News Corp has finally launched its iPad newspaper, The Daily, at an event co-hosted with Apple in New York.

Available via Apple's iTunes store, The Daily will initially be available only in the US and is to cost 99c a week – which should translate to 79p in the UK when it is launched.

The Daily will cover news with interactive features and videos, and is set to take on Virgin's iPad publication, Project.

Hinting at expansion beyond the iPad, Rupert Murdoch said at the event, "The iPad demands that we completely reimagine our craft.

The daily

"Our target audience is the more than 15m Americans who are expected to own tablets over the next year."

Apple CEO Steve Jobs, who has taken leave from Apple for health reasons, was absent from the event. In his place was Apple's Eddy Cue, vice president of Internet Services.