Apple’s Latest Acquisition is the Digital Magazine Service ‘Texture’

Apple's Latest Acquisition is the Digital Magazine Service 'Texture'
Apple has acquired the popular digital magazine service 'Texture' for an undisclosed amount. Texture offers over 200 magazines and is popularly known as the 'Netflix of magazines.'

Apple has announced the acquisition of a digital magazine service called ‘Texture.’ Owned by Next Issue Media, Texture is popularly known as the ‘Netflix of magazines’ thanks to its wide offering of over 200 magazines. The digital magazine service provides users with instant unlimited access for a monthly subscription fee.

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

John Loughlin, CEO of Next Issue Media said that 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,” he added.

According to TechCrunch, Apple is buying the entirety of Next Issue Media along with its full staff. Neither Apple nor Next Issue Media has disclosed the amount of this deal.

Texture will continue to offer iOS, Android, Amazon Kindle Fire, and Windows 10 apps after the finalization of this acquisition. It is worth noting that the App Store editorial team selected Texture for their annual Best Of selections in 2016.

Source: Apple

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