CNN buys Vancouver’s Zite, promises not to change format - thestar.com: SAN FRANCISCO—CNN has acquired Vancouver’s Zite, a personalized digital magazine for the iPad tablet computer.
Zite learns about its readers' tastes and tries to appeal to them with a package selected from hundreds of different websites.
CNN, a cable news channel owned by Time Warner Inc., has no plans to change Zite's format. The technology may be used to help CNN customize its news on the iPad and other mobile devices.
Financial terms of the deal announced Tuesday weren't disclosed, though some reports estimated the purchase price at $20 million to $25 million.
Zite, whose headquarters are located in San Francisco, started a specialty search engine called Worio six years ago. Its magazine for the iPad came out five months ago.