Apple to launch Flipboard-style app, do away with Newsstand

Apple is going to do away with Newsstand and introducte a free, Flipboard-style app that will show users samples of content from providers like the New York Times, Hearst, Conde Nast and ESPN, Re/code reports. Partners who complained about Newsstand burying their content will now sell their own apps on the App Store, with Apple taking 30 percent of revenue generated from subscriptions sold though the publisher’s own apps. Publishers will keep 100 percent of the advertising they sell within the new Flipboard-type app, according to unnamed sources. Apple will sell the ad space that publishers can’t, and will take a cut that one publisher called “very favorable.”