The company was later rebranded as Texture and it now boasts of more than 200 titles from publishers Condé Nast, Hearst, Meredith and Rogers Media, who are all among the owners. Details of how much Apple is buying Texture for remain undisclosed. Texture, which gives you unlimited access to different magazines for a single fee, has been billed as something like a Netflix for magazines.
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.
Users can read magazines on up to five devices in a single subscription. Apple's long term plans for the service are not yet known.
While Cue said Apple won't be purchasing Netflix (it could if it wanted: Apple is worth over $910bn and Netflix is $25bn in debt), the tech giant recently hired two executives for its grand TV strategy and now has a team of 40 people both based in the United States and overseas. Cue mentioned a new PGA Tour AR golf app for iOS which enables any large table surface to hold a virtual golf course that can be moved around using your iPhone or iPad as a lens.
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Protests were recently held in front of the National Tax Agency building and in other places to demand Sagawa's resignation. But the Board of Audit of Japan said in November the discount happened because the price was not properly calculated.
Eddy Cue, Apple's senior vice president of Internet Software and Services: "We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers".
"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Apple executive Eddy Cue in a press release. Texture, which is owned by many big publishers such as Conde Nast and Hearst, has hundreds of thousands of subscribers, according to its CEO John Loughlin in 2016. Cupertino is acquiring the makers of Texture, Next Issue Media, and all of its employees will be joining Apple going forward. Cue should know, the exec is in his 30th year with Apple and helped create the iTunes and App Stores.
Texture's Netflix-style model of subscription service feels like a ideal fit for future integration in Apple News.