Four major magazine publishers and News Corp. are set to unveil a joint venture which will bring magazines into the digital age, according to the WSJ.
The new company is expected to be announced Tuesday and will be jointly owned by News Corp., Time Warner Inc.'s Time Inc., Condé Nast Publications Inc., Hearst Corp. and Meredith Corp.
The company will aim to create a common set of technology standards for how magazines look and operate on digital devices. Participants are also keen to establish a common standard for advertising and digital sales.
In forming this partnership, the magazine publishers are looking to prevent Apple or some other company from redefining their industry. This may be more difficult then they expect. Apple maintains a stranglehold on every aspect of their devices (ie iPhone, iPod). If Apple releases a revolutionary tablet they will most certainly dictate the technical standards for its use and content.
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The new company is expected to be announced Tuesday and will be jointly owned by News Corp., Time Warner Inc.'s Time Inc., Condé Nast Publications Inc., Hearst Corp. and Meredith Corp.
The company will aim to create a common set of technology standards for how magazines look and operate on digital devices. Participants are also keen to establish a common standard for advertising and digital sales.
In forming this partnership, the magazine publishers are looking to prevent Apple or some other company from redefining their industry. This may be more difficult then they expect. Apple maintains a stranglehold on every aspect of their devices (ie iPhone, iPod). If Apple releases a revolutionary tablet they will most certainly dictate the technical standards for its use and content.
Read More