News Corporation Launches “The Daily”

Articles in today's New York Times and on Mashable.com discuss the launch of "The Daily," the first digital newspaper designed for the ipad. This digital publication will cost you $.99 a week, or $40 a year. On top of your $400+ iPad device. The newspaper applies the sensibility of USA Today to the digital age "by trying to enliven the printed word with photographs, video and interactive features that work seamlessly together."

As I read up on this news platform (at no cost to myself or Planit), I was wondering whether or not this really has the potential to transform how we consume news. I spend at least an hour each day reading the latest headlines from established news resources, about world news, US business updates, consumer trends and the latest news about my clients, all for free.

My main question is, can "The Daily" match up to the reputation of news sources that have been in business for more than 100 years?  And more importantly, will consumers want to pay for this news?