Apple Looking To Acquire Digital Magazine Service Texture

Allan Goodman
March 13, 2018

Back in 2013, Rogers announced it would launch Next Issue Canada, a digital magazine subscription service on iPad, starting at $9.99 per month.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", Cue said in a statement. Texture will continue to offer iOS, Android, Amazon Kindle Fire, and Windows 10 apps. Apple had chose to buy magazine subscription startup Texture from its group of publisher owners.

Although Apple didn't detail their plans, the company confirmed that Texture will become integrated with Apple News in the future.

The terms of Apple's acquisition haven't been released, and user numbers for the Texture app aren't publicly known. Private equity firm KKR also invested $50 million in Next Issue Media in 2014.

When asked about persistent rumors Apple is interested in buying Netflix, Cue said the company's history is not to purchase large, existing companies, "but something that will be the next thing", he commented.

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Although the publications in question remain owned by their respective publishing houses, Apple has gained control of an important delivery mechanism.

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers. At the time when Facebook has very publicly moved away from news and media, Apple appears to be moving further into that space. At that point, we should have more information both as to the intentions of the company with the service as well as the future of the application as it now stands.

The Cupertino, California, company aims to top $50bn in annual services revenue by 2021, and a magazine subscription service would likely contribute to that.

Regardless, it's feasible that we may see Apple emerge as a new voice in the battle against misinformation online. "We're not trying to just give you the most popular stuff for you but some of the articles that you should be reading".

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