Apple buys 'Texture' Magazine Subscription App

Eddy CueKTLA

Moments after Apple announced the deal, Eddy Cue, Apple's senior vice president for internet software and services, said Apple News was introduced with the goal of bringing great content in a attractive layout from trusted sources, and Apple plans to integrate Texture content into Apple News, according to Apple news website 9to5mac.

When asked if the app is cannibalizing existing magazine subscribers, Loughlin said the service is expanding the publishing market, with only about 20 percent of Texture's subscribers dropping print in favor of the digital service. The tech giant does not reveal other information about the acquisition. Apple is acquiring the full company, including employees, and the deal is expected to close very soon.

The Senior VP of Internet Software and Services shrugged off the question: Cue said that Disney and Netflix were "good partners" but that if you look at the "general history of Apple, we never make huge acquisitions". However, Texture is available on Android and iOS platform.

Apple announced on Monday it is buying digital magazine subscription service Texture, adding to the side of its business aimed at making money from online content or services.

The Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in Tokyo June 26, 2014.

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The iPhone maker did not disclose financial terms of the deal to buy Texture from its owners - publishers Conde Nast, Hearst, Meredith, Rogers Media and global investment firm KKR. "We could not imagine a better home or future for the service". Like Apple, Texture is owned by many big publishers such as Nast and Hearst.

Texture, formerly known as Next Issue, was founded in 2009.

This is not the first time that Apple has made an acquisition in magazine publishing.

Previously, Apple had a Newsstand app of its own, but the service never took off, and Apple chose to just terminate the service.

One reason that this is different is that it will essentially bring lots of magazines into a single format rather than offering a marketplace of essentially different magazine and newspaper apps, which seems to have been one of the pain points of the original Newsstand from the perspective of users and publisher developers.

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