Apple Reportedly Considered Acquiring Time Warner

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Apple reportedly considered making a bid for media giant Time Warner, owners of properties including Warner Bros. and HBO.

According to The Financial Times, Apple executive Eddy Cue proposed a deal during a meeting with Olaf Olafsson, the head of corporate strategy at Time Warner. The report also says talks of a deal were preliminary, and never involved Apple CEO Tim Cook or Time Warner CEO Jeff Bewkes.

Both Apple and Time Warner declined to comment.

A potential acquisition of Time Warner would give Apple a wealth of media content from movies to television shows. Time Warner also owns networks including CNN and TBS. Last September, Variety reported Apple held preliminary talks with Hollywood executives about creating its own original programming.

The company had also planned to launch its own streaming TV service alongside the Apple TV set-top box, launched last year. However, the company halted plans because media companies reportedly wanted more money.

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SOURCE: USA Today, Brett Molina