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While it might be a "nice to have" option on the Kobo, I think there are a number of other devices that would be a better choice for reading newspapers and magazines. Particularly those with the connectivity to deliver them.
As for me, I got the Kobo to be able to unplug and escape from the news and constant information overflow I get from every other device I own. Everything from our bedisde radio to our new TV is now internet connected and pulling in a news feed of some sort!
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