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Apple buys digital magazine subscription service
by Grandybigs |
88642 views – Minutes Read
88642 views – Minutes Read

source: extraimage.infoApple announced Monday it is buying digital magazine subscription service Texture, adding to the side of its business aimed at making money from online content or services.
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source: extraimage.infoThe iPhone maker did not disclose financial terms of the deal to buy Texture from its owners — publishers Conde Nast,Hearst, Meredith, Rogers Media and global investment firm KKR.
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source: extraimage.infoTexture gives subscribers unlimited access to more than 200 magazines, such as Forbes, Esquire, GQ, Wired, People, The Atlantic and National Geographic for a $10 monthly fee.
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source: extraimage.info“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
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source: extraimage.infoThe Texture application launched in 2012, the product of a joint venture created two years earlier.
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source: extraimage.info“We could not imagine a better home or future for the service,” Texture chief executive John Loughlin said.
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source: extraimage.infoDespite Apple’s spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth.
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source: extraimage.infoWhile iPhone sales are at the heart of Apple’s money-making machine,the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices.
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source: extraimage.infoTexture could add digital magazine subscription revenue to that lineup.
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source: extraimage.infoApple reported that it finished last year with cash reserves of $285 billion — much of that stashed overseas.
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source: extraimage.infoThe company said it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year.
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source: extraimage.infoThe repatriation will result in a tax bill of about $38 billion, while also freeing up big chunks of money for investment.
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