PW reports on a site called IndieReader.com that will review self-published works, sell those it likes, and reject those it doesn't. In effect, it will operate as a “publisher” in that it retains the right of rejection, but they don't propose to edit anything. The site will be run by PR person and author named Amy Edelman. It sounds pretty straightforward— they get an annual fee and a 25% cut of sales— except that they expect the author to actually mail out the book. And they charge an extra, non-refundable submission fee. So, except for their stamp of approval, what you get for the fee and percentage is whatever promotion they do for the site in general, and possibly for your book. They don't ask for exclusivity, which is nice, but there is no mention of ebooks that I can see.
Hmmm. I'm still thinking whether this is a good deal for indie authors or not. It will be interesting to see how it plays out.