Now, here’s a weird one considering Apple’s track record. They have purchased Texture, an online magazine subscription service owned by publishers Condé Nast, Hearst, Meredith, Rogers Media and investment firm KKR.
There is no amount for which the service was bought. However, the acquisition is a means for Apple to use subscription-based services. Considering the company competes with the likes of Amazon, Facebook and Google. It’s not a very crazy business decision.
“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services.
“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
So, for those who are unaware, Texture has been the leading multi-title subscription service since its launch in 2010. They have been giving users the ability to instantly access some of the most widely read magazines while on the go.
Apple has been keeping this service on their sights since 2016, actually. Considering that Texture was chosen by the App Store editorial team for the annual “Best Of” selections. A section where the most innovative apps and games for iOS are celebrated.
“I’m thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple,” said John Loughlin, CEO of Next Issue Media / Texture. “The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited with this development. We could not imagine a better home or future for the service.”
It seems like we’re going to keep getting more and more news regarding Apple quite soon. For now though, we can only hope that this acquisition leaves nothing but the expected outcome for Apple.
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