With declining print circulation and advertising revenues, newspapers have been eyeing tablet devices - especially the iPad - as an important new revenue stream for the future. The San Jose Mercury News reported today that Apple is working on a new subscription plan for newspapers on the iPad, and will announce the plan "soon."

While the company did not respond to request for comment, Roger Fidler, head of digital publishing at the Donald W. Reynolds Journalism Institute in Columbia, Missouri, told The Mercury News that "Apple probably will take a 30 percent cut of all subscriptions sold through the company's online App Store, and as much as 40 percent of the advertising revenue from publications' apps."

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