News Corporation's Rupert Murdoch is extending his media empire once again - this time with a digital newspaper for the iPad called the Daily.
Rupert Murdoch told an audience at the Guggenheim Museum in New York that he hoped it would be an "indispensable source of news" in the tablet era.
The Daily will cost 99 cents (60p) a week and will be sold exclusively via Apple's iTunes store.
News Corp has hired about 100 journalists to work on it.
The paper will initially only be available in the US.
The Daily will feature news articles, interactive graphics, HD videos and 360 degree photos designed to work with the iPad's touchscreen.
It will add Twitter feeds into some articles and offer personalised content.
"Our target audience is the 15 million Americans expected to own iPads in the next year," said Mr Murdoch.
"In the tablet-era there is room for a fresh and robust new voice. New times demand new journalism," he said.
He promised that the Daily would combine the best of contemporary technology with "shoe leather reporting, good editing and a sceptical eye".
According to Eddy Cue, Apple's vice president of internet services, 200m news apps have been downloaded and there are 9,000 different news apps to choose from. BBC News
