Even a media mogul like Rupert Murdoch can't always find success online.
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Perhaps there wasn't enough knowledge that it existed. Or maybe the fact it was designed to be like a traditional newspaper, without the constant news updates that are expected on the Internet, was a turnoff. Then there was the $40 yearly subscription price for an untested brand.
What this failure shows is that online media is still full of obstacles that derail even the most researched business plans. It's estimated Murdoch may have lost $30 million a year on this short-lived experiment.
In a year of bad news for him, the good news is that News Corp. reported an operating income of $1.38 billion in its most recent quarter. So with that perspective, The Daily lost what amounts to the loose change that you probably have under your sofa cushions.