Major media giants to form joint venture for digital future, says WSJ

News Corp, Time Inc., Condé Nast Publications Inc., Hearst Corp., and Meredith Corp. If this Wall Street Journal report is to be believed here, these five major media firms are preparing to announce a new joint venture tomorrow to "prepare print publications for a new generation of electronic readers and other digital devices." Details are a bit sketchy here, and what makes it more interesting / confounding is that many of these companies already have or have showcased separate initiatives, such as Hearst's Skiff and tablet demos from both Time and Condé Nast. We'll be eager to find out if there are any devices the group rallies behind (or even produces itself), but one thing's for sure: good old Rupert Murdoch will have something fun to say on the matter.