News Corp 's Rupert Murdoch unveiled "The Daily" today, a digital newspaper created specially for the iPad that will be sold solely through Apple's online store and cost 99 cents a week.

"New times demand new journalism," the 79-year-old News Corp chairman and chief executive said as he took the wraps off the hotly awaited publication at a press event at the Guggenheim Museum in New York.

Murdoch, who was joined on stage by Eddy Cue, vice president of Internet Services at iPad maker Apple, praised the touchscreen tablet computer as an "incredible new platform" and said The Daily would provide a "fresh new voice."

The Daily would combine the latest technology with "shoe leather reporting, good editing and a sceptical eye," he said.

"The Daily will be the model of how stories are told and consumed in this digital age."

Asked what would make The Daily a success, Murdoch replied "When we sell millions.

"Our ambitions are very big, but our costs are very low," he said, adding that News Corp had spent around USD 30 million on the publication so far and that costs would run about half a million dollars a week.

Murdoch said The Daily would only be available on the iPad for now but would eventually come to other tablet computers.

"We've been quite honest with Apple," he said. "We expect to be on all major tablets. But we believe that this year and maybe next year really belong to Apple."

The Daily will arrive on a subscriber's iPad every morning and can be updated during the day.

"This is not a once-a-day static product," The Daily editor-in-chief Jesse Angelo said. "We can drop in a new page any time."

Murdoch said The Daily is aimed at a "growing segment of the population that is educated and sophisticated but does not read a national paper.

"But they do consume media," he said. "And they expect content tailored to their specific interest available anytime, anywhere."

The Daily will cost 99 cents a week or USD 39.99 a year and will be available for free for the first two weeks. It is available in Apple's App Store and can be purchased with an iTunes account.

The Daily's front page today displayed a colour picture of a demonstrator in Egypt and the headline "Falling Pharaoh."