March 23, 2018

Apple Buys Texture, the Netflix for Magazines

13 March 2018, 04:03 | Max Haynes

Live Blog: Eddy Cue at SXSW 2018

Apple acquires digital newsstand Texture as it doubles down on content 'from trusted sources'

Apple already sells digital magazine issues and subscriptions through its online services, and Amazon and Google each offer digital newsstands for magazines, too.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers". Led by former Sony execs Jamie Erlicht and Zack Van Amburg, Apple has inked deals with Jennifer Aniston, Reese Witherspoon, and "La La Land" director Damien Chazelle. Texture is owned by Next Issue Media, a joint venture between prominent magazine publishers Conde Nast, Hearst, Meredith, News Corp, and Rogers Media. Texture will integrate with Apple News and presumably improve upon the app's curation capabilities.

Apple - which lately has been plowing more aggressively into publishing with its Apple News app - announced the deal on Monday although it didn't disclose terms.

Cupertino is acquiring the makers of Texture, Next Issue Media, and all of its employees will be joining Apple going forward. Private equity firm KKR invested $50m in the company in 2015.

Texture is the "Netflix for magazines", bringing subscribers digital access to more than 200 of the world's top publications.

Third package bomb in nine days rocks Austin
The twin bombings followed an initial blast on March 2, when a 39-year-old man was killed - also after opening a parcel bomb. The police chief refused to provide many details about how the explosives were packaged, citing the ongoing investigation.

Eon to acquire Innogy from RWE in strategic renewables deal
Uwe Tigges, chief executive officer at innogy, said it would be commenting on announcements from RWE and E.On "in due course". RWE is being advised by Bank of America Merrill Lynch and Citi on the deal, E.ON has hired Perella Weinberg Partners and BNP.

Plane from UAE to Turkey crashes in Iran
The post, tagged #minasbachelorette, said it was taken at the luxury hotel, One & Only Royal Mirage, Dubai. Families of the victims arrived Monday in Shahr-e Kord, accompanied by Turkish diplomats, IRNA reported.

Even so, Cue said not to expect Apple to make a purchase of big entertainment rivals like Netflix or Disney.

In late 2016, the Alliance for Audited Media (AAM) certified Texture to verify its circulation numbers for advertisers. Apple News provides iOS users personalized news and information from a variety of news organizations.

The service has evolved to feature curated content based on users interests, but the $10-a-month subscription model has remained in place.

Cue stayed evasive on specific plans for new content or enhancements to Apple TV.

As for Apple getting into the live sports broadcasting business, he said the company wasn't interested like Twitter, Facebook and other broadcasters, and instead was concentrating on creating a better user experience in sports programming.

Other News

Trending Now

Richard Sherman: Chance to Face Seahawks Behind 49ers Switch
While it's unknown exactly the paycut Seattle wanted Sherman to take, it's surely less than $10 million for the 2018 season. Sherman went on to say that he did not mean it as anything disrespectful and the whole situation was kind of forced on him.

Jamie Carragher apologises to 14-year-old girl for spitting at her
In all the years I've watched football, isn't it all about banter?" That devastates me more than anything. The former Liverpool defender sparked fury as a video showed him appearing to spit at a 14-year-old girl.

Oklahoma basketball: Sooner women sneak into NCAA Tourney as a 12 seed
The Syracuse women's basketball team is headed back to the NCAA Tournament as a No. 8 seed. If Oklahoma wins on Friday, it will play the victor of No. 4 Texas A&M and No. 13 Drake.

Benchmark indices surge ahead of release of industrial production data
At 11.06 a.m, the Sensex was trading up 317.57 points or 0.95% at 33,624.71 with 24 components gaining. The share indices traded on a firm note with broad based gains, led by consumption-themed stocks.

Seoul: North Korean 'Caution' Seen in Announcing Stance on Upcoming Summits
The South Korean President has reportedly made his statement while in a weekly meeting with senior secretaries. Well, what are they? An estimated 30,000 defectors now live in South Korea .

Myanmar: UN expert calls for accountability over violence
Meanwhile, Myanmar and Bangladesh have signed a repatriation deal, though it has not begun yet. At least three new such facilities are reportedly under construction.

Manchester's Piccadilly Station Closed As Protesters Storm Tracks
Police have successfully dealt with a large protest outside London Kings Cross station and the station has now been reopened. Meanwhile, many passengers reacted on social media platforms to the protest targeting Manchester Picadilly Station.

Naresh Agarwal joins BJP after SP gives RS ticket to Jaya Bachchan
However, his comments regarding Jaya Bachhan ji are improper and unacceptable", she posted on the micro-blogging site Twitter. However, his new party warned him that they did not like the comment made by him on actress Jaya Bachchan .

Mourinho: Anything is possible if United reach Champions League quarters
The 2-1 victory over arch rivals Liverpool was a Mourinho master class in how to negate the opposition and collect the points. Antony Martial has suffered as well but it is their biggest young talent, Marcus Rashford , who has suffered the most.

Kagiso Rabada faces suspension after 'shoulder brush' incident with Steve Smith
Rabada was the chief destroyer in the Australian first innings with 5-96, including a burst of 5-13 off 18 balls. Amla was twice given out lbw and twice overturned the decision using video review, surviving on 7 and 40.