Apple has bought its way into the magazine business and no one is sure why

Print media–newspapers, magazines and so on–has been in big trouble for years but Apple seems to think it has it all figured out.

While print magazines have had mixed success moving from being printed on dead trees to digital distribution, one of the more interesting attempts has been Texture, a “Netflix of magazines” platform that’s like carrying around a whole newsstand on your tablet. Subscribers can choose from hundreds of digital versions of big titles, ranging from Hello and Vanity Fair to Wired and Forbes.

If you’re a magazine fan, it’s a pretty solid deal. Pay one price, get access to a ton of publications.

So what does Apple want with a magazine platform? Not sure. The journalism? The deep catalogue of content? The brand name titles? Something to bolster its Newsstand app or iBooks?

According to Engadget, investors and publishers happy with the deal. More information is supposed to be released by Apple during SXSW.