Apple Buys The ‘Netflix For Magazines’

Apple Buys The ‘Netflix For Magazines’
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Tech giant Apple has signed an agreement to acquire a digital magazine subscription service which gives users unlimited access to their favourite titles for a monthly fee.

Texture, which launched in 2010 and is operated by Next Issue Media (which is owned by a group of publishers including News Corp), is dubbed as the ‘Netflix for magazines’, offering users over 200 different titles to peruse for $US9.99 per month.

Eddy Cue, senior vice president of internet software and services at Apple, said: “We’re excited Texture will join Apple, along with an impressive catalogue of magazines from many of the world’s leading publishers.

“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”

John Loughlin, CEO of Next Issue Media and Texture, said: “I’m thrilled that Next Issue Media and its award-winning Texture app are being acquired by Apple.

“The Texture team and its current owners – Condé Nast, Hearst, Meredith, Rogers Media and KKR – could not be more pleased or excited with this development. We could not imagine a better home or future for the service.”

 

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