Apple Acquires Digital Magazine Subscription Service Texture

13 March, 2018, 04:24 | Author: Pamela Mathis
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Apple stock closed at an all-time high on Monday, briefly surpassing an intraday market cap of $925 billion for the first time, reports CNBC. It's about finding the right ones.

Apple did not disclose the financial terms of the deal and declined to comment on details of the transaction.

The paid subscription service - a joint venture by publishing giants including Condé Nast, Time Inc., Meredith and Hearst - gives users online access to more than 200 magazines.

In November a year ago Apple secured the new drama starring Jennifer Aniston and Reese Witherspoon based on Brian Stelter's Top of the Morning: Inside the Cutthroat World of Morning TV.

When asked about Sports TV, Cue said Apple is planning to work with Amazon, CBS, and ESPN.

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He went on to explain that Apple traditionally hasn't made many large acquisitions because, in the words of Wayne Gretzky, "you have to skate to where the puck is going, not to where it is".

It's no secret Apple isn't short on funds.

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Recode has the scoop on Apple's latest acquisition. The company would rather make strategic investments that boost "quality" content and services. That's because Apple wants the next big thing and wants to focus on quality instead of quantity. The move appears to be quite a significant strategic play from Apple. According to 9to5Mac, Cue teased that Apple will have "a technology angle that will be a "surprise" to its service".

"We hope we bring some fantastic, great-quality stuff". He also said that there will be some "surprises" in store for how the programming is viewed once available. Similarly, the company isn't interested in offering its own YouTube-style short videos. We dont really know how to create shows. About 40 people are now on that team. At that point, we should have more information both as to the intentions of the company with the service as well as the future of the application as it now stands. "Great storytelling is what's important".



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