Apple Buys Texture, the Netflix for Magazines

Texture is the first known acquisition Apple made in direct contact with publishers and journalism outlets.

Instead, moderator and CNN senior reporter Dylan Byers took Apple’s senior Vice President of Internet Software and Service into a different direction where a wide range of topics were discussed. It’s about finding the right ones.

USA tech giant Apple is buying magazine aggregating service Texture from a consortium of publishers including Rogers, for an undisclosed sum. Financial terms were not disclosed. While the Texture app will likely remain the way it is into the near future, Apple does have a track record of scaling back and then discontinuing acquisitions after they’ve integrated the technology into their own service.

In November previous year Apple secured the new drama starring Jennifer Aniston and Reese Witherspoon based on Brian Stelter’s Top of the Morning: Inside the Cutthroat World of Morning TV.

Additionally, Siri, the Apple personal assistant, suggests channels and topics based on what you’re reading in Safari and on apps, Apple says. “We want that serendipity”. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple.

Still, Apple is reportedly ready to spend as much as $1 billion in 2018 to develop its own movies and TV shows, The Wall Street Journal reported.

It might seem hard to believe, but Apple has enough cash on hand to buy major companies like Disney or Netflix outright. The company would rather make strategic investments that boost “quality” content and services.

Cue said Apple previously didn’t “know anything about making television” and has built a team of around 40 people to focus on content creation and distribution.

After two years of searching, Cue said Apple was able to recruit two television executives – Jamie Erlicht and Zack Van Amburg – to guide the company’s video programming strategy. “There’s a difference though; we’re not after quantity, we’re after quality”, said Cue. “We’ll have a few surprises”, he said. We think there’s a huge opportunity… The company’s subsidiaries may use it to keep you informed of relevant products and services. The team has now expanded to 40 people in the USA and internationally.