Apple is acquiring the Netflix of magazines

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  • Apple has purchases Texture, a subscription service that provides 200 magazines to users for $9.99 a month, known as the “Netflix of magazine publishing".

    “We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” said Eddy Cue, Apple’s senior vice president of Internet Software & Services, in a statement. “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”

    The company will continue to operate as normal, in that it will continue to be offered for iOS, Android, Amazon Kindle Fire, and Windows 8 and 10. 

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

    Apple have not disclosed the financial terms of the deal. 

    It is not clear how many users Textures has, in an article with the Wall Street Journal in 2014 it was estimated they had 150,000, and in 2016 the New York Post noted it was in the “several hundreds of thousands”.

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