NEW YORK ( TheStreet) -- Media giant News Corp. ( NWSA) will be the first of its kind to charge for the online versions of its consumer papers. News Corp. will start charging readers for The Times of London online and The Sunday Times of London online beginning in June, reports says. Each online paper will soon cost $1.49 a day to read, though readers who buy their print versions get free online access, according to Reuters. The company already charges for access to the Wall Street Journal online. The Financial Times online also follows a subscription-based model. So far, consumer publications haven't pursued this business model over concerns about a substantial drop in readership; the New York Times ( NYT) stated earlier in the year that it would begin following a subscription-based model beginning in 2011. News Corp. has been at the helm of the drive towards subscription-based online news content, as many newspaper companies continue to struggle with falling advertising revenue and economic uncertainties. -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.