This is from kobo's facebook page yesterday - and indicates that newspapers and magazines are NOT available on the original:
"Hey Everybody, I wanted to reiterate where we are with this launch:
Tthe Kobo development team is currently working on bringing the ability to read newspapers and magazines to the first generation of Kobo eReaders. As this is being developed now, please check back on Facebook, for ongoing status updates, as to where we are in terms of progress. Also, if you have not done so already, please opt-in to the Kobo newsletter, as this is a great way to receive updates as well as get great offers and promotions from Kobo! Joshua, I believe our Customer care team is handling your issue personally offline. Any other questions about the tech can be directed to: http://help.kobobooks.com/forums"
So we have to wait.......