Updated: Publishers Create Digital Storefront

Five rival publishing companies Dec. 8 finally went public with their plans to develop a digital storefront, but the announcement shows much remains to be worked out.

Condé Nast, Hearst, Meredith, News Corp. and Time Inc. said simply that the five will create an independent venture to develop a storefront and related technology to sell their and other publishers’ content on a variety of digital devices.

The venture’s goals are to create a common reading application, publishing platform for multiple devices, operating systems and screen sizes; a digital storefront; and advertising opportunities.

But there’s no clear road map to achieve those goals.

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