The Daily to close after 21 months

Photo: Associated Press

The Daily, one of the more ambitious subscription-model digital publications in recent memory, will publish its last edition on Dec. 15, The Guardian reports.

The News Corp. publication, which was delivered to iPad users on a daily basis, only survived for 21 months. At the time of its creation, News Corp. head Rupert Murdoch hailed The Daily as an "amazing vehicle for innovation."

"Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term," Murdoch said.

Subscribers paid either by the week ($0.99) or by the year ($39.99) to access the latest editions of The Daily.