Publishers balk at Apple's news subscription deal

Apple CEO Tim Cook with hands together
Apple CEO Tim Cook. Photo: Stephanie Keith/Getty Images

Apple is set to debut a news subscription business at a March 25 media event, according to BuzzFeed News. But there's a hitch: A number of key publishers are balking at the terms Apple is offering, per the Wall Street Journal, objecting to Apple's reported take of almost half the revenue and limits on their access to customer data.

The big picture: The news industry is already reeling from the massive shift of ad dollars to the two digital advertising giants, Google and Facebook. Now it looks to publishers as if Apple wants a cut of their subscription cash, too.

Silicon Valley, get ready for your closeup

Illustration of an tablet showing an x-ray of a laptop.
Illustration: Aïda Amer/Axios

A reportedly seven-figure book deal for two New York Times journalists based on an investigation of Facebook's privacy scandals portends a new era of brutal scrutiny for Silicon Valley's giants.

Why it matters: The intense focus on tech companies' troubles comes not just from policymakers and investigative reporters, but also from our culture's storytellers in New York and Hollywood — book publishers, TV producers, and movie directors. And unlike their past infatuations with the tech world, this time they're taking a much tougher view.

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