Publishers Prep Digital Storefront

Five rival publishing companies went public with their plans to develop a digital storefront, but today’s announcement shows much remains to be worked out.

Conde Nast, Hearst, Meredith, News Corp. and Time Inc. said simply that the five would create an independent venture to develop a storefront and related technology to sell their content — and efforts from other publishers — on various 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 achieving those goals.

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