Rupert Murdoch might pull the plug on The Daily which looses $30 million a year. But, in an open email to the publication’s staff, Jesse Angelo, its editor-in-chief, was quick to deny such rumors. Eighteen months ago, The Daily was held up as embodying the newsmedia’s future. It was the first to be designed for the iPad. Fact is, The Daily never took-off. Six months after its high-wattage launch, it only claimed 80,000 paid-for subscribers. Today, Jesse Angelo mentions a mere 100,000 subs. It is both far from the 500,000 necessary to break-even.
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