He didn't say exactly how Texture would be rolled into Apple News. The app is now run by Next Issue Media LLC, owned by a group of publishers and other companies including Hearst Corp.
The "virtual newsstand" gives readers online access to current and back issues of about 200 titles, including Rolling Stone, Vanity Fair, Vogue and Cosmopolitan, for a monthly fee of $9.99 (£7.19).
Users can read magazines on up to five devices in a single subscription. It replaced that with the more comprehensive Apple News service a couple of years ago.
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Apple's purchase of Texture signals the Cupertino tech giant's expansion of its services segment, which includes Apple Music, iBooks and other services. The service has apps for iOS, Android, Amazon Kindle Fire and Windows 8 and 10.
"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Apple executive Eddy Cue in a press release.
Apple is buying the company behind the "Netflix for magazines" idea. Texture, which is owned by many big publishers such as Conde Nast and Hearst, has hundreds of thousands of subscribers, according to its CEO John Loughlin in 2016. When asked about Apple's plans for AR beyond the iPhone, Cue suggested hat his job security depended on not talking about future products - apparently the video service doesn't count - so he wouldn't answer questions about them.
You can download Texture from the App Store for free.