Rupert Murdoch’s iPad-only news app called “The Daily,” launched this morning at a press conference at the Guggenheim museum in New York.

Executives from News Corp and Apple presented the digital newspaper, which was the first paper to be built specifically for the tablet. The newspaper will be delivered every morning and updated throughout the day as news breaks. The content includes 360-degree photos and HD video. It will include special features such as a sports package with schedules, scores, Twitter feeds and stories based on a user’s favorite team.

The app will compete with all other media on the iPad, including eBooks, video games, and television shows. “We have to assume, we’ll be competing against Angry Birds,” said Jon Miller, chief digital officer at News Corp.

The first two weeks Verizon will sponsor the content for free. After that, a subscription is available for $.99 a week. The paper goes live in the App store at noon ET today.

Apple will announce other publishing partners soon.