Report Says Apple Considered Buying Time Warner Last Year

Report Says Apple Considered Buying Time Warner Last Year

A Thursday report from The Financial Times indicates Apple considered a buyout of Time Warner late last year. Apple executive Eddy Cue first raised the possibility during a meeting with Time Warner’s head of corporate strategy, Olaf Olafsson. Apple never made a bid, nor did negotiations ever reach the point of Apple CEO Tim Cook becoming involved.

Report Says Apple Considered Buying Time Warner Last Year

9to5Mac:

However, Apple is still interested in acquiring media company talent and sources indicate the company is ramping spending on original content: “several hundred million dollars a year”.

The deal could have jump-started Apple’s long-rumored streaming television package for its popular Apple TV set-top box. If the deal had become a reality, it could have been Apple’s largest grab ever, easily outpacing the $3 billion the company spent to acquire Beats in 2014. Time Warner, which owns HBO and CNN, is valued at approximately $60 billion.

The Financial Times report jibes with a New York Post report earlier this year that said Apple was eyeing a potential takeover of Time Warner.

Long standing rumors have Apple working to create its own digital television streaming service that would offer a “skinny bundle” of channels for a monthly fee of around $40 or so. Rumors had indicated the new service would launch alongside the fourth-generation Apple TV set top box. However that device’s debut came and went in October 2015, with no sign of an announcement concerning the streaming service.

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