As a compromise for publishers, Apple may offer iPad users the chance to share their information with magazine publishers on an opt-in only basis, according to the Journal. Apple may also add the ability for subscriptions to be delivered automatically to a user's device under the new scheme.

So far, Google and Apple have not officially announced any newsstand plans.

Despite enthusiasm for the tablets as a new distribution mechanism for magazines, it's not clear how popular digital periodicals are. A recent report by the Audit Bureau of Circulations noted that some digital magazine subscriptions have dropped by as much as 40 percent since magazines started offering iPad editions earlier this year, according to .

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