This morning the four big magazine publishing houses--Condé Nast, Hearst, Time Inc, Meredith-- and Rupert Murdoch's News Corp announced their much-talked about joint venture to create digital storefronts for their products and the technology to make them more viable on e-readers, tablets, and mobile devices.

The project doesn't have a name yet, but people are referring to it either as Hulu or iTunes for magazines. As Gawker points out the Hulu reference doesn't quite work...