Apple is jumping into the magazine business — kind of.
The tech behemoth has acquired Texture, a digital newsstand that gives subscribers access to a few hundred magazines for $9.99 a month.
“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” Apple SVP Eddy Cue said in a statement on Monday. “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
Terms of the deal were not disclosed. Texture launched in 2012 and was owned by several established publishers, including Condé Nast and Hearst. The “Netflix for magazines” app is available on iOS and Android, as well as Amazon Kindle Fire. It’s raised about $90 million to date, according to TechCrunch.
It’s unclear what Apple’s long-term strategy is for Texture, but it could potentially be folded into Apple News. Texture gives subscribers unlimited access to a bevy of well-known magazines, including Vanity Fair, The New Yorker, and Sports Illustrated. Cue’s focus on “quality journalism from trusted sources” comes at a time when other major tech companies like Facebook and Twitter have went through growing pains in their relationship with the news media.
Expect Cue to weigh in on Apple’s latest deal when he talks at South by Southwest on Monday.