Apple Buys Texture, the Netflix for Magazines

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

With Texture's existing catalog as a starting base, Apple could also be in the market for additional acquisition targets that would serve to beef up a future News-related service before its launch.

Apple Inc. said it is acquiring Texture, a digital magazine service that lets users subscribe to more than 200 magazines for $9.99 a month.

Apple is buying the entirety of Next Issue Media and bringing on its full staff, with the deal expected to close soon, according to TechCrunch.

The company was later rebranded as Texture and it now boasts of more than 200 titles from publishers Condé Nast, Hearst, Meredith and Rogers Media, who are all among the owners.

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Apple made its first big push to integrate magazines and newspapers into its devices with an application called Newsstand in 2011.

Apple's purchase of Texture signals the Cupertino tech giant's expansion of its services segment, which includes Apple Music, iBooks and other services. It replaced that with the more comprehensive Apple News service a couple of years ago.

In 2015, Loughlin and his company, Next Issue Media, raised $90 million, $50 million of which came from the private equity firm KKR after its subscription magazine app was rebranded to Texture. Cue mentioned a new PGA Tour AR golf app for iOS which enables any large table surface to hold a virtual golf course that can be moved around using your iPhone or iPad as a lens.

Apple's Eddy Cue confirms the buy in a statement (via TechCrunch): "We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers". "The Texture team and its current owners could not be more pleased or excited with this development". "We don't try to sell the most smartphones in the world; we don't try to sell the most apps, we try to make the best one".

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