Apple Has Bought Paid Digital Magazine Service, Texture To Dive Deeper Into The Journalism Business
Apple has acquired a digital magazine company Texture that’s best described as a Netflix for magazines. This means that a fixed subscription fee monthly, you get access to different publications monthly. While the terms of the deal have not yet been made public, reports have it that the iPhone maker intends to pay Texture investors as part of the deal and going by that, it means investors who have put in an estimated $50m will be getting their money back. Apple says the acquisition is an indication that it is committed to quality journalism. Unlike its News aggregation app which publishes news from partner publishers and is available as a free service, the intention here might be beyond just “quality journalism” and could be an investment decision that could see Apple add to a list of applications contributing to its services. You see Apple has been promoting its services such as Apple Pay, Beats products, Apple Music, iCloud, the App Store and iTunes among others. I...