From the press release:
Quote:
Fictionwise plans to maintain ereader.com as an independent web site to capitalize on the strong brand and loyal customer base achieved by the site. However, Fictionwise plans to build on the success of the eReader eBook format by expanding the product to function on an even wider range of handheld devices, allowing customers the flexibility to read on whatever devices best meet their needs.
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It sounds like they do plan to keep the eReader format, and possibly expand it onto other platforms (Ebookwise, maybe?).