“Amazon.com Inc. expressed interest in buying Texture before Apple Inc. acquired the digital magazine service, according to a person familiar with the matter,” Alex Barinka reports for Bloomberg. “Next Issue Media LLC, owner of Texture, hired investment bank Moelis & Co. in the past year to advise on a sale process, said the person, who asked not to be identified because the matter is private.”
“Apple said on Monday it agreed to buy the firm, without disclosing the price. The transaction included an upfront payment, as well as significant licensing fees to publishers, the person also said,” Barinka reports. “Texture, offered via the app stores of Apple, Google and Amazon, lets users subscribe to more than 200 magazines for $9.99 a month. The service bolsters Apple’s efforts in online services and media. ”
Barinka reports, “For Amazon, it would have fit well with a customer base already trained to pay for physical products and some digital content.”
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MacDailyNews Take: We’re excited to see what Apple does with the service.
Apple pushes deeper into news – March 13, 2018
Apple to acquire Next Issue Media and its digital magazine-subscription service Texture – March 12, 2018