According to the Wall Street Journal, Mark Zuckerberg's team will be targetting mobile and tablet users with a reader app that will ape the visually-rich Flipboard news aggregating application.
Zuckerberg is said to be working directly on the application himself, with the new Facebook service going by the unimaginative "Reader" name.
Most interestingly, Facebook have been said to have been working on the service for well over a year, long before Google announced they would be calling time on their own RSS service.
With Facebook recently adding searchable hashtags to the social network, it seems the company are keen to jump on the trending news wagon. And with so many RSS users set to be searching for a Google Reader alternative in the next few days, the social network will be well placed to attract them.