Apple has just announced that the company signed an agreement to acquire the digital magazine subscription service Texture.
Owned by Next Issue Media, a joint venture firm built by six leading publishers -Condé Nast, Hearst, Meredith, News Corp., Rogers Communications, and Time Inc- Texture is a service that provides users full access to the most popular magazines in the world requiring a single monthly fee.
As Apple confirmed, the digital magazine app will continue to work on both iOs and Android after the company’s acquisition.
Eddy Cue, Apple’s senior vice president of Internet Software and Services, said:
We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers. We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.
John Loughlin, CEO of Next Issue Media-Texture, said:
I’m thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple. The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited with this development. We could not imagine a better home or future for the service.
According to the press release, Texture has become the leading multi-title subscription service which gives users the ability to instantly access some of the most widely read magazines while on the go, since its launch in 2010.
The app also was chosen for the annual Best of selections of the App Store editorial team.