, interviews, and more. Content is updated daily. \

Back when The Daily was released, Apple’s own Eddy Cue marveled that an interactive iPad publication could be produced on a daily basis, but that may turn out to be a short lived experiment.

Though The Daily has shifted from being iOS-centric, the publication is still hemorrhaging money. At this point, the tablet newspaper has been put “on watch” and may be reevaluated after the upcoming U.S. elections on November 6, as its parent company cuts costs for restructuring.

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