The article focuses on the state of the art of e-publishing in Italy, the current trends and the possible developments of publishers facing relatively "new" issues for the national market such as content and rights management, significant investments and still dubious revenue. It distinguishes among three major distribution channels: commercial publishers offering directly electronic content; academic publishers; and recently enhanced portals for
distribution and relevant evaluation of electronic content produced in Italy. In the near future, the users of Italian content – be they "common" web surfers, students, teachers
or researchers – are seen as likely to make a move towards thematic portals and subject gateways. The challenge for any publisher is, therefore, to evaluate critically their catalogue and consciously choose the best way to diffuse the content: whether through 'traditional print', or through an electronic format. The publisher can eventually select on a title-bytitle basis and decide whether it is convenient to treat it electronically or on paper, or
both. The track traced by the market feedback seems indeed to identify 'versioning' and e-content – rather than e-book - management as the keywords and key issues now at stake, moving towards the offer of electronic services to fully evaluate the managed content.