The New-York based publisher’s digital news stand, technology platform, and upcoming reader device, which we wrote about previously, is being considered for use by a consortium of four publishers, including Time Inc, Condé Nast, Hearst, and Meredith.
However, the group is jointly funding a venture, to be headed on an interim basis by John Squires of Time Inc’s digital strategy, which is being charged with “creating a reading application, a ‘robust’ publishing platform, a digital storefront for consumers and a new line-up of ‘immersive advertising opportunities'”, according to The Financial Times.
The partners are expected to contribute an undisclosed amount of funding to create the venture.