Apple in talks with publishers over digital newsstand

Apple is developing a digital newsstand to allow publishers to sell magazines and newspapers designed for reading on iPads and other Apple devices, according to a report from Bloomberg.

The newsstand would be designed specifically for the iPad and resemble Apple's iBook store for electronic books, but will be separate from Apple's popular App Store. Apple is reportedly still negotiating with publishers including Time Warner, Conde Nast, Hearst and News Corp. over control of user data and how to divide subscription revenue.

Pricing and a timeframe for the store's opening still haven't been worked out, with estimates ranging from within two months to early next year. Apple is hoping to make it easier and cheaper to create digital versions of print publications with additional features such as integrated high-resolution videos.

Time Warner is reportedly not planning to sign on the to newsstand, with other publishers hesitant to accept Apple's terms as they currently stand. No publishing companies have confirmed their participation to date.