The Murdoch-owned company will launch a joint-venture this week alongside Time Warner’s Time Inc, Condé Nast, Hearst and Meredith Corp enabling readers to purchase titles from the publishers in a variety of digital formats, according to reports.
The publishers are working together to sell their titles across a number of platforms such as ereaders and mobiles.
The Financial Times said the group is working on creating a reading application, a “robust” publishing platform, a digital storefront for consumers and a new line-up of “immersive advertising opportunities”, according to people familiar with the plan.
Reports suggested Time Inc executive John Squires will be the interim MD.
The news followed an announcement by US publisher Hearst last week that it will launch an online service next year to deliver magazine and newspaper content to a range of digital devices such as ereaders and smartphones.
This story first appeared on newmediaage.co.uk