CNN Buys Zite iPad App

As predicted, CNN has confirmed it's buying the Zite iPad newsreader app.

No figure has been given, but it was reported the global TV news network was offering $25-million - not bad going remembering the magazine-style iPad app was only launched six months ago.

Zite offers an iPad application that can build a personalized magazine based on someone's interests and social media feeds. The app can determine users' favorite topics from which articles they choose to read and how they rate each one, similar to the way the Pandora Internet radio station customizes music playlists to listeners' tastes.

CNN plans to operate Zite as an independent business, said KC Estenson, senior vice president and general manager of CNN.com, on Monday. In addition to financing Zite's ongoing development, CNN intends to promote the software on the news organization's website and television programs, Estenson said.

(Source: CNN)

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