Apple CEO Steve Jobs tried to convince the print media industry himself to adopt the iPad and offer digital content for the company’s tablet. However, after closely scrutinizing the deal, many publishing executives have come away unimpressed. They have two fundamental problems with the business model.

Majority of the print media industry has relied on intimate consumer data to target stories and marketing to their subscribers. Apple is unwilling to share that with these companies, and instead having users go through its iTunes Store for purchases. Besides sales volume, publishers will have no other access to information, making it difficult for them to market complimentary products and services, or even stories, to their readers.

Secondly, they believe Apple’s 30% cut of the overall revenue is too high, and that it will encourage a single sale model as opposed to ongoing subscriptions. This will be similar to what the music industry faced when Apple basically conditioned users to purchase single songs over full, high marginalized albums.

All of this is making media companies uncomfortable, and they are resistant to this aggressive change. Reports are conflicting. Some suggest the publishers are highly opposed to it and may breakaway from talks, while others suggest the talks are ongoing. As the launch date nears for the iPad, we’ll soon find out how concerned publishers really are, or if they can make Apple bend backwards for them.