The joint venture to create a digital content production service and storefront—including Time Inc., Meredith, Hearst, Condé Nast and News Corporation—has been given a name: Next Issue Media. For now, the company has yet to name its product or storefront.

John Squires, formerly Time Inc.'s executive vice president, is heading up the joint venture as interim managing director, which was officially announced early this month. Next Issue Media will be creating a common content format for producing digital magazines and other publications, as well as a storefront to distribute and sell them.

The Next Issue Media name "will be utilized as John and the team he is assembling communicate with publishers, advertisers, hardware manufacturers, software developers and retailers," a spokesperson said.

Beyond the content of the five participating publishers, Squires said a wide range of content producers are welcome to join the service. "We will welcome content providers of all types to offer their paid content via this new digital platform," he told FOLIO:. "In addition to magazines and newspapers, the service will ultimately support books, comic books and blogs."

In the new year, Squires said Next Issue Media will be hosting advertiser and developer "working sessions" to hammer out the details of the services available to content partners.