News Corp.’s The Daily Shutdown Affects 126 Employees

News Corp. (NWSA)’s plan to shut down its electronic newspaper The Daily, a move announced earlier this week, will affect 126 jobs, according to a state filing.

News Corp. set a closing date of March 5 for paper, according to the filing with the state of New York.

The company said on Dec. 3 that it would close The Daily, part of its plan to break up News Corp. into publishing and entertainment arms. The electronic publication, started in early 2011 to capitalize on the popularity of tablets, has struggled to attract subscribers.

When The Daily started, News Corp. Chief Executive Officer Rupert Murdoch said it would need 500,000 subscribers to reach profitability. The Daily had about 100,000 earlier this year.

The Daily’s editor-in-chief, Jesse Angelo, will become publisher of News Corp.’s New York Post, the company said earlier this week. Paul Carlucci, now the Post’s publisher, will focus exclusively on his role as chairman of News America Marketing.

Jennifer Tartikoff, a spokeswoman for The Daily, didn’t immediately respond to a request for comment.

To contact the reporter on this story: Edmund Lee in New York at elee310@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net

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