Published: Tue, March 13, 2018
Entertaiment | By Lawrence Myers

Apple inks deal to buy the 'Netflix of magazines'

Apple inks deal to buy the 'Netflix of magazines'

Apple has announced that it has signed an agreement to acquire digital magazine subscription service, Texture, at the SXSW media festival in Austin, Texas today.

Meanwhile, Texture was a way for publishers to better transition to the digital age, where modern consumers demand mobile access to content while simultaneously having a lower propensity to pay for individual magazine subscriptions.

For now, the company will continue to operate as usual and will continue to offer its services across all major platforms including Android and Windows 10.

Syria war: Wounded 'to be evacuated from Eastern Ghouta' - rebels
Across eastern Ghouta heavy aerial strikes continued on the towns of Irbeen, Harasta and other residential areas on Monday, state media said.

Apple did not disclose the financial terms of the deal and declined to comment on details of the transaction.

Texture launched back in 2010, and is now owned by Condé Nast, Hearst, Meredith, Rogers Media and KKR. Apple hasn't come forward with what their intentions are with the purchase of Texture, but has since stated that the deal is in order to promote "quality journalism from trusted sources".

Cupertino computing giant Apple will soon be the the owner of a magazine distribution app.

Kathy Griffin Books First US Shows Since Controversial Donald Trump Photo
Griffin had multiple shows canceled and was sacked from her position as a host of CNN's New Year's Eve coverage in the aftermath. Griffin, who said it was "a small, victorious announcement", didn't divulge the dates for her upcoming shows.

John Loughlin, CEO of Next Issue Media / Texture: "I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple". Private equity firm KKR also invested $50 million in Next Issue Media in 2014.

While Eddy Cue skirted around topics like future acquisitions, Apple's investment in AI and AR, and even the iPhone's affect on our spines, he did admit to Apple's less advanced position when it comes to making TV shows. When discussing the first batch of original programming from Apple, it was safe and not particularly well received, to say the least.

In late 2016, the Alliance for Audited Media (AAM) certified Texture to verify its circulation numbers for advertisers. The streaming music company has over 70 million subscribers, almost double the size of Apple Music. The subscription fee is $6.99 per month, which is offered on an on-going sale. Apple being Apple is being quite tight-lipped about its plans here, so we'll just have to wait to see where this goes.

Meghan Markle Wears White For Her First Official Appearance with the Queen
During the event itself, Liam Payne , formerly of One Direction , will be performing. Meghan Markle wore a beret by Stephen Jones to the Commonwealth Day services.

Apple has made a few similar acquisitions in the past.

Like this: