Rupert Murdoch's News Corp empire is reported to have teamed up with Apple to launch a digital newspaper called The Daily on the iPad at the end of the month.
Over 100 journalists have been beavering away on the paper in secret and it is nearly ready to be unveiled to the world.
There will be no print or web edition and the paper will be available exclusively on the tablet to subscribers only. The good news is that users will have to fork out just 99 cents (62p) a week because there are no printing or distribution costs.
Analysts are predicting that around 20 million iPads could ship by the end of 2011. But Rupert Murdoch, chief executive of News Corp, is said to believe that this figure will be closer to the 40 million mark.
He also believes that Apple's device will permeate into homes and be used as the primary device for digesting media.
The Daily will be the latest project spearheaded by Murdoch, the self appointed saviour of journalism. The News Corp. chief exec has already been busy putting his extensive portfolio behind a paywall.
The Times was one of the first high-profile
casualties papers in the UK to go behind the wall. The experiment hasn't been a resounding success with traffic slumping from 21 million unique visitors per month to just 2.7 million.
Steve Jobs, meanwhile, is no doubt beaming with news that another (likely lucrative) revenue stream is added to the ever expanding Apple empire.
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