Magazine-style newsreader Flipboard has acquired fellow newsreader Zite from CNN. Zite had been available for iOS, Android and Windows Phone. Flipboard said that it will integrate Zite's personalization and recommendation technologies. As part of the deal, CNN will provide proprietary content to Flipboard from some of its top reporters including Fareed Zakaria’s GPS Daily, The Lead with Jake Tapper and John King’s Go "Inside Politics".
While terms of the deal were not disclosed, there is speculation that Flipboard paid $60 million for Zite. CNN, though, is denying that this is the actual price of the transaction. As part of the deal, Flipboard will also use photographs and video from CNN. And additional magazines from the news network will launch on Flipboard over the following months.
"Today marks an important milestone for Flipboard and its readers. By bringing the Zite team and technology to Flipboard, we can deliver an even more personalized experience to every Flipboard reader. By partnering with CNN we can provide the world-class news our audience expects and expand our global coverage in a significant way. Together we will continue to pioneer how people read and share the content they care about and give Flipboard readers even more of what they want, all in one place."-Mike McCue, CEO, Flipboard
CNN says it hopes to use Flipboard's expertise to bring in more revenue and expand CNN's mobile audience.