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Apple is planning to launch a subscription based News service that will include access to magazines now offered by Texture, reports Bloomberg.

Bloomberg says Apple is now integrating the technology and employees behind Texture into its own News app and team to develop the service.

Apple's Newsstand and News services offered magazine subscriptions on an individual basis, but the new News service would work more like the Apple Music streaming service.

"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 after Texture's acquisition on March 12. That would involve a premium "News" subscription added to the existing app, similar to how Apple Music's subscription is inside the standard Music app.

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Apple has had limited success with its news services applications. During its last fiscal year, the company generated $30 billion for the division's top line, up 23% for fiscal 2017. During a recent earnings conference call, Apple told analysts it had a total of 240 million paid subscriptions, with 58 percent year-over-year growth. Apple will put the acquisition to good use by integrating it into the Apple News app, as reported by Bloomberg on Tuesday.

Currently, Apple sells subscriptions for iCloud storage and Apple Music.

American tech giant Apple is reportedly planning on launching a new premium subscription feature which will give users the opportunity to access a variety of news outlets in one single app. Apple also gets services revenue from Apple Pay transactions, App Store downloads, iTunes music, movie, and TV show purchases, and digital book downloads. Apple rarely cuts positions, but after the company acquired Beats, it released about 200 people.