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Murdoch’s The Daily Lays Off 1/3 of Staff

Digital publication trying to focus on most popular features


A digital publication called The Daily, owned by Rupert Murdoch’s News Corp (NASDAQ:NWSA), recently announced that it is laying off 50 employees — around one-third of its staff — in order to focus completely on its most popular features, The Associated Press reports.

Some changes coming along with the layoffs include: scrapping its sports reporting to instead use content from Fox Sports; doing away with its opinion section and replacing it with occasional opinion piece; and getting rid of horizontally published pages.

The Daily‘s app is available on Apple‘s (NASDAQ:AAPL) iPads and iPhones and tablet computers that use Google‘s (NASDAQ:GOOG) Android system.

The publication was launched at the beginning of 2011 and has had a slow start. After a year, the publication only had 100,000 subscribers who paid up to 99 cents per week, and about 250,000 visitors each month. And that traffic came with a $30 million production price tag — per year.

Still, its website advertises that it was the No. 1 news app on the App Store in 2011.

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Article printed from InvestorPlace Media, http://investorplace.com/2012/08/murdochs-the-daily-lays-off-13-of-staff/.

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