News Corp. and Apple have finally scheduled the announcement of The Daily, which is expected to be the long-rumored iPad subscription system for periodicals. The event will take place on Wednesday, February 2 in the Solomon R. Guggenheim Museum in New York City at 11am EST, headed by Rupert Murdoch and Apple VP of Internet Services Eddie Cue.

Apple has been working on a system to bring newspapers and magazine subscriptions to the iPad outside of the normal App Store or iBooks ecosystem. The company was reportedly in talks with News Corp., Hearts Corp., Time Inc., and (Ars parent company) Condé Nast throughout 2010. It's unclear whether any of those companies—besides News Corp., that is—are currently involved in the launch of The Daily, though, so it may end up being limited to News Corp.'s own publications for the time being.

The special event to introduce The Daily was expected to happen in December, then January, but kept being delayed. Now that the event is finally on the calendar, cue up speculation over what The Daily will bring, and whether or not it will be the subscription model we've all been waiting for. Rupert Murdoch has already said that subscriptions will cost $0.99 per week, so what else can we expect?

As usual, Ars will cover the event when it happens, so stay tuned for next Wednesday.