The Daily editor-in-chief Jesse Angelo has published a rousing staff memo denying our report (and The New York Times‘ report) that News Corp. top brass had identified the iPad tabloid as a money loser to be watched as belts tighten across the company’s publishing units.
After congratulating the staff on its new weekend magazine, Mr. Angelo wrote:
“As for the latest misinformed, untrue rumors of our imminent demise, I would urge you to ignore them. Since before we launched, our dear friends at competing media outlets have done their best to wish us ill and gleefully ‘report’ on what they think is going on here. The truth is we have over 100,000 paying subs who are renewing their subscriptions at a 98% rate and fantastic advertisers who love our brand and keep coming back for more because they get results. Pay attention to them, not the haters.
This is the truth about the modern media business – all outlets, including the ones writing about us, are under pressure to prove themselves as businesses. We are no exception, and to be sure, we will need to continue to evolve, adapt and change in order to compete and be successful. As something new and different, we are an easy target for erroneous wishful thinking. But make no mistake, we will be nimble and we will compete.”
Now The Daily staffers can stop “freaking out.”
