By AppleInsider Staff

Published: 08:00 PM EST

Google CEO Eric Schmidt denied that a federal investigation prompted his resignation from the Apple Board of directors; and a consortium of magazine publishers hope to create their own store to sell content on devices like Apple's rumored tablet.

Publishers planning for Apple's tablet

Magazine publishers are preparing for devices like Apple's long-rumored tablet as a possible new revenue opportunity, as the print business continues to struggle.

A group led by Time Inc. looks to create a digital store for magazines and other publications to sell their content in a digital format, according to the Financial Times. According to the report, "Apple's forthcoming tablet device" is one of the devices publishers are targeting, along with Amazon's Kindle. The report notes that Time and others have had talks with Apple about putting their magazines on the tablet.

However, the report alleges that Apple is reluctant about the approach the publishers are looking to take. One source with the Cupertino, Calif., company reportedly said the proposals are "their business model," not Apple's.

"The publishers are intent on remaining masters of their own destiny, while Apple does not want to change the percentage it takes from content sellers every time something new comes along," the report said.

The story supports rumors from earlier this week that Apple had contacted print publications, including a meeting with numerous magazines, about its anticipated tablet device. That report said that representatives from The New York Times also spoke with Apple about the tablet, and textbook publishers McGraw Hill and Oberlin Press have been working to put their content on iTunes in a DRMed format that would allow use for a period of time.

Schmidt denies pressure to resign

When Schmidt resigned from the Apple board in August, Apple co-founder Steve Jobs cited Google's further encroachment on Apple's core businesses with Android and Chrome OS. However, both companies were the subject of a Federal Trade Commission investigation for potential antitrust ties.

Despite that investigation, Schmidt said he was not pressured to resign from the Apple Board of Directors, according to Dow Jones Newswires. Schmidt went further and said that Arthur Levinson, who currently serves on the board of both companies, should not resign his position.

Following Schmidt's resignation, the FTC stated it was continuing its investigation due to Levinson's presence on both boards.

Schmidt also denied tension between Google and Apple, saying outright: "We love the iPhone."