Apple is buying the 'Netflix of magazines' for an undisclosed amount

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Apple has purchased Texture, a subscription service that lets users consume all or part of more than 200 magazines.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", Cue said in a statement.

Texture will continue to operate on Android, Kindle Fire and Windows 10, according to Apple, which has paid an undisclosed amount for the company.

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With addressing fake news a major focus for tech companies and Apple's commitment to rapidly growing its services revenue, this deal could have a lot of potential.

Texture launched back in 2010, and is now owned by Condé Nast, Hearst, Meredith, Rogers Media and KKR.

Of course, while the owners of Texture will be delighted with their payday, but Apple purchasing single app does not mean they have saved the under pressure media industry.

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Although Apple didn't detail their plans, the company confirmed that Texture will become integrated with Apple News in the future.

Considering Apple's emphasis on services and subscriptions, there could be more deals like this in the future. In a bid to add more credibility to trusted sources, Apple announced that they are buying Texture, a digital newsstand company.

Texture has not recently revealed the number of subscribers it has.

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Apple Inc.is buying the Texture digital magazine service created by a group of publishers that includes Rogers Media. When discussing the first batch of original programming from Apple, it was safe and not particularly well received, to say the least. The streaming music company has over 70 million subscribers, almost double the size of Apple Music. While Facebook and YouTube rely nearly exclusively on software tools to decide what news people will see - Facebook fired its news curators in 2016 - Apple has a human editorial team for Apple News, the company's news aggregator app that comes pre-installed in its phones. We will update you guys on the acquisition as soon as we hear it.

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