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

"We don't know anything about making television". "The issue", he said, is finding the right investments.

The deal may help Apple boost relations with news outlets that have become wary of Facebook Inc. and Google.

Apple has acquired Texture, an online magazine subscription service that provides access to over 200 magazines for $9.99/month. In 2016, Texture was chosen by the App Store editorial team for the annual Best Of selections, which celebrate the most innovative apps and games for iOS users.

But a source familiar with the matter said that private equity firm KKR & Co LP, which invested US$50 million in 2014, generated a "significant return" on the transaction.

- More of what you love. "We want that serendipity". In its last earnings report, Apple reported it has $285 billion cash on hand.

In the past, Apple has made efforts to bring magazines to the digital age with unimpressive results.

Apple is dipping its hand in the journalism industry, announcing Monday its plans to acquire digital magazine distributor Texture. The company intends to make it easier for consumers to find and watch programming on various channels through push notifications sent to mobile devices. "Hopefully the other piece happens", Cue told Byers, saying what Apple always says but no one quite believes. So, rather than throwing enormous resources into snapping up an established player, Cue is hinting that Apple would rather buy something small and build the rest in-house.

"We hope we bring some fantastic, great-quality stuff". "But we don't think white supremacist [speech] is free speech that out to be out there". Planned titles include Steven Spielberg's "Amazing Stories", and a show based on the life of star basketball player Kevin Durant.

TechCrunch pointed us to a series of tweets from writer Alex Heath, who was in attendance when Eddie Cue, the aforementioned SVP of Internet Software and Services, spoke to the crowd.

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