The Wall Street Journal reported  Monday that the two companies finally reached an agreement after nearly a year of high-level meetings between Steve Jobs and publishers on the subject. Time Inc.’s People magazine had already offered free iPad editions to print subscribers, but it was the only one to do so. As of Monday, subscribers to Sports Illustrated, Fortune and Time will now also be able to authenticate their existing subscriptions via free iPad apps in order to gain full access to content. It’s a precedent-setting agreement that could pave the way for similar deals with other major publishers.

Apple was likely resistant to the idea for so long because it means subscription revenue will bypass the App Store altogether, and also because when subscribers sign up for the print edition, all personal info (name, address and credit card number) goes directly to the publisher, potentially to the detriment of a similar relationship forming between Apple and the individual. Under Apple’s own new in-app digital subscription terms, after all, it gets 30 percent of all revenue generated and has exclusive access to customer information, unless the subscriber decides to opt in and grant a publisher access, too.

Time Inc. had to give up something in exchange for this deal, and I’m willing to bet that we’ll see what it is come June 30. That’s the last possible day publishers have to include in-app subscriptions for their apps. All magazine and newspaper publishers, at least, who offer subscriptions outside of the app have to also offer subscriptions at the same rate using Apple’s in-app purchasing mechanism by that date. No doubt Time Inc. has agreed to begin offering in-app subscriptions on all its titles by that date in exchange for the print deal. That means that if you’re interested in subscribing, but couldn’t care less about the print edition, you should probably wait a couple of months and you’ll get the same deal as a digital exclusive.

Existing subscribers to Time publications are likely happy about this, but I’m curious: anyone out there who doesn’t currently subscribe to any of these titles tempted to do so now?

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Fortune confirmed the rumor today in an article focused on Verizon CEO Ivan Seidenberg, but used the yet-to-be-released phone, and the impact it could have on Verizon as a company as a lead-in. Apple fans hungry for iPhone network options will want to direct their attention to the end of the first paragraph, where the magazine offers: “Fortune has confirmed that a Verizon iPhone will be released in early 2011.” It doesn’t mention a source or sources.

If there’s someone whispering in the ear of major players like the WSJ, the NYT and now Fortune, which is part of CNNMoney, then you can bet it’s not a rogue source crossing Jobs and risking firing or worse to do so. It’s a calculated leak designed to whet the appetite of American consumers, though when it comes to a Verizon iPhone, people are already famished enough.

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Once a year, Fortune releases its ranking of the top 500 global companies, and in recent years Apple has usually managed to nab a spot. This year, it rose to almost exactly the middle of the field at 253, up from 337 last year. The ratings are based on gross revenue, so it isn’t surprising to find larger PC manufacturers like Hewlett-Packard (32) and Dell (115) ranked significantly higher, despite the fact that Apple enjoys healthier profit margins.

Rankings are based on performance over the course of the last year, so the new list represents results for 2008. Apple first made the cut of the Global 500 list only two years ago for 2006, when they placed near the very bottom, at 492. Considering the short time frame, that’s actually a fairly impressive 2-year gain.

Take into account, though, that collective earnings for the list taken as a whole declined 85 percent this past year, which marks the most significant loss since Fortune began compiling it. Apple, Quanta, and HP were the only computer manufacturers on the list to post gains, with Apple outpacing all with a 38 percent boost in overall profits.

The results show that, if nothing else, Apple has been especially resistant to the effects of a down global economy thus far. Their success with the iPhone 3GS, coupled with the recent popularity of the newly upgraded 13-inch MacBook Pro, suggests that that resilience will continue through the summer and probably into the holiday season, especially if the rumored iMac price cuts come through as predicted.

The Fortune Global 500 is not to be confused with the Fortune 500, which only ranks American companies. When that list was released earlier this year in April, Apple had broken the top 100 for the first time since Steve Jobs’ return to the company in 1994. It reached number 71 on that list.

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