Amazon, you should get ready for some heavy competition. The Kindle 2 has just begun shipping and while the device is still in stock, those keen on buying one might want to hold on to their money for a little while longer. It looks like the Hearst Corporation, which publishes Cosmopolitan, Esquire and the San Francisco Chronicle, wants to release its own wireless e-reader. So will we have a Kindle look-alike or are we going to get a totally new device?

Well it looks like Hearst wants something different, in an effort to “preserve the business model that has sustained newspapers and magazines.” Heart’s e-reader should be as big as a standard sheet of paper which will offer both publishers and advertisers enough space to do their thing. The device will come in a monochrome version first but a color version should arrive later. We’ll keep you updated as these device might change for ever the way we read our regular magazines and newspapers.

via CNN