It's deja vu all over again ... Anyone else remember the CueCat, back in the heady days of 1999?
http://www.joelonsoftware.com/articles/fog0000000037.html
(I think people with wireless internet connections at home and an iOS/Android device to select stories on are going to read the news on their tablet or smartphone, not some hunk of dead tree. And the stink of flawed business models with high startup costs that nevertheless manage to get enough funding to start shipping hardware is familiar from the last time round on this merry-go-round ...)