×
You will be redirected back to your article in seconds

Apple Exec Raised Prospect of a Bid for Time Warner (Report)

LONDON — Apple expressed interest in buying Time Warner, the owner of HBO, CNN and Warner Brothers, in a meeting held late last year, according to a report in the Financial Times Thursday.

The paper claims Eddy Cue, who oversees Apple’s iTunes store, Apple Music and iCloud, raised the subject of a potential bid in a meeting with Olaf Olafsson, Time Warner’s head of corporate strategy, in New York. The Financial Times cites three people who were briefed on the discussion.

The discussion about a purchase did not progress any further, and never included Apple’s chief executive Tim Cook nor Time Warner boss Jeff Bewkes. Apple and Time Warner declined to comment.

Cue’s meeting had been set up to explore various commercial relationships between the companies, such as the potential inclusion of Time Warner’s cable channels in a future Apple video-streaming service.

Sources tell Variety that the notion of Apple and Time Warner potentially establishing deeper ties, ranging from content partnerships to a merger, surfaced among execs on both sides last year while the companies worked on the launch of the HBO Now broadband service. But sources stressed there has not been any movement toward a formal bid or negotiations.

Apple has historically been shy of diving into the traditional content business. Bewkes has been vocal about wanting to keep the company focused on content production and distribution.

HBO Now launched in April 2015 as a three-month exclusive distribution partnership with Apple, which helped build ties between the two companies.

Cynthia Littleton contributed to this report.

More Biz

  • Stan Lee, left, and Keya Morgan

    Stan Lee's Former Business Manager Arrested on Elder Abuse Charges

    Stan Lee’s former business manager, Keya Morgan, was arrested in Arizona Saturday morning on an outstanding warrant from the Los Angeles Police Department. The LAPD’s Mike Lopez confirmed that the arrest warrant was for the following charges: one count of false imprisonment – elder adult; three counts of grand theft from elder or dependent adult, [...]

  • promenade Cannes Croisette Cannes Placeholder

    Cannes Market Claims Record Visitor Numbers

    The Cannes Market, the Cannes Film Festival’s commercial wing, says that its 2019 edition welcomed a record number of participants. It reported 12,527 attendees. The largest group by nationality was from the U.S. with 2,264 participants, followed by France with 1,943 participants, and the U.K. 1,145. Comparable figures for 2018 were not available. The number [...]

  • Former movie producer Harvey Weinstein (L)

    Some Weinstein Accusers Balk at $30 Million Settlement

    Updated: Some of Harvey Weinstein’s accusers are balking at a proposed $30 million settlement of their harassment claims, which could scuttle the deal, Variety has learned. Attorneys in the Weinstein Co. bankruptcy case told Judge Mary Walrath on Thursday that they are close to a global resolution of the civil litigation. The accusers, their lawyers [...]

  • Director Dean DeBlois and online game

    'Dragon' Director Dean DeBlois and PUBG's CH Kim to Keynote 2019 VIEW Conference

    Dean DeBlois, director and executive producer of DreamWorks Animation’s “How to Train Your Dragon: The Hidden World,” and PUBG Corporation CEO CH Kim are the first keynote speakers announced for the 2019 VIEW Conference in Turin, Italy, in October. Since it began 12 years ago, VIEW, which stands for Virtual Interactive Emerging World, has continually [...]

  • Harvey Weinstein

    Harvey Weinstein Accusers Near Settlement in Bankruptcy Case

    Attorneys in the Weinstein Co. bankruptcy case say they are getting close to reaching a settlement that would compensate Harvey Weinstein’s sexual misconduct accusers. The company went bankrupt last year, as it faced hundreds of millions of dollars in debt and numerous civil suits on behalf of Weinstein’s alleged victims. The company sold to Lantern [...]

  • Ari Emanuel Endeavor

    Endeavor IPO Filing Offers Details of Company's Financials, Leadership Pay Packages

    Endeavor’s IPO filing Thursday offers a hard look at the company’s financial performance during the past three years during a period of rapid growth for the company that’s home to UFC, WME, Professional Bull Riders and a clutch of other assets. Endeavor is generating solid free cash flow from operations and healthy adjusted earnings for [...]

More From Our Brands

Access exclusive content