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The company behind Flipboard, a popular app that pulls in content from various sources on the web and serves them to users in a magazine-style format on a phone or tablet, announced on Wednesday that it was buying Zite.
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Zite too serves the web content in magazine format. It competed with Flipboard. Zite was owned by CNN, which was trying to use it to push its own content. But it seems CNN's efforts failed and the media company decided to sell Zite.
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