Apple developing news subscription service: report

Apple developing news subscription service: report
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Apple is reportedly planning on launching a news subscription service as a part of its integration of the magazine app Texture, which it recently acquired.

The new service comes as a part of a broader push at Apple to make money from premium services, according to Bloomberg, which first reported on the news service.

The company plans to integrate Texture into the Apple News team which is developing the new premium service. The magazine app gives users access to 200 publications for $9.99 a month.

The subscription offering is expected to be available next year. An unspecified portion of revenues will go back to publishers, sources told Bloomberg. Currently, Apple takes a 15 percent cut of subscription apps in its app store.

Apple had previously let users purchase and organize their individual subscriptions in an app called Newsstand. The new service could operate more like Apple Music, where users pay a flat fee each month to access Apple’s catalog of music.