As to intensify demand for paid content in a new development, New Corporation has joined band wagon with the Time Inc, Hearst, Conde Nast and Meredith to start a paid content venture that would create a front digital storefront for a number of magazines and newspapers.

It is in news that new venture would soon be joined by Time Inc executive vice president John Squires. It is also listened that such venture too was planned by the The New York Times last month. However, official statement by the publishers would be very soon and may be today. The group is reported to be looking at the common goals and rules for digital editions for a concerted effort to make money from online content. The publishers are thought to be strongly considering developing their own e-reading platform to combat Amazon’s Kindle, which takes 70% of revenues and retains most of the reader data. This has angered publishers who want control of the data so they can form closer relationships with their readers.

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