Time Inc.: Time for a New E-Reader

From NBC Bay Area -

An internal document from Time Inc. shows the publishing giant wants to start competing with Amazon's Kindle and other electronic readers before the end of the year. It's a big shift in strategy since which earlier this year Time said it would not introduce its own e-reader. But now according to the in-house presentation, Time Inc. is seeking to unveil its plans within the next three months.

The presentation, titled "New Platforms & Business Models for Publishers," is dated June 25, 2009, includes handwritten notes updating the presentation, which circulated as recently as August. It concludes that Time Inc. and other partners should form a new, jointly owned company. The company is also considering acquiring other businesses to jumpstart the venture.