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The Daily reportedly put 'on watch' as News Corp. looks to cut costs

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According to the , The Daily has been put "on watch" by News Corp. as the company attempts to reduce costs.


News Corp.'s tablet and smartphone news publication The Daily has reportedly been put "on watch," as the company attempts to find new ways to reduce costs. According to the New York Observer, citing "internal rumors," The Daily will be re-evaluated after the US presidential election, which takes place on November 6th. The publication is reportedly losing $30 million annually, though it may not be the only member of the News Corp. family under fire. Internal newswire service Newscore is shutting down, according to the Observer, with an estimated 20 positions eliminated, while SmartMoney magazine has also been singled out as a "money loser." The Daily initially launched in February 2011 as the first iPad-only newspaper, and has since expanded with versions for the iPhone and Samsung Galaxy Tab 10.1.