Rumors that Facebook (s FB) is working on a news-reading product gained more ground Sunday night when the Wall Street Journalreported that Facebook has spent over a year building a mobile app that “displays content from Facebook users and publishers in a new visual format tailored for mobile devices.” The service is internally called Reader, according to unidentified sources.
While the WSJ report is scant on concrete details, it says that the current iteration of Reader resembles Flipboard and is designed for iPhones (s AAPL) and iPads. And the company “has explored different ways to highlight news content to users, including showing public posts that are trending on the site. The idea, the person said, is to create an experience that encourages users to dive deeper into content and spend more time with Facebook” — and to engage with more advertising.
It’s unclear how Facebook’s product would surface content…
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