Newscorp's big budget, dedicated iPad newspaper set to launch

After months of top secret development, Rupert Murdoch's News Corp. appears poised to take the wraps off a digital newspaper for the iPad called "The Daily".

News Corp has been tight-lipped about the project but the Australian-born media mogul acknowledged its existence for the first time in an interview last week with his Fox Business Network.

Asked what "exciting projects" his sprawling media and entertainment company was working on, the 79-year-old Murdoch cited The Daily but offered no further information about the tabloid for Apple's touchscreen tablet computer.

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