Apple and News Corp. set to announce The Daily on Wednesday

Invitations to a press event being held by both Apple and News Corp have been sent out over the past week. The event is taking place in New York on February 2 and is set to herald the launch of “The Daily” an iPad only newspaper from Murdoch’s news empire.

According to MacVideo the invites say that Rupert Murdoch, the News Corp CEO will join Eddy Cue, Apple’s head of Internet services on stage to discuss the project, announce the official release date and the new subscription details.

The Daily is set to be a subscription only digital newspaper and one that will only be available for Apple’s iPad. According to reports in the New York Times last year, Rupert Murdoch invested not just £30 million into producing the digital paper, but also around 100 of his staff too.

The Daily is also likely to become the first subscription based content on the iTunes App Store, with weekly payments of around 99c due to be taken out of subscribers iTunes accounts.

If the paper is a success, it expected that many more digital newspapers would be released in a subscription format over the coming months, though with the investment that Rupert Murdoch has put into this project, The Daily could well dominate the news scene on the iPad during the foreseeable future.

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