Steve Jobs and Rubert Murdoch create iNewspaper. Will cost 99 cents a week.

According to the US elite fashion industry journal Women’s Wear Daily, the Murdoch-Jobs “newspaper” will be run from the 26th floor of the News Corp offices in New York, where 100 journalist have been hired, including Pete Picton, an online editor from the Sun, as one of three managing editors. The editor of the Daily has not been announced, but observers are assuming it will be Jesse Angelo, the managing editor of the New York Post and rising star in the News Corp firmament.

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