NEW YORK - RUPERT Murdoch, among the most ardent defenders of the traditional press, has staked his reputation on a risky bet that for just 14 cents a day he can save the news business with tablet devices like Apple's iPad.

Unlike the News Corp chairman's other newspapers such as the Wall Street Journal or the Times of London, it was not immediately clear who the Daily, News Corp's digital newspaper for the iPad unveiled on Wednesday, is intended to reach.

But that has not stopped the 79-year-old media mogul from investing US$30 million (S$38.2 million) to start to find an answer.

The Daily, a general news product available to iPad users in the United States, will cover everything from national politics to sports to gossip. It will cost 99 cents a week or US$39.99 a year. Apple is expected to take a 30 per cent cut in the first year.

The Daily will also be the first subscription product available through Apple's iTunes store. The first two weeks will be free courtesy of Verizon Communications.

News Corp will later roll out the Daily on other tablets. 'We can and must make the business of news gathering and editing viable again,' Murdoch said in New York. 'We're entering a remarkable age of innovation and digital renaissance.'