Apple is buying the “Netflix of magazines” for an undisclosed amount

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Apple is buying a subscription service to a digital magazine known as "Netflix of magazines," which allows readers to access more than 200 magazines for a monthly fee. The acquisition of the Texture service, property of Next Issue Media, comes at a time when the publication of news as an industry is being shaken by false accusations of news and the changing algorithms of Facebook in a way that prioritize the activity of friends over brands. .
The bridge between technology companies and journalism continues to shrink with Apple's latest purchase. Apple already offers curated news from third-party publishers through its Apple News platform. In a statement, Apple's senior vice president of software and internet services, Eddy Cue, said: "We are committed to quality journalism from reliable sources and allowing magazines to continue to produce compelling and beautifully designed stories for users."
It could also be an effort on the part of Apple to match competitors such as Google, which offers news through the Play Store, and Amazon, which has its own subscription reading services.
Apple is buying all of Next Issue Media and having all its staff, and the agreement is expected to close soon, according to TechCrunch. Texture will continue to offer iOS, Android, Amazon Kindle Fire and Windows 10 applications. The details of how much Apple is buying Texture to remain undisclosed.
Apple previously chose the Texture application as one of its most innovative iOS apps in 2016. Texture is owned by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications and Time Inc, which founded the application and Next Issue Media as an effort to monetize digital media. The texture costs $ 9.99 a month and offers access to magazines such as The New Yorker, People, Time and GQ.

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