On its developer news blog, Apple has announced that it is closing the iAd App Network on June 30th. Targeted at smaller publishers, the iAd App Network let developers pay reduced rates to feature advertisements for their own App Store apps across the iAd publisher network.
The news follows a report from Buzzfeed that Apple is closing iAd campaign sales and converting all inventory to automated system. Apple says that if developers want to keep advertising on iAd until that time, they have to make a campaign from scratch using iAd Workbench. New apps will not be accepted into the iAd App Network Program.