Hearst plans to unveil e-reader

It's supposed to be like the Kindle, but shaped more like a standard page and more flexible, possibly to the point of bendability. They would sell the e-readers to publishers of newspapers and magaines and take a cut from that, and publishers would then decide how they want to distribute them and how much (if at all) to charge for their product. It's supposed to debut this year.

http://money.cnn.com/2009/02/27/technology/copeland_hearst.fortune/index.htm

Is this a viable solution?

 

I'd be a lot more confident if somebody besides Hearst were behind it.