Publishing house Hearst on Wednesday officially confirmed that it has signed up with Apple, a move that will make a handful of its magazines available on the Apple iPad platform.
With this new deal, Hearst has become the first major publishing house to make its magazines available for subscription as iPad apps. The terms of the deal were not disclosed by either company.
According to reports, the first three magazines to be covered by this deal are Popular Mechanics, Esquire and O, The Oprah Magazine.
The magazines will be available for iPad users from July onwards and fans can subscribe to each of them with a $1.99 monthly subscription fee ($19.99 annually).
"It's an equitable and fair deal for both sides," said Hearst Magazines vice president of public relations Jessica Kleiman, PCMag reports.
"There was a lot of back and forth and we feel it's a fair agreement in terms of sharing the data and owning the customers together," she added.
Kleiman also said that it was the increasingly growing demand from the subscribers of these magazines that forced Hearst to take this step.
“The feedback we heard from consumers over and over was that they wanted to be able to subscribe on the iPad. So we do feel like it's an important part of the mix."