1 / 2

Netflix of magazines: Apple to buy Texture, provide content at monthly fee

Read more about Netflix of magazines: Apple to buy Texture, provide content at monthly fee on Business Standard. Apple did not disclose the financial terms of the deal and declined to comment on details of the transaction

priya32438
Download Presentation

Netflix of magazines: Apple to buy Texture, provide content at monthly fee

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Netflix of magazines: Apple to buy Texture, provide content at monthly fee Apple will buy the digital service Texture, which gives users access to articles from magazines published by various companies for a monthly subscription fee, the iPhone maker said on Monday. Texture is owned by Next Issue Media, a joint venture formed by Conde Nast, Hearst Magazines, Meredith Corp, News Corp and Rogers Media. Apple did not disclose the financial terms of the deal and declined to comment on details of the transaction. But a source familiar with the matter said that private equity firm KKR & Co LP , which invested $50 million in 2014, generated a "significant return" on the transaction.

  2. ALSO READ: Apple reportedly planning to release cheaper MacBook Air this year Another source familiar with the matter said Apple had to renegotiate Texture's content deals because those deals were both with the magazine publishers that owned the startup as well as some publishers with no ownership stake. There was more than one technology suitor for Texture, this person said. Boutique investment bank Moelis & Co advised Texture. Article By - Business Standard

More Related