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Apple buying digital magazine service

Apple Inc. signed an agreement to acquire digital magazine service Texture for an undisclosed sum.

Texture is a multititle subscription service that provides digital access to various magazines.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from many of the world's leading publishers," Eddy Cue, Apple's senior vice president of Internet Software and Services, said in a March 12 statement.

Next Issue Media LLC, the startup company behind the Texture app, was formed by Condé Nast, Hearst Corp., Meredith Corp., News Corp., Rogers Communications Inc. and Time Inc. as a joint venture.