Rupert Murdoch's News Corporation is reportedly set to team up with Apple to launch an iPad newspaper called 'the Daily' this month.

Jobs and Murdoch hope that the new iPad newspaper, called 'the Daily' is set to be a game changer when it arrives later in November, according to reports in US newspapers over the weekend.

The iPad newspaper project has been under development in New York for months, with both company's hoping that providing quality exclusive content to the iPad should prove to be both profitable and revolutionary.

Tabloid meets Broadsheet

The editorial line of 'the Daily' hopes to combine "a tabloid sensibility with a broadsheet intelligence", and there is no print edition or – most interestingly – web edition planned.

So if you don't have an iPad or a compatible tablet PC device, you will not be able to subscribe and obtain the content on offer from the Daily.

The Daily is set to be US-focused and will cost 99 cents (62p) a week. News Corp has reportedly hired 100 journalists to work on the project to date.

An announcement is soon to be made about the publication's editor, with rumours in Manhattan media circles pointing towards Jesse Angelo, the managing editor of the New York Post .

One source told The Guardian: "He envisions a world in which every family has a iPad in the home and it becomes the device from which they get their news and information. If only 5% of those 40 million subscribe to the Daily, that's already two million customers."

The Times recently claimed to have over 100,000 paying customers for its subscriber-only online edition.

"Obviously, Steve Jobs sees this as a significant revenue stream for Apple in the future," noted Roger Fidler, head of digital publishing at the Donald W Reynolds Journalism Institute.

Via The Guardian