Apple announces plans to acquire digital magazine service Texture

Apple Senior Vice President Eddy Cue who runs its media business    
   Asa Mathat

Neither Apple nor Texture is disclosing the exact amount of the deal, or what Apple plans to do with Next Issue Media's talent.

Apple is to buy the digital magazine service Texture, which lets users read titles for a monthly subscription fee. Nonetheless, we will keep you guys updated on the scenario.

A huge fan of basketball who has frequently been seen at Golden State Warriors games, Cue also said that a new sports feature will be coming to the TV app this week for March Madness, and that Apple thinks that it can make the sports experience "so much better" than it now is.

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers.

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At this point, iOS users can download and subscribe to the Texture app in order to access over 200 of the world's most popular magazines.

Eddy Cue, Apple's senior vice president of Internet Software and Services, sat down with CNN's Senior Media Reporter Dylan Byers today at SXSW to discuss Apple's TV and News strategy. Enjoy full issues of People, Time, GQ, Glamour, The New Yorker, Bon Appétit, Newsweek, ESPN, National Geographic, InStyle, Allrecipes, Shape, Men's Health, and many other great titles from the most trusted publishers.

Apple said on Monday it agreed to buy Texture, an online magazine subscription service owned by publishers Condé Nast, Hearst, Meredith, Rogers Media and investment firm KKR.

John Loughlin, CEO of Next Issue Media and Texture, said in a release the company "could not imagine a better home or future for the service". We will update you guys on the acquisition as soon as we hear it. Share your views with us in the comment.

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