News Corp (NASDAQ:NWS) will spend $30M to launch an iPad (NASDAQ:AAPL)-specific newspaper called...

News Corp (NASDAQ:NWS) will spend $30M to launch an iPad (NASDAQ:AAPL)-specific newspaper called The Daily that will include rich media optimized to run on the device. This is a trailblazing move that lacks a clearly defined audience, but the venture will have deep pockets to absorb its likely losses. News Corp is -0.7% to $15.85.