Apple Inc. said it is acquiring Texture, a digital magazine service that lets users subscribe to more than 200 magazines for $9.99 a month.
Texture, offered via the app stores of Apple, Google and Amazon.com Inc., bolsters Apple’s efforts in online services and media. The Cupertino, California, company aims to top US$50 billion in annual services revenue by 2021, and a magazine subscription service would likely contribute to that.
The deal may help Apple boost relations with news outlets that have become wary of Facebook Inc. and Google. Some publishers reported losing online traffic from Facebook after the social media network recently refocused on content from friends and family.