Read all about it: The Daily iPad newspaper on sale now

Rupert Murdoch took to the stage at the Guggenheim Museum in New York to officially launch The Daily - the digital iPad newspaper which is a result of a partnership between the Australian's News Corp. and Apple.

Murdoch, who would have surely been joined by Apple's Steve Jobs had it not been for his ill-health, first paid tribute to his missing comrade.

The News Corp. CEO described Jobs as a "leader of technology and media" and said that "his far-sighted efforts over the years, culminating most recently with this brilliant tablet, have given us an incredible new platform". He said Jobs has been a champion of The Daily since "day one".

Murdoch said that The Daily was aimed at the 50 million Americans who will own tablets within the year, but who may not read a newspaper every day.

"There is a growing segment of educated and sophisticated consumers who do not read daily newspapers, but still consume media," he said. "This restricts their interests to what has been predefined.

"Our aim is for The Daily to be the indispensable source for news, information, and entertainment."

The first issue of The Daily was unveiled and, unsurprisingly, its front cover featured news from the protests in Egypt.

It will be available every day, for 99c a week, or you can take a yearly subscription for $39.99 - all courtesy of Apple's in-app subscription platform (which will also hit other digital media publications). There was also talk of a 2-week free trial period courtesy of Verizon.

Our initial verdict? Yep it looks nice, has rich multimedia content, and isn't too expensive at 14 cents per day - but it's hardly revolutionary. There's plenty of magazine style apps already in the App Store doing much the same thing.

News Corp's Jon Miller claimed that The Daily is the "first all media product", but that's stretching it a bit. It's a nice looking app, and with "up to 100 pages per day" it'll certainly keep you busy - but it's hardly a game changer.

The Daily will be landing in the App Store at 5pm UK time.