Flipboard Buys Mobile Newsreading App Zite From CNN

Deal involves content and ad partnership

Flipboard announced today it is buying Zite, one of its smaller rivals in an increasingly crowded space of mobile newsreading apps. In addition to the acquisition, the deal includes a content and ad sales partnership with CNN. All CNN content will be available on Flipboard, and CNN will create custom magazines for the app from its talent and personalities, starting with Fareed Zakaria, Jake Tapper and John King. Flipboard and CNN also will sell ads together.