Media Companies Take a Big Gamble on Apple
"Fool's Bargain":
According to The New York Times, "more than 200,000 people subscribed to Apple News Plus in its first 48 hours." Reporter Edmund Lee continued: "Some executives who said yes to the plan seemed less than sanguine, but they declined to comment publicly for fear of upsetting Apple or violating the ironclad nondisclosure agreements the news companies had signed." Vice media reporter David Uberti noted that the current subscription base amounts to "$12 million/year split between 300 publishers."