News has been circulating for weeks that leading magazine publishers would be banding together to form a “digital storefront” or what many in the media are calling an “iTunes for magazines.”

CooperKatz is supporting the effort, handling media relations today on behalf of publishers including Cond Nasté, Hearst, Meredith, News Corporation and Time Inc. FishbowlNY reports the new venture will be lead by Time Inc. digital chief John Squires and wonders why a name for the venture has not yet been announced.

A CooperKatz rep told PRNewser the consortium hired the agency for project work but with a possible extension. CooperKatz’s other media clients include Topix, Ziff Davis Media and the Association of National Advertisers.