Mar 12, 2018

Apple acquires digital magazine platform Texture

Apple is buying the magazine app subscription service Texture for an undisclosed amount. It is currently owned by Next Issue Media, which is backed by magazine publishers Conde Nast, Hearst, Meredith, News Corp, Rogers Communications, and Time Inc. Apple said it was "Committed to quality journalism from trusted sources". One media analyst said the move to acquire Texture was Apple's way of trying to appease content publishers, who were upset by the launch of its News app in 2015. "A lot of this is talking the talk. If they really wanted to help journalists, they could give publishers a waiver on the 30% tax Apple takes from App Store revenue," Enders Analysis's Joseph Evans told the BBC. "That wouldn't cost Apple anything, and it would be a big help to publishers." Apple already runs a music-streaming subscription service and has been commissioning new television content, leading to speculation that it might launch a rival to Netflix.

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