Virgin to announce rival iPad paper to Murdoch's The Daily

Richard Branson, an aggressive entrepreneur on several fronts, has announced that his company Virgin will unveil a custom-built iPad magazine in New York next week. According to a story in the Guardian, the new paper will be more entertainment and less current affairs than the impending launch of the similar iPad paper The Daily being hustled to market by Rupert Murdoch's News Corporation (in collaboration with Apple). That venture is said to be costing Murdoch $30 million to launch.

"By announcing further details of his iPad magazine in New York, Branson is making an explicit move of his tanks onto Murdoch's lawn," [the story said]

The new, as yet unnamed, magazine is being led by Branson's 29-year-old daughter Holly and is to be edited by Anthony Noguera, former editor of Arena, Zoo and FHM.