Virgin's Magazine Announces Their iPad App Too!

Richard Branson has made the announcement that Virgin will release its own specially made iPad magazine in New York this coming week. The project first began in July, when it was called Maverick and now Branson plans to bill this new paperless "revolutionary multimedia" publication of the magazine, individually designed exclusively for the iPad only.

This iPad venture has cost Murdoch’s company round about $30 million, which included the management of about 100 journalists in staff. In business terms, company predicts that sales will be expected to aprrox. 13 million this year and maybe 20 million in 2011, hence the company has a sharp eye and expectation to collect all their invested money back from this venture of digital information. This calculation is so rough because of the fact that publications designed for the iPad have this huge financial benefit of not having printing cost at all or any other overheads associated with traditional newspapers for that matter.

Virgin's hopes to keep their project more about entertainment and will keep rather less focus on the current affairs. Speaking more precisely, they hope to keep their spotlight mostly on entertainment, design, business, travel and international culture section.