Murdoch online paper folds

Rupert Murdoch called time on News Corporation’s digital newspaper The Daily as he unveiled a revamped team at the top of the media giant’s new publishing arm.

Murdoch said the group “could not find a large enough audience quickly enough” for The Daily, which was launched in early 2011 exclusively on Apple’s iPad.

The move came as the media tycoon unveiled former Times editor Robert Thomson as boss of News Corp’s forthcoming newspaper division and BSkyB chief operating officer Mike Darcey as chief executive of The Sun owner News International.