• The Guardian , Wednesday, August 1, 2012 1:39 PM

Executives at the News Corp-owned title told its 170 employees on Tuesday that 50 of them would be let go. Sources told the Guardian that security staff were brought onto the Daily's editorial floor at News Corp in New York to escort the laid-off employees out of the building. Earlier this month the paper's editor-in-chief Jesse Angelo denied reports that the media giant had put the title "on watch" and was considering closing it. In a statement Tuesday Angelo said the title was dropping its opinion section and would be taking sports coverage from Fox Sports, also part of News Corp, and other partners.

Read the whole story at The Guardian »