Apple Buys Texture, the Netflix for Magazines

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

The interview comes just moments after Apple announced plans to acquire digital magazine subscription service Texture, so Apple's plans for that app will likely be the highlight of the conversation.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Eddy Cue, Apple's senior vice president of Internet Software & Services, in a statement.

Eddy Cue, Apple's senior vice president of Internet Software and Services, sat down with CNN's Senior Media Reporter Dylan Byers today at SXSW to discuss Apple's TV and News strategy. Ready to experience magazines like never before? All your favorite magazines and articles in one convenient place. Cue says it depends on what trusted publications you follow, but Apple News wants to show you more than what is most popular or what fits your viewpoint.

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Apple has a lot of content coming down the pipeline, but it doesn't sound like the company is interested in a spray-and-pray approach, which seems to be where Netflix's original programming is heading lately. 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. At this point in time, any financial details of the deal have not been disclosed. For now, Texture will continue to operate as is. Apple's long term plans for the service are not yet known.

The Texture app is available for iPad, iPhone, Android devices and Amazon Fire tablets. Cue should know, the exec is in his 30th year with Apple and helped create the iTunes and App Stores.

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