“Facebook, which has never shied away from copying its rivals’ features, is now working on a mobile service that would display news content in a visually appealing, magazine style, similar to what startup Flipboard already does,” Salvador Rodriguez reports for The Los Angels Times.

The Wall Street Journal is reporting that Facebook is developing what it calls ‘Reader’ for smartphones and tablets,” Rodriguez reports. “Reader would give users another way to see the news their friends are posting and it would give Facebook another avenue to display ads.”

Rodriguez reports, “The report says that Reader, which Facebook has been working on for more than a year, according to unnamed sources, would resemble Flipboard, a service with more than 50 million users. Flipboard is an app released three years ago that creates magazines for tablet and smartphone users based on the content their friends share on Twitter and Facebook.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “David G.” for the heads up.]