LOS ANGELES -- Five of the nation's largest publishers of newspapers and magazines are announcing a joint venture to develop a digital newsstand for portable devices that would rival the system Amazon.com Inc. has made for its Kindle reader.
Time Inc., News Corp., Conde Nast, Hearst Corp., and Meredith Corp. are teaming up to create a digital format in color, rather than Kindle's gray "electronic ink." The format would work on a variety of devices, not just one.
The digital versions of magazines such as Time, Cosmopolitan and Better Homes and Gardens will be designed for tablet computers, portable electronic readers and smart phones that render color images. Some manufacturers are developing devices suited to the task that are expected to come to market next year.
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