(Reuters) – Apple Inc
Texture is owned by Next Issue Media, a joint venture formed by Condé Nast, Hearst Magazines, Meredith Corp
Apple did not disclose the financial terms of the deal and declined to comment on details of the transaction.
But a source familiar with the matter said that private equity firm KKR & Co LP
Another source familiar with the matter said Apple had to renegotiate Texture’s content deals because those deals were both with the magazine publishers that owned the startup as well as some publishers with no ownership stake. There was more than one technology suitor for Texture, this person said.
Boutique investment bank Moelis & Co advised Texture.
(Reporting by Sonam Rai in Bengaluru and Liana Baker in New York; Writing by Stephen Nellis in San Francisco; Editing by Leslie Adler)