Apple has signed an agreement to acquire the digital magazine subscription service Texture , which offers subscribers access to more than 200 magazines with a Netflix-style all-you-can-eat subscription. The iPhone maker announced the acquisition Monday, but didn't disclose a purchase price.
"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 VP Eddy Cue. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users."
Texture started close to a decade ago as an attempt by some of the biggest magazine publishers to find paying audiences online. Its current owners include Condé Nast, Hearst, Meredith, Rogers Media and KKR. Magazines carried on Texture include GQ, National Geographic, Vanity Fair, Wired and The Atlantic.
There is no word on what Apple intends to do with the purchase. It's likely that the app will operate as is at least for the time being, but Apple could eventually integrate magazine subscriptions directly into Apple News.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
