AllThingsD :: Zite, the magazine-style reading app for the Apple iPad, has been sold to news giant CNN for $20 million to $25 million. The arena for news readers on tablets and smartphones is competitive, with high-profile efforts such as Flipboard, Livestand from Yahoo, AOL’s Editions and start-ups such as Pulse and Zite. The reason for CNN’s acquisition interest is not a surprise: As readers turn more toward using these mobile devices to consume content, big media companies are trying to acquire the technology to serve up their fare to them.
Continue to read Kara Swisher, allthingsd.com
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