Apple announced about its venture to acquire Texture, the digital magazine service. It stated that it has already signed a bond for the same. Texture digitally serves articles from about 200 magazines on Windows, Amazon, iOS, and Android devices for a stipulated monthly fee.
Apple has taken into its territory the whole company, including its staff, and has ensured the users that the app’s Android version still would be supported. The cost of the acquisition has not yet been disclosed.
The company Texture was established in the year 2010. It was previously known as Next Issue till it was renamed in the year 2015. It was founded and owned by a major magazine publishers group, but it also yielded 50 million dollars from other investors. The company was launched during the period when the magazine industry fostered some optimism for the iPad and other tablets to turn out as renowned platforms for premium subscriptions as an alternate medium to the Web, which was suppressed by technology companies like Google. As digital magazines such as News Corporation’s The Daily folded, it became transparent that the future was not panning out.
However, a report of the year 2016 quoted that the CEO of Texture John Loughlin said in a statement that their service at that time had encompassed “hundreds of thousands” of subscribers.
Apple had acquired Beats back in the year 2014 that along with the company’s hardware also included its streaming music service that ultimately gave rise to Apple Music. Also in the same year, Apple took over the company BookLamp that offered pretty similar services as Texture.
The company has been selling digital magazine issues and subscriptions via its online services, and Google and Amazon each provide digital newsstands for magazines. Facebook too has tested digital news subscriptions.
There has come no conclusive hint regarding what Apple has decided to do with the service after taking over it. Cue’s selected words in “trusted sources” may prove to be relevant, though, as the acquisition takes place in a period when publishers and journalists have been vocal with the criticism of other technology companies that have played a role in distributing the written word, like Facebook and Google, public, and consumer concern has concentrated in the dispensation of deceitful content on the platforms of those companies.

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