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tablet-stained wretches

Rupert Murdoch’s The Daily ‘On Watch’ in News Corp. Split

NEW YORK, NY - FEBRUARY 02: News Corp. CEO Rupert Murdoch walks on stage with an iPad for the launch of his new online newspaper for the Apple iPad called The Daily on February 2, 2011 at the Guggenheim Museum in New York City. The new media product is owned by News Corp. and will be sold for 14 cents a day.  (Photo by Spencer Platt/Getty Images) *** Local Caption *** Rupert Murdoch

Within a New York Observer report today about the quiet closing of News Corp.'s internal wire service Newscore comes the somewhat unsurprising revelation that the company's iPad newspaper is "on watch" and will be reevaluated after the presidential election. Rupert Murdoch's news-of-the-future pet project is said to lose $30 million a year, a number that will stick out more sorely when the publishing business no longer has the profits of Fox News and the rest of the media division to hide behind. While the New York Post bleeds a similar shade of red, it at least has tabloid seniority.

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Photo: Spencer Platt/2011 Getty Images