Apple reportedly paid $485 million for Texture
Apple agreed to pay most $500 1 chiliad 1000 to buy digital magazine subscription service Texture, according to a novel study from The New York Post. The acquisition was get-go announced a twelvemonth ago, together with concluding calendar month Apple launched its News+ service largely based on the Texture platform.
The sale cost of $485 1 chiliad 1000 included a $100 1 chiliad 1000 up-front payment to iv publishers who teamed upwards to launch Texture — Condé Nast, Meredith together with Hearst together with Rogers inwards Canada — summation their firm backer, KKR. Going forward, the iv publishers got a minimum of $145 1 chiliad 1000 inwards the get-go year, followed past times a minimum $240 1 chiliad 1000 for the mo together with 3rd years — pushing the payout to at to the lowest degree $485 million, Media Ink has learned.
The standalone Texture service is develop to shut down on May 28, together with customers bring been advised to switch to Apple News+. The novel service offers access to over 300 magazines together with lead newspapers for $9.99 per month. There’s likewise a gratis 1-month case for folks who’d similar to exam it out.
Source: The New York Post
0 Response to "Apple reportedly paid $485 million for Texture"
Post a Comment