Apple's news subscription service a mixed bag for publishers

Apple sign in an Apple store, Photo Date: August 15, 2013 / Cropped Photo: DavidSandoz / Flickr / CC BY 2.0 / (MGN)
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NEW YORK (AP) -- Apple is launching what some have called a "Netflix for news" -- a $10-a-month subscription service that offers access to hundreds of magazines and a handful of newspapers.

But most major U.S. news publishers aren't participating.

Readers get access to articles from over 300 magazines, a smattering of digital sites and some newspapers. Human editors will select stories for the app, and Apple says it will protect peoples' privacy.

Many big-name magazines are on board, hoping Apple brings them new paid readers.

But Apple's large cut of revenue -- reportedly a 50-50 split -- and the loss of a direct relationship with readers may not be appealing to many media companies, especially those that are successfully expanding their own digital readership.