The best evidence to date that a new Apple News subscription service is coming has been found in the first beta of iOS 12.2. In that beta, which was released last week to developers, references in the Apple News app to a magazine subscription service have been found. It appears that subscriptions to magazines can be done through the app and paid for through your App Store account like any other subscription.
Apple has long been rumored to be releasing a magazine subscription service after their acquisition of Texture last year. The software mechanisms behind Texture are what Apple is expected to leverage as part of their subscription service they release in News.
While the name “Magazine” may seem to limit the service, it is likely that Apple will also through in subscriptions to news sources like The Wall Street Journal, The Washington Post, and others – assuming they can get those publishers on board. It is rumored that Apple has been courting these publishers heavily to get them to join the subscription service when it launches but those rumors also suggest it has been a hard sell for Apple.
Ultimately how this all shapes up will be difficult to know until iOS 12.2 is actually released. That likely won’t happen until the end of February or early March based on historical beta cycles of these types of releases.