According to Ars Technica’s Chris Foresman, Apple’s new plans will wipe out publishers. But some in the media are saying he misinterpreted the news. See here a video report from Newsy:

Embedded Video Source by Newsy.com

Transcript by Newsy

BY JIM FLINK

ANCHOR LAUREN ZIMA

Apple wants to take over the world.  The textbook-publishing world.

According to Ars Technica’s Chris Foresman, Apple this week will announce plans to, in effect, “digitally destroy” textbook publishing as we know it.

“…Apple will announce tools to help create interactive e-books—the ‘GarageBand for e-books,’ so to speak—and expand its current platform to distribute them to iPhone and iPad users.”

Apple has indicated a big announcement this week — with regards to education.

Why all the hubbub?

According to Venture Beat, it’s all about the cash.

“…the education book publishing industry is mammoth, bringing in annual revenue upwards of $5.5 billion for sales of lower education (Kindergarten to 12th grade) and $3.7 billion for sales of scholarly/higher education in 2010 … So it makes perfect sense that Apple would want to enter into an $8 billion industry.”

Besides a treasure trove of cash — this is also a little like opening Pandora’s Box.

Or giving the keys of the city — to the average Joe.

Harvard’s Nieman Journalism Lab notes — this could open the floodgates for new content — not just in textbooks — but for books in general.

“….books have historically been the most constrained form of publishing. Getting a book into print usually convincing an agent, then an editor, then a publishing house that your work was worthy — and that’s before trying to convince the Barnes & Nobles of the world it should have a place on their shelves.”

But CNN Fortune’s Phillip Elmer-Dewitt says, not only is this story overhyped — it’s just plain wrong.

He talked with the same source Ars Technica did digital textbook company Inkling’s CEO Matt McGinnis. Fortune’s writer says — he came away with a completely different take.

“…as near as we can tell, Foresman — and the 18 other reporters who followed his lead — got it wrong. ‘Apple is not trying to kill the incumbents,’ MacInnis told us. ‘They’ve learned their lesson from upending the music industry.’ He told Foresman the same thing, although it doesn’t seem to have registered…”

And the Wall Street Journal notes, rather than trying to slay the publishing dragon — Apple may just be working in concert with McGraw-Hill and Houghton (Huffton) Mifflin.

“The companies have experimented with interactive approaches, such as allowing students to take quizzes as they read and hear audio for foreign-language study, but many digital textbooks have looked a lot like their physical counterparts.”

The Journal notes the announcement will be made Thursday at New York’s Guggenheim museum.

Transcript by Newsy.

(Image source: devicemag.com)

Sources:Ars Technica Venture Beat Fortune The Wall Street Journal