News Corp to close digital-only paper The Daily

News Corp CEO Rupert Murdoch launched the iPad publication 'The Daily' in New York in February 2011 Credit: Reuters/ Brendan McDermid

Rupert Murdoch has announced he will shut the tablet newspaper The Daily from December 15, saying the business model for the publication was not sustainable. The paper was only available on iPad, iPhone, Android phones or Kindle Fire.

Announcing the decision today amid a number of changes to New Corporation and Fox Group, Mr Murdoch said the lessons learned from The Daily would be applied to other titles within the group. Technology "and other assets, including some staff" will be folded into The New York Post. He said:

"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation. 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"

"Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties. [...] I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily."