CUPERTINO (dpa-AFX) - Apple Inc. (AAPL) plans to integrate recently acquired magazine app Texture into Apple News and debut its own premium subscription offering, Bloomberg reported citing people familiar with the matter.
The Cupertino, California company agreed last month to buy Texture, which lets users subscribe to more than 200 magazines for $9.99 a month. Apple cut about 20 Texture staff soon after, the report said.
The company is integrating Texture technology and the remaining employees into its Apple News team, which is building the premium service. An upgraded Apple News app with the subscription offering is expected to launch within the next year, and a slice of the subscription revenue will go to magazine publishers that are part of the program, the report said.
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