Report: Apple considered buying Time Warner last year, will ramp spending on original TV content
The Financial Times is reporting that Apple considered a buyout of Time Warner late last year, with Apple executive Eddy Cue raising the idea at a meeting with Time Warner’s head of corporate strategy, Olaf Olafsson. The idea of bid was very much tentative and did not enter serious negotiations involving Tim Cook, according to the report. However, Apple is still interested in acquiring media company talent and sources indicate the company is ramping spending on original content: “several hundred million dollars a year”.
Apple has long been rumored to want to launch a skinny cable subscription service for internet television, in concert with its Apple TV set top box. At Startup Fest earlier in the week, Tim Cook said he wants Apple to be a catalyst in the entertainment business.