Perfect timing for the iTablet launch...
Magazine publishing giants Time Inc, Conde Nast and Hearst are set to team up for an iTunes-esque digital magazine store, to distribute e-mags to devices including iPhone, BlackBerry and other handheld gadgets.
That's according to the New York Observer, which says Time EVP John Squires will be the interim CEO of the new joint venture for the next six months, while a permanent boss is sought.
"Basically, this was his deal from the get-go," a source tells the newspaper. "He had this idea. These guys are all big competitors and now they’re laying down their arms to try figure this whole new world out together."
The launch of the store could tie in with the long-rumoured launch of Apple's tablet device. Magazine publishers already have it in their sights - last week Conde Nast showed off a demo of a tabletised edition of Wired magazine.
The publisher has also released the latest issue of GQ as an iPhone application.
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