So why has Facebook bought Push Pop Press?The NYT thinks this could signal Facebook entering digital books and argues, as they are currently a large entertainment (gaming etc) platform already, this is a natural step. I agree with this analysis and think this news could be more far reaching than that.
Thoughts:

- there is talk in Silicon Valley of Facebook delivering streaming video/film soon (watch a film with Facebook friends at the same time)

- digital books streaming next natural step for monetising in-Facebook customer experience

- or perhaps they will use PPP to deliver users' updates in a digital book/magazine format (like Zite/Flipboard apps do on iPad)

- or Facebook becomes Face-ebook - lots of active communities to sell e-books against. I know FB not had huge success with e-stores but tiny % of 750m buying is still potentially a game changer.

A few comments from Twitter folks:

@arhomberg @TheFutureBook @samatlounge Unlikely. Its a talent acquisition, not a push into ebooks

@johnquirkbooks:@samatlounge They're saying 'no plans to become a digital publisher'. Hmm. I'd add 'yet' to that. Reckon it's inevitable.

@millsustwo @samatlounge talent acquisition. Nothing more.

@daveaddey @samatlounge @TheFutureBook It's more about buying up good UI designers. I doubt Facebook has pretensions towards becoming a book publisher.

@johnquirkbooks @samatlounge In time, might be Facebook 'store' - been waiting for them to go down that route, taking on amazon maybe...

@activrightbrain @arhomberg @samatlounge @crgc interactive editorialised content works much harder for brands - keeps FB relevant for consumer acquisition

@arhomberg @samatlounge Just wait until Facebook copies Apple app policy and forces Kindle, Kobo et al to sell on Facebook using Facebook credits

@etienneshrdlu @TheFutureBook @samatlounge Maybe they're looking for someone who might be able to ship a Facebook iPad app within the next decade.

The comment on Twitter that I agree with the most: @mikecane Let your imagination wander ... Facebook web OS. Facebook tablet. Facebook phone.

You think it's just FB the site? Noooo.

Push Pop Press co-founders Kimon Tsinteris and Mike Matas blogged as follows: "Now we're taking our publishing technology and everything we've learned and are setting off to help design the world's largest book, Facebook. Although Facebook isn't planning to start publishing digital books, the ideas and technology behind Push Pop Press will be integrated with Facebook, giving people even richer ways to share their stories. With millions of people publishing to Facebook each day, we think it's going to be a great home for Push Pop Press."

An interesting development.