As part of a lengthy press release sharing details on its separation into two independent publicly traded companies, News Corporation announced that it will be shutting down its digital newspaper The Daily on December 15. The Daily launched in early 2011 at a media event hosted by Rupert Murdoch and Apple's Eddy Cue, with the iPad-focused newspaper positioned as a groundbreaking new publishing paradigm priced at just $0.99 per week. Apple's Eddy Cue (left) and News Corp.'s Rupert Murdoch at the launch of The DailyBut rumors of The Daily's potential cancelation began surfacing earlier this year as the publication continued to draw revenues well below that needed to sustain the initiative, and even a 30% cut in staff was not enough to save it. Aside from its attempts to make its mark as a new newspaper publishing model, The Daily also led the way for Apple's In App Subscription effort, allowing users to simply and easily sign up for recurring content subscriptions directly within apps and billed to their iTunes Store accounts. Article Link: News Corporation Shutting Down Digital Newspaper 'The Daily'