The NY Observer notes that Hearst is among three big publishers involved in a scheme to create an iTunes-like online store for electronic magazines. These will be works derived from the publishers’ print magazines, but specially redesigned for on-screen reading. The first products would be made for iPhones and Blackberries. Presumably there could later be editions for the rumored Apple tablet device or for netbook computers.

Could an e-mag P-I be far behind?