What To Know About Apple News+, The Tech Giant's News Subscription Service

Apple Inc. AAPL announced Monday it's expanding its Apple News service to include access to more than 300 magazines.

The announcement came at an event at Apple's Cupertino, California headquarters where it was also expected to later announce the new Apple streaming service.

Among the magazines included will be The Atlantic, The New Yorker and Esquire.

Apple News+ will also include access to the Los Angeles Times and The Wall Street Journal.

Subscribers to Apple's news service will pay one single monthly fee of $9.99 for the publications. The company said subscriptions to each magazine individually would cost more than $8,000.

Apple News Plus was available Monday - and the company said the first month would be free.

'Curated By Editors'

In a veiled reference to scandals over social media spreading fake news, Apple CEO Tim Cook noted that the service will be "curated by editors," who will choose stories based on publishers' reputation rather than propensity for clicks.

"This is going to take Apple News to a whole new level," said Cook.

The move comes as Apple seeks to shift more toward services, including streaming, seen as critical in the face of a plateau in sales of the company’s signature product, the iPhone.

"For decades Apple has been creating world class hardware and world-class software," said Tim Cook in a presentation at the Steve Jobs Theater in Cupertino. "We've also been creating world-class services. That is what today is all about."

Shares of Apple were down 1.1 percent to $188.81 at time of publication.

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