News Corp announced an event next week for a subscription-based service for the iPad.

Apple and News Corp will be launching "The Daily" next month, a magazine designed specially for the iPad. A launch invitation was sent out Thursday, received by The Loop and other organizations, which will take place in New York on Wednesday, February 2 at the Guggenheim Museum. 

The event will be led by Eddy Cue, Apple Vice President of Internet Services. Cue has been "responsible for some of the most successful product launches for Apple in recent years," according to The Loop.

The service will launch after a last-minute delay of the original January 19 release date, explains AppleInsider. The blog connects this schedule change with an iTunes subscription feature that Apple is currently developing. In the same article, Rupert Murdoch confirmed that The Daily will cost $.99 per week, which with the new subscription system will automatically bill customers.

This launch event has changed significantly from what CNET sources expected, which would have taken place at the San Francisco MOMA hosted by Steve Jobs. Unfortunately, Jobs took medical leave on January 17, which likely caused the personnel and venue shuffle. Jobs has taken medical leave before, but will remain CEO as chief operating officer Tim Cook assumes Jobs' duties during his absence.

The Daily project is being led by Greg Clayman, who left his post as MTV executive VP of digital distribution and business development to lead digital at News Corp in August December, according to Clayman's LinkedIn profile.

By Ivory King