When News Corp. launched The Daily in 2011, it said it spent about $30 million to start it up and estimated that operating costs would amount to about half a million dollars per week, or about $26 million a year.
Jesse Angelo, the editor-in-chief of The Daily and executive editor of the New York Post, will become publisher of the Post. Paul Carlucci, the newspaper's current publisher, will stay in his role as chairman and CEO of News America Marketing, an advertising and marketing business owned by News Corp., the company said. He's held the posts since 1997.
News Corp. said The Daily brand will "live on in other channels" while its technology and some staff will be folded into the New York Post.