Flipboard plans to add movies and TV to app, and expand to iPhone and iPod Touch

I’ve already mentioned the deals Flipboard has been cutting with magazines to carry their content, but the people behind the iPad social media reading app seem not to be content to rest on their laurels. Flipboard Chairman and CEO Mike McCue has said the company hopes to enter into agreements to carry movies and episodes of TV shows via its platform. McCue plans to get started on this project by the end of the year.

McCue also plans to create an iPhone/iPod Touch version within a few weeks. (I have scant hope it will work on my old 1st-generation Touch, however. Most new applications don’t seem to consider backward compatibility a necessity.) McCue stated that the company could make a profit next year, but will reinvest the money instead in the interest of growth.