As I sat in the audience at the event, I slowly figured out that it wouldn't provide a ready-made happy ending for magazine publishers. Apple did reveal that the gizmo includes an e-book reader, iBooks—but as the name suggests, that software is meant for books, not periodicals. It also let the New York Times show off a handsome app for reading that paper. But the only magazine that came up during the event was Time—and that was when Jobs showed how good its Web site looked in the iPad's Safari browser. It mostly served as a reminder that it's not entirely clear why many consumers would choose to pay for digital magazines when the same content is available on the Web for free.
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