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Can't speak to the ability to convert your existing ebooks to either device, but I can say that there is a huge free, or reasonably priced ebook world out there for the Kindle. Additionally, if you have a public library card many libraries offer mobipocket format ebooks checkout that can be used with the Kindle thanks to Igorsky's Kindlefix tools. Of course, Kindle also gives you the option of subscribing to a number of newspapers and magazines that automatically get downloaded onto your Kindle.
Cheers
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