Apple to buy Texture, the digital magazine subscription service by Next Issue Media
Apple Inc. said Monday it has reached a deal to buy Texture, which is Next Issue Media LLC’s digital magazine subscription service, for an undisclosed amount. Apple’s stock rallied 1.0% in midday trade, putting it on track for a second-straight record close. For $9.99 a month, the Texture app gives subscribers access to over 200 magazines, including “People,” Newsweek” and “Sports Illustrated” and many others. “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, senior vice president of internet software and services at Apple. “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.” Apple’s stock has gained 5.9% over the past three months and climbed 31% over the past 12 months, while the Dow Jones Industrial Average has gained 21% over the past year.
Source : MTV
