12:57 PM, Mar 12, 2018 — Apple (AAPL) is buying digital magazine subscription company Texture and its parent, Next Issue Media, for terms that weren’t disclosed on Monday as the information technology giant touted its commitment to “trusted” news sources.
Next Issue Media is currently held by Vanity Fair and Wired owner Conde Nast; Elle and Good Housekeeping owner Hearst; Meredith (MDP), a Des Moines, Iowa-based media and marketing firm; Toronto-based Rogers Media, a branch of Rogers Communications (RCI); and investment firm KKR (KRR).
Texture was launched in 2010 and has over 200 magazines in its portfolio. Users get “unlimited access to their favorite titles for one monthly subscription fee,” according to a statement from Apple and Next Issue on Monday.
“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users,” said Eddy Cue, Apple’s senior vice president of internet software and services.
On its website, Texture is currently touting a free trial and a $9.99 a month fee after that. The company and its current owners “could not be more pleased or excited with this development,” said John Loughlin, chief executive officer of Next Issue Media/Texture. “We could not imagine a better home or future for the service.”
Companies: Apple Inc.
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