Consider LinkedIn Corp. (NYSE: LNKD) the latest company to scoop up a news-reading application for smartphones.

The social networking service, which is geared toward professionals across all industries, has purchased Pulse, an application that aggregates news stories from more than 750 publishers, for a reported price tag of $90 million, 90 percent of which will be paid in the form of company stock. The remaining 10 percent will be paid in cash.

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