Rupert Murdoch to launch iPad newspaper "Daily" February 2

News Corporation CEO Rupert Murdoch waits to testify before the House Immigration, Citizenship, Refugees, Border Security and International Law Subcommittee on Capitol Hill in Washington September 30, 2010.

NEW YORK (Reuters) - News Corp will launch its long-awaited digital newspaper created for Apple's iPad on February 2.

News Corp Chairman Rupert Murdoch -- the owner of The Wall Street Journal and The New York Post -- and Apple vice president of internet services Eddy Cue will introduce the Daily at the Solomon Guggenheim Museum in New York, according to an invitation mailed to reporters on Thursday.

The Daily will cost 99 cents per week, News Corp executive James Murdoch said. The launch was originally scheduled for January 19 but was postponed.

News Corp is a making a big bet that starting a newspaper from scratch that is dedicated to tablet devices could help revive the news business.

The digital-only publication, available initially only in the United States, represents News Corp's latest attempt to get consumers to pay for its online news and support investment in journalism -- a strategy that is being closely watched.

Magazine and newspaper publishers are hoping that tablet devices such will spark consumer interest and revive the business beset by declining circulation and advertising revenue.

Many newspapers are experimenting with models that require some form of payment to access online news as an additional revenue stream to advertising. Newspaper online advertising in the U.S. represents only 11 percent of total newspaper advertising, according to the latest figures from the Newspaper Association of America.

Earlier this week personalized news service Ongo, funded by the New York Times, Washington Post and Gannett Co, launched in an attempt to get readers to pay for online news. The subscription service is accessible through web browsers, smartphones and tablets.

(Reporting by Jennifer Saba; Editing by Phil Berlowitz and Derek Caney)