Following reports that News Corp. was putting The Daily "on watch" for its big losses, Jesse Angelo, the iPad newspaper's editor, has lashed out against the rumors and the media organizations making them. In a letter to his staff Friday, which was posted on The Daily's website, 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.
(We applaud Angelo for refraining from one single "rumors of our demise..." reference.)
The New York Observer's Kat Stoeffel first reported the publication's supposed status Wednesday, and on Friday The New York Times's Amy Chozick followed up, citing unnamed sources who "confirmed that The Daily was on probation and at a crossroads while the company reconsidered whether it could turn around losses that were estimated at roughly $30 million a year." Angelo didn't mention those losses except obliquely. Today's statement continued:
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.
This is the same comforting "they're just jealous" excuse our parents gave us all the time, and perhaps The Daily isn't in fact on probation, but we'd bet that with the rumors being reported in multiple outlets, plus confirmed changes like the much ballyhooed News Corp. split coming up, Daily employees are keeping their résumés updated anyway, just in case. Then again, The Daily also just announced a new weekend edition to be called WKND, "is filled with food porn, celebrity playlists, photos and travel tips to exotic locales, plus everyone’s favorite DIY projects," which Angelo referred to in his letter, which he ended with, "Have a great, uh, WKND."
This article is from the archive of our partner The Wire.
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