Is this what Peter Ha is working on? Owen Thomas wrote a piece about Time Inc. wanting a specialized e-reader a la the Kindle, thereby allowing them to eschew paper magazines entirely.

The presentation concludes that Time Inc. and other partners should form a new, jointly owned company. Time Inc. might spin out its Maghound service, a service which lets consumers bundle multiple magazines together into a single monthly subscription, to form the base of the joint venture. The company is also considering acquiring other businesses to jumpstart the venture.

Clearly a Time Inc.-centric device would be a a bad idea™ simply because it would end up unused and CueCat-like on the shelf. However, if all the magazine publishers got together on this I would totally be down. But then they’d just use Kindle.