Apple Considered Buying Time Warner To Make A Major Push Into Media Business
Apple plans ahead before moving in a specific direction. Even though the company is far from doom, its cash pile alone can allow it to move in various different directions. In the past, it seems Apple has considered purchasing Time Warner as it looked to ramp up original content. According to Financial Times, Eddy Cue, chief of iTunes and services proposed the idea during talks with Olaf Olafsson, head of corporate strategy at Time Warner.
Apple Proposed Buying Time Warner Last Year?
The discussion between the two executives never quite progressed as it did not involved Tim Cook and Jeff Bewkes, the CEOs of both companies. The reported meetings were arranged in contrast to other partnerships, such as Time Warner’s assets in the Apple’s highly anticipated streaming TV service. So we can conclude here that the talks redirected to Apple bidding for Time Warner while discussing other matters of concern.
If Apple acquired Time Warner last year, the deal would have given a multimedia arm of worth $60 billion, ultimately making the iPhone maker the parent company of Warner Bros, CNN, HBO, TBS, TNT and others. Even if the deal did not near in on closing, it comes to show where exactly does Apple want to see itself in the forthcoming future. Nonetheless, we know the acquisition would have been a major help in the company’s attempts to launch a Netflix-like streaming service on the Apple TV, iPhone, Mac, iPad and other such devices. On the other hand, the company also holds NBA broadcast rights in the United States.
Abundant reports and rumors have appeared in the past, hinting Apple’s plans to produce original content, for instance, the company’s talks with various TV networks and content creators. Judging on the bases of these reports, Apple could be planning to launch a streaming service. Moreover, the company is also working to produce its first original TV series. Other published reports also suggest that Apple is already investing quite a lot on content. However, there are no confirmations as to what type of content was the matter of subject.
Previously in April of 2015, Bewkes was pretty sure that Apple will launch a streaming TV service soon. However, no confirm news have emerged from the company. This is it for now, folks. What do you think about Apple proposing a bid for Time Warner? Do you think the talks could have closed in to a deal? Let us know in the comments.