Report: Apple SVP Eddy Cue proposed bid to buy Time Warner

Report: Apple SVP Eddy Cue proposed bid to buy Time Warner

Apple’s SVP Eddy Cue reportedly floated the idea of Apple making a bid to buy Time Warner late last year, according to a new report from the Financial Times. Three sources who were briefed on a meeting between Cue and Olaf Olafsson — Time Warner’s Executive VP of Corporate Strategy — at the end of last year revealed that Cue broached the idea of a bid to purchase the media company, although discussions did not go beyond a very preliminary stage and never included any higher-level Apple or Time Warner executives. The purpose of the meeting, held at Time Warner’s Manhattan headquarters, was to discuss ways in which the two companies could build a business relationship, such as including Time Warner’s cable channels in the streaming service that Apple has been developing.
It’s unclear whether Cue’s remarks were an offhand suggestion or an indication of a new strategic direction for Apple. But it’s definitely clear that the Cupertino company has been looking into expanding its business, with reports of a streaming television service that seems to have been put on the back burner more recently. The company is also still working on producing its own original content, similar to what Amazon and Netflix have done. Apple and Time Warner declined to comment on the discussions.

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