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News Corp shelves digital newsstand project

Media conglomerate still believes 'Project Alesia' still has "tremendous potential" as an idea.

News Corp has shelved the plan to create a digital newsstand after it failed to attract enough number of publishers to participate, sources said on Thursday.

Known as 'Project Alesia,' the project aimed to create a single online destination for selling access to news from a variety of publishers for users of tablet devices such as the Apple iPad.

The initiative was designed to help the publishing industry generate subscription revenue from the web.

The other publications seem instead to be focused on building their own mobile, internet and iPad models and deals, rather than aggregating to form a content-driven platform, The Hollywood Reporter said, quoting sources.

News Corp executives working on the project in New York will be reassigned, the source added.

The media conglomerate, which conceived the project and is still reportedly believes the idea has "tremendous potential" has recently invested in several online ventures. It acquired Journalism Online, a company that helps publishers charge for online access and e-reader company Skiff in June this year.