Apple Acquires Digital Magazine Subscription Service Texture

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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.

The interview is scheduled to start any moment now, so stay tuned for updates!

Mr. Evans rightly noted that the purchase of the so-called Netflix for news, "will be a kind of a drop in the bucket of their cash pile" and said we can expect to "see a lot more M&A activity from Apple" in the near future as it looks to spend the cash pile it is now sitting on. 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.

It'll also offer another revenue boost to Apple's increasingly profitable services division, alongside Apple Music. "We want them to look fantastic and we want them to be from trusted sources".

Cue focused on how the video team, which he said is comprised of about 40 people now, is approaching entrance into the entertainment space.

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When the "Curation in Media" session was going on at SXSW 2018, there wasn't much to talk about in terms of what Eddy Cue could reveal with what's going on at Apple. The app works for Android and iOS devices. We will update you guys on the acquisition as soon as we hear it.

With more than $280 billion in cash on reserve, Apple has been eyed as a potential suitor for Netflix - which is worth about $140 billion.

Pressed on the question of whether Apple needs a major tentpole project to compete with its digital rivals, Cue said the issue isn't the size of the production budget. "There are ways to leverage the technology to make the viewing experience even better".

Last year, the company created its own original programming with "Planet of the Apps", starring Jessica Alba, Gwyneth Paltrow, and entrepreneur Gary Vaynerchuk. "When you think of content, great storytelling is what's important".