Benzinga | Jun 24, 2021 01:48AM EDT

Apple Working On A 'Journalism Project' With New York Magazine

Apple Inc (NASDAQ:AAPL) is working with New York Magazine in a journalism project with connections to Apple News, David Hasell, the Editor-in-Chief of New York Magazine revealed in a WWD interview this week.

What Happened: Hasell was asked if Apple News helped the magazine's focus on subscriptions even though it did not help the New York Times Co (NYSE:NYT).

"We're working with Apple right now on a journalism project together and that has unlocked some opportunities for us," said Hasell.

"It seems to be fairly consistent with the larger strategy of thinking about this place as a subscription business, but I don't think Apple News has been a game changer for us."

Apple Shares closed 0.21% lower at $133.70 in the regular session on Wednesday.

Why It Matters: This month, it was reported that the German competition authority has begun an investigation into Apple rival and Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Google's News Showcase platform.

See Also: Apple's Business Model Is To Sell 'Overpriced, Obsolete' Hardware, iPhone Users Are 'Digital Slaves,' Says Telegram Founder

The inquiry's mandate is to ensure there is no discrimination between individual publishers.

Earlier this year, Google threatened to deprive Australians of its search engine if the government went ahead with implementing a law that would have forced it to pay local media for content.

The search engine giant later rolled out its News Showcase Platform in Australia in an effort to bypass the law.

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