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Murdoch: The Daily Will Cost $0.14 Per Day Or $0.99 Per Week

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At todays much anticipated launch of News Corp.’s iPad-only newspaper The Daily, Rupert Murdoch unveiled the new journalism venture.

Murdoch revealed that The Daily will cost $0.14 per day ($0.99 per week) and says the app will be “the model for how stories are told and consumed.” The app will also include “stunning photography” and HD video. Murdoch adds that Apple’s Steve Jobs has changed “the world of technology and media” and that Jobs has been a “champion of The Daily since day one.”

Murdoch reiterates, these “new times demand new journalism.” Yearly subscriptions to The Daily will cost $40 per year. In terms of cost of production, Murdoch said that the development of The Daily set News Corp. back by $30 million or so, but will only cost the media conglomerate $500,000 per week in operation costs.

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