• by Mark Walsh  @markfwal, December 9, 2009

The long-awaited announcement of a joint venture among major magazine publishers to tackle the transition to digital media looks like a classic vaporware unveiling.

At its heart, the initiative aims to create common standards for how magazines and newspapers are delivered via mobile devices on e-readers, smartphones and other digital devices not yet on the market. It would also include an iTunes-like digital storefront for selling a variety of titles.

While the consortium features an impressive line-up of publishers -- Hearst, Time, Conde Nast, Meredith and News Corp. -- the group includes no prominent technology partners that would suggest their digital aspirations have a chance of becoming a reality. The publishers did release a slick a video on YouTube showing what a future digital version of Sports Illustrated might look like on a tablet-looking device, but product demos are a dime a dozen.

The idea of creating a publishing platform compatible with different devices, operating systems and screen sizes also seems far-fetched when the book business is still battling over a standard format for e-readers. Members of the magazine consortium themselves are already hedging their bets by pursuing separate digital projects, including Hearst's new Skiff e-reader and Condé Nast is working on its own device with Adobe.

Will the alliance collapse if one of the individual ventures proves to be a hit with readers?

While a broad publishing industry coalitions look good on paper, it's how the technology evolves that will end up dictating magazines' digital future. Publishers want to avoid losing control of digital distribution like the music industry. But if Apple next year or later comes out with a color tablet conducive to reading magazines that could make iTunes effectively the digital newsstand of choice.

Many publishers already offer iPhone applications for magazines and newspapers-will those emerge as their primary vehicles of digital expansion? Between the magazine consortium and Apple, I'd bet on Apple.