Another e-reader from Hearst

Hearst Corp. plans to launch a wireless electronic reader designed for the newspapers and magazines it publishes, according to a report in Fortune magazine.

"Against a backdrop of plummeting ad revenue for newspapers and magazines, and rising costs for paper and delivery, Hearst Corp., is getting set to launch an electronic reader that it hopes can do for periodicals what Amazon's Kindle is doing for books," reports Fortune writer Michael V. Copeland.

The Hearst device – expected to launch later this year – would differ from Amazon's Kindle in that it would be larger and better formatted for reading newspapers and magazines.

It comes down to a bold gamble on Hearst's part: Will offering a new delivery system strengthen reader relationships with Hearst products like Cosmopolitan, Esquire, and the San Francisco Chronicle? Or are we facing a generational shift away from periodicals as we once knew them – regardless of whether they appear on a screen or in paper?

Check in later this year and find out.