Following the launching of Apple News+, Apple affirmed last month it would shut down Texture at the end of May. Apple originally acquired Texture in March of 2018, with it as the basis for what would become Apple News+.
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The article Apple spending $485 million on Texture for News+, report says appeared initially on 9to5Mac.

Nowa new report by the New York Post offers more information on the details of Apple’s Texture acquisition.