CNN buys Zite, an iPad App news magazine company

By on Aug 31, 2011 in Business, Lifestyle, Software, United States Comments

News giant Cable News Network (CNN) recently bought Zite news app, an iPad App news company where users are given a personalized magazine-like reading experience.

CNN and Zite logo
Image Credit: CNN/Zite

As reported by CNN on their official website on Tuesday, August 30, 2011, CNN Worldwide president Jim Walton announced the company’s purchase of Zite, with an undisclosed price.

Zite, which was made available to the public in March, is an iPad app that aims to provide an individually “personalized experience” in reading news, by understanding preferences of its users.

Zite represents the next generation of content discovery and personalized publishing, and CNN wants to help lead in that space.” CNN Digital general manager KC Estenson was quoted on the report.

“We think we can advance the industry in a meaningful way that helps content creators expand their businesses while growing the distribution of a product that people already love.” Estenson added.

“The Zite technology can also help CNN‘s Websites and apps serve more personalized content, making our current digital services even better.” He explained further.

Zite is thrilled about combining forces with CNN to create a world-class news discovery platform. In CNN, we have found a partner who shares our vision and passion.” Zite CEO Mark Johnson reportedly said.

“Being part of the CNN family gives us the capital to grow Zite‘s business and continue to innovate in the space.” Johnson added who will remain in the company and will be reporting to Mr. Estenson.

This free iPad app, with all of its news content coming from outside sources and has currently no ads in it, will still have its founder Ali Davar as Executive Director of Zite, which will be wholly owned subsidiary of CNN.

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