According to Mac Rumors who reports via The San Jose Mercury News, Apple may be gearing up to offer subscription plans for newspapers on it’s new tablet computer, the iPad.

The report claims that if the plans are the true, the Cupertino company may be set to take up to 30% of the subscription revenue and up to 40% in advertising revenue.

Apple is expected to announce soon a new subscription plan for newspapers, which hope tablets like the iPad will eventually provide a new source of profits as media companies struggle with declining print circulation and advertising revenue.

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Apple did not respond to a request for comment

Interestingly, the report also outlines an “opt-in” for subscribers, which would see user and device information passed onto the publishers for advertising means.

Publishers wanted to pay Apple a fee rather than a cut of subscription and advertising revenue, and are not happy with Apple’s terms, he said. They had hoped to offer app editions as part of subscription bundles that include print versions of the paper. Instead, they must use Apple as an intermediary with subscribers.

[The San Jose Mercury News via Mac Rumors]