Magazine-like media aggregation app Flipboard has purchased personalized news app Zite from CNN.
CNN and Flipboard also agreed to a partnership that will launch a series of digital magazines based around the news channel's shows. CNN is reporting that the deal is worth $60 million. Flipboard declined to comment on the terms of the deal.
See also: Facebook's Paper vs. Flipboard: Comparing Mobile News Apps
CNN purchased Zite in August 2011 in a deal that was reportedly in the range of $20 million to $25 million.
Zite's CEO, Mark Johnson, will not be joining Flipboard.
Flipboard allows users to aggregate content into full-page, "flippable" digital magazines that can be viewed on smartphones, tablets or computers. Users can subscribe to feeds or build their own. Originally only available on the iPad, it branched out to Android as well as other devices.
Facebook recently launched a competing product — Paper — which has a similar design and is navigable by gestures. Paper leans more to the curation side, presenting readers with stories, while Flipboard allows for more personalization.
Flipboard has raised around $161 million through three main rounds of fundraising from high-profile names including Rizvi Traverse Management, The Chernin Group, Jack Dorsey, Dustin Moskovitz and Ashton Kutcher.
The company was started by serial entrepreneur Mike McCue and former Apple engineer Evan Doll in 2010.
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