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Mar 12, 2018

Apple is buying the ‘Netflix of magazines’ for an undisclosed amount

Apple is buying a digital magazine subscription service known as the “Netflix of magazines,” which lets readers access over 200 magazines for a monthly fee. The acquisition of the service Texture, owned by Next Issue Media, comes at a time when news publishing as an industry is being shaken up by fake news accusations and Facebook’s changing algorithms in ways that prioritize friend activity over brands.

The bridge between tech companies and journalism continues to narrow with Apple’s latest purchase. Apple already delivers curated news from third-party publishers through its Apple News platform. In a statement, Apple’s SVP of internet software and services, Eddy Cue, said, “We are committed to quality journalism from trusted sources and...

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