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magazinesSeveral major magazine and newspaper publishers announced today that they are collaborating on a joint venture that would offer digital magazine content to consumers on a variety of devices, confirming reports of the venture earlier this month. Time Inc.’s John Squires will be interim general manager at the new as-yet-unnamed company.

The consortium of publishers includes many of the biggest names in traditional media: Time Inc., Condé Nast, Hearst, News Corp., and Meredith. Though early reports focused on magazine content, Squires says the group will eventually offer newspapers and books as well. It will focus on developing open standards for publishing digital content on laptops, smart phones, e-readers, and other portable devices.

The press release says the group has four main goals:

  • A highly featured common reading application capable of rendering the distinctive look and feel of each publication
  • A robust publishing platform optimized for multiple devices, operating systems and screen sizes
  • A consumer storefront offering an extensive selection of reading options
  • A rich array of innovative advertising opportunities

Media companies also hope to consolidate competing formats and offerings into one consistent standard, Squires tells AllThingsD.

[photo:flickr/bravenewtraveler]