Amazon and Plastic Logic are both banking on the idea that creating a larger, Kindle-like electronic device will prove popular as the new way of consuming news. Each company is racing to complete its version of the gadget, which may prove to be the saving grace for newspapers looking for a way to charge for their content. With the devices, publishers conceivably might be able to revert to long-established business model of selling subscriptions and supporting articles with ads.
You can read the New York Times article here.
UPDATE (7/16/10): You can browse the features of Plastic Logic‘s on their website.