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News Corp’s AllThingsD reports that News Corp will discontinue its Daily iPad app publication.

News Corp CEO Rupert Murdoch said of the closure:

Apple’s Eddie Cue shared the stage with News Corp representatives, including Murdoch (Steve Jobs was originally scheduled to attend), when the Daily launched as the iPad’s first dedicated news publication. Rumors of the closure began in July.

. Eddie Cue (left) on stage at the Daily launch with Rupert Murdoch, (center) and Daily CEO

The app was hampered by poor technology that made navigation much slower than lighter magazine apps. It also was hampered by the lack of compelling content that couldn’t be found elsewhere on the web for free.

The Daily App was last updated in September and that version of the app received an average of 3/5-star rating from reviewers. Here’s the launch video:

[youtube=http://www.youtube.com/watch?v=NIO41eDMQ-A]