Flipboard Buys Zite From CNN, Announces Partnership

From Mashable

Magazine-like media aggregation app Flipboard has purchased personalized news app Zite from CNN.

CNN and Flipboard also agreed to a partnership that will launch a series of digital magazines based around the news channel's shows.

See also: Facebook's Paper vs. Flipboard: Comparing Mobile News Apps

CNN initially reported that the deal was worth as much as $60 million, but a CNN spokesperson later said: “While we’re not sharing the terms of the deal, the reported valuation is inaccurate.” Flipboard declined to comment on the terms of the deal.

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