Apple’s efforts to buy Time Warner fell through
Some question Apple’s future in all sorts of “doom” scenarios, but the iPhone maker is hardly doomed. Its cash pile alone could help it move in any number of new directions, and a new report proves exactly that. Apparently, Apple considered buying Time Warner as it looked to make a major push into the media business.
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According to three sources who talked to The Financial Times, Apple’s senior vice president of software and services Eddy Cue suggested the idea during talks with Time Warner’s head of corporate strategy Olaf Olafsson. The proposal didn’t get very far, as the discussions never involved the CEOs of either company, and Cue’s suggestion came during talks between the two companies covering other matters.
The idea of buying Time Warner might sound crazy to some, but it just goes to show what kind of game Apple is playing, even if talks didn’t lead to a deal. The acquisition would have given Apple a multimedia arm worth $60 billion, making it the parent company of HBO, Warner Bros., CNN and others.
Numerous reports had previously detailed Apple’s various talks with TV networks and content creators, claiming that the company is looking to launch a streaming television product. Apple is also already working on its first original series.
A source also told the Times that Apple continues to invest in content, and it's spending “several hundred million dollars a year” on content already. No clarification was made in terms of what type of content Apple is investing in, however.
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This article was originally published on BGR.com
