Entrepreneurs Richard Branson and Rupert Murdoch are to launch rival publications exclusively for Apple's iPad.
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Project is expected to be a magazine covering international culture, business and travel, while The Daily, to be available initially only in the US, is believed to be an iPad-only 'newspaper'.
Media companies see iPad publications as an opportunity for a new type of interactive journalism for which typically affluent tablet PC owners will be willing to pay.
A report by the Pew Research Centre this week found that 9% of higher-income households in the US own a tablet PC, compared with 3% in less-well-off homes.
Pew also found that 80% of wealthier homes already access news online, compared with only 22% reading a print newspaper for national news.
Apple said last month that it had sold 7.5m iPads since launching the device in April.
Murdoch views the iPad as a "game changer" because of projections that there will be 40 milion iPads in circulation by the end of 2011.