Apple acquires magazine subscription app Texture

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

Apple has acquired Texture, an online magazine subscription service that provides access to over 200 magazines for $9.99/month. It's not clear if Apple will charge users to access these magazines, as Texture now charges $9.99 a month for the service.

Users can read magazines on up to five devices in a single subscription. Texture will continue to offer iOS, Android, Amazon Kindle Fire, and Windows 10 apps.

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.

It's unclear how Apple will integrate the service or what it means for Apple News.

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Apple has purchased other media-focused companies, such as Beats for $3 billion and BookLamp, which was then touted as a "Pandora for books", for as much as $15 million in 2014.

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users", said Apple's Eddy Cue, announcing the acquisition. 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.

Byers asking Cue about the open platform argument that Facebook has struggled with, Cue says for Apple there is a large responsibility for large platform holders; iTunes and Podcasts has been influential in creating rules and guidelines, despite taking heat for that, that helps with media curation, Cue draws the line between open platforms and free speech with examples like bomb making apps, white supremacy speech, etc.

Texture launched back in 2010, and is now owned by Condé Nast, Hearst, Meredith, Rogers Media and KKR. "We don't try to sell the most smartphones in the world; we don't try to sell the most apps, we try to make the best one".

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