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Five Top Publishers Plan Rival to Kindle Format 123

eldavojohn writes "Time Inc., News Corp., Conde Nast, Hearst Corp., and Meredith Corp. are teaming up to create a digital newsstand and somewhat open format that 'can render our content beautifully on those devices that come to market' instead of the gray inked Kindle's energy conscious display. Devices are being made for the new format with the launch coming next year. The format will also target smart phones and tablet computers. Will this pose a threat at all to the Kindle?"

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