Reports Suggest Apple might be Considering an Acquisition Deal for Time Warner
If a report from the Financial Times was to be believed Apple could actually become the second biggest media company globally only after Disney.
The report said that one of the Apple executives has proposed bidding for the media company that owns the HBO, Warner Bros. movie studio, and CNN.
Senior VP of Internet services of Apple, Eddie Cue suggested the idea to Time Warner's, Olaf Olafsson, in late 2015. The discussion was rather preliminary and did not take any serious turns and even Tim Cook; Apple's CEO was not involved in it.
Although no acquisition deal for Time Warner materialized till now but the proposal from Cue suggests that the Cupertino based tech giant is serious about its investments in original content.
Time Warner with its market capitalization of $60 billion owns lot of cable channels besides HBO and also has a share in many of the iconic entertainment properties starting from the Looney Tunes to Harry Potter. Reportedly, in January this year, the CEO of Time Warner was exploring sales deals or a spin off for HBO. At that time he said it's because of the assets of Time Warner "everybody wants to own us."
If any deal takes place between Apple and Times Warner, a strong competitor could be created for the current leaders in the field of streaming services, Netflix and Amazon.