News Corp. plans national newspaper for tablet computers and cellphones

News Corp. Chief Executive Rupert Murdoch is embarking on an ambitious plan for a new national digital newspaper to be distributed exclusively as paid content for tablet computers such as Apple Inc.'s iPad and mobile phones. The initiative, which would directly compete with the New York Times, USA Today and other national publications, is the latest attempt by a major media organization to harness sexy new devices to reach readers who increasingly consume their news on the go. The development underscores how the iPad is transforming the reading habits of consumers much like the iPod changed how people listen to music.

"We'll have young people reading newspapers," the 79-year-old Murdoch said during the company's Aug. 4 earnings call. "It's a real game changer in the presentation of news."