Apple to buy Time Warner, according to reports

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iPhone maker could use acquisition to bolster Apple TV streaming service

Rumoured deal

Apple may be about to snap up one of the biggest media companies in the world, it has been reported.

According toThe New York Post, Jeff Bewkes, the boss of HBO-owner Time Warner, said the company would not be considering a spin-off of any of its broadcasting services at "splitting up can destroy value". However, the CEO hinted at the possibility of Time Warner being sold off as a whole entity.

A further report from The Post suggested Apple could be a potential buyer.

"Apple is eyeing Time Warner's assets to ease the launch of a stand-alone streaming TV service, a senior tech insider suggested on Tuesday," said The Post.

"Eddie Cue, one of Apple chief executive Tim Cook's top lieutenants, in charge of content deals, has been keeping tabs on proceedings at Time Warner, a source close to Apple said," the outlet added.

Apple announced a tie-up with HBO back in September for its Apple TV service, which gave customers in America first dibs on certain content.

The New York Post also pointed out that, in December, "a mystery buyer bought $100 million worth of Time Warner call options, which give the purchaser the right to buy shares at a set price in the future".

This is not the only rumour that Apple is branching out of the devices market to emerge this week. Earlier, serial entrepreneur and Tesla chief Elon Musk said it was an "open secret" that Apple is developing an electric car, which is tipped to make its debut in 2019.

Jane McCallion
Jane McCallion
Managing Editor

Jane McCallion is ITPro's Managing Editor, specializing in data centers and enterprise IT infrastructure. Before becoming Managing Editor, she held the role of Deputy Editor and, prior to that, Features Editor, managing a pool of freelance and internal writers, while continuing to specialize in enterprise IT infrastructure, and business strategy.

Prior to joining ITPro, Jane was a freelance business journalist writing as both Jane McCallion and Jane Bordenave for titles such as European CEO, World Finance, and Business Excellence Magazine.