The Wall Street Journal:

Apple Inc.’s plan to create a subscription service for news is running into resistance from major publishers over the tech giant’s proposed financial terms, according to people familiar with the situation, complicating an initiative that is part of the company’s efforts to offset slowing iPhone sales.

In its pitch to some news organizations, the Cupertino, Calif., company has said it would keep about half of the subscription revenue from the service, the people said. The service, described by industry executives as a “Netflix for news,” would allow users to read an unlimited amount of content from participating publishers for a monthly fee. It is expected to launch later this year as a paid tier of the Apple News app, the people said.

Me being picky, but I hate the tag “Netflix for news”. Movies have a long shelf life. The Netflix model works there. Music has a long shelf life. The Apple Music model works there.

News? The word “new” is right in there. Old news is like stale bread. Netflix works, in large part, because of the huge well of older content. New stuff is what draws you in, perhaps, but the older stuff keeps you engaged.

More from the story:

The New York Times and the Washington Post are among the major outlets that so far haven’t agreed to license their content to the service, in part because of concerns over the proposed terms, which haven’t been previously disclosed, according to the people familiar with the matter.

Part of the problem might be this:

Another concern for some publishers is that they likely wouldn’t get access to subscriber data, including credit-card information and email addresses, the people said. Credit-card information and email addresses are crucial for news organizations that seek to build their own customer databases and market their products to readers.

And this from The Verge’s Apple’s new deal for journalism should send publishers running (note that the URL ends with “LOL”):

Publishers, meanwhile, may need to hire new employees to manage the partnership, build the necessary product integrations, and address customer service issues. At a time when the industry is already laying off hundreds of journalists, asking them to build out their partnership and product teams in exchange for a potential revenue increase in the single digits appears laughable on its face.

I can’t imagine that this deal is going to work, at least not as is. Me? I’m going to keep my subscriptions to the new sources I value. I like sending my money directly to the organizations paying the reporters.