On Monday, a press release from News Corp noted that their news and entertainment division would be spitting up and there would a new CEO for the publishing division. In this separation of businesses, News Corp has proposed a plan to entirely shut down its iPad-focused newspaper, The Daily.

The Daily launched on February 11th last year, in an attempt to focus on online publishing, specifically for tablets such as the iPad. The news division will keep the name News Corps, while News Corp’s entertainment division will split and be named Fox Group. Also in the separation the editor-in-chief of the Daily,Jesse Angelo will become publisher of The New York Post. Angelo was Executive Editor at the New York Post, and will now be moving up.

As part of a digital restructuring initiative, the company will cease standalone publication of The Daily iPad app on December 15, 2012, though the brand will live on in other channels. Technology and other assets from The Daily, including some staff, will be folded into The Post.

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. Under the editorial leadership of Editor-in-Chief Col Allan and the business and digital leadership of Jesse, I know The New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself. I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily.

The Daily was a sort of test to try out digital publishing aimed specifically at tablets, however, it seems that it has not yet reached the level of popularity as expected by News Corp. News Corp notes that much of its staff and technology from The Daily will be moved over to The Post, which will allow the company to retain its employees and the ideas proposed with The Daily. With this split, and major transitions, it will be interesting to see what News Corp plans to do in the future as their next big project.

{Via iMore — Image Credit: TabTimes}

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