Apple Unveils Subscription News Service and Pricing

After months of fevered speculation, Apple CEO Tim Cook kicked off the company's "special event" by announcing plans for a new, paid subscription news service called Apple News+ that is launching Monday as part of the existing Apple News application.

"We're bringing magazines to Apple News," Cook said at the event on Monday. "This is going to take Apple News to a whole new level. ... This is really important to us. We believe in the power of journalism and the impact it can have on our lives. We believe Apple News + is going to be great for customers and great for publishers."

Roger Rosner, Apple's vice president of applications, said the new service will cost $9.99 per month and include content from more than 300 magazines, spanning a range of topics. (The first month of use is free and the service can be shared with family for no additional cost.)

"We are super excited about this," he said. "We hope you like it."

Rosner said that The Los Angeles Times and The Wall Street Journal are participating in the new service. He did not mention The Washington Post and The New York Times, which are reportedly sitting out the product. (The Hollywood Reporter is a launch partner for the new, paid service.)

Some publishers have reportedly been concerned by the amount of money Apple will keep from the revenue-sharing partnership. The company did not provide details about the split during Monday's event.

In line with the company's commitment to user privacy, Rosner said that Apple News + readership habits will not be provided to advertisers. "Our goal for Apple News+ was simple : We wanted to create the best magazine reader experience ever for a mobile device," he said.

Apple designer Wyatt Mitchell said, who showed off how the new service will look, said that "Apple News + makes the experience of diving into an issue even more exciting. I can read full magazine issues, no matter where or when."