Time Warner CEO says possible Apple buyout was never 'serious'
Apple's senior VP of Internet Software and Services, Eddy Cue, likely had no "serious" intentions when suggesting the possibility of a Time Warner takeover, according to the latter company's CEO.
"That particular one is more about the efforts of the technology companies, Apple included, who we've been trying to help because we want this better user interface, and what they should do and how would they get involved," Jeff Bewkes explained to Bloomberg in an interview published on Tuesday. "That's more about that than M&A [merger and acquisition]. I don't think M&A was serious."
In May, a report indicated that Cue raised the idea during a 2015 meeting with Olaf Olafsson, Time Warner's head of corporate strategy. Even at the time, though, sources claimed that talks never went beyond a preliminary stage, and in fact never reached the CEOs of Apple or Time Warner.
Buying Time Warner -- not to be confused with the separate Time Warner Cable -- would, in theory, give Apple instant access to a wide range of channels and movie studios, among them CNN, HBO, and Warner Bros. That might be particularly advantageous if Apple can make progress towards a live streaming TV service, which has allegedly been stalled by hardline negotiation tactics.
The problem however is that Apple would then find itself knee-deep in an industry it has no familiarity with, and locked into obligations -- such as with cable and satellite providers -- that it would probably rather avoid. The need to reach a maximum audience with shows like Game of Thrones would force it to better support platforms like Android and Windows.
"That particular one is more about the efforts of the technology companies, Apple included, who we've been trying to help because we want this better user interface, and what they should do and how would they get involved," Jeff Bewkes explained to Bloomberg in an interview published on Tuesday. "That's more about that than M&A [merger and acquisition]. I don't think M&A was serious."
In May, a report indicated that Cue raised the idea during a 2015 meeting with Olaf Olafsson, Time Warner's head of corporate strategy. Even at the time, though, sources claimed that talks never went beyond a preliminary stage, and in fact never reached the CEOs of Apple or Time Warner.
Buying Time Warner -- not to be confused with the separate Time Warner Cable -- would, in theory, give Apple instant access to a wide range of channels and movie studios, among them CNN, HBO, and Warner Bros. That might be particularly advantageous if Apple can make progress towards a live streaming TV service, which has allegedly been stalled by hardline negotiation tactics.
The problem however is that Apple would then find itself knee-deep in an industry it has no familiarity with, and locked into obligations -- such as with cable and satellite providers -- that it would probably rather avoid. The need to reach a maximum audience with shows like Game of Thrones would force it to better support platforms like Android and Windows.
Comments
I disagree with the last sentence, f*** them. I wouldn't support thieves or make them happy. I'm sure the DOJ would get involved, though they have ZERO problem with theft.
I read an article recently about how Eddy Cue showed up late to a meeting with a bunch of corporate types and the CEO of Time Warner, wearing jeans, no socks and an Hawaiian shirt.
I don't know what's going on behind the scenes of course, but I do know that Apple currently has nothing to show for all of their rumored TV deals.
thats why i bring up the profit. apple knows whats its goddam doing, and you dont. why is why you're here, anonymous posters on a rumors site beating your chests, while Cook, Cue, Schiller, et all are actual real people out there doing things and winning at it. over and over. much to the chagrin of you armchair executives who are so quick to say how theyre doing it wrong. despite the fact that you're doing exactly nothing and theyre bringing home the massive, massive bacon every quarter.
but yeah man. profits dont matter. one look at your own tech company is proof of that, right.
I just upgraded to the latest generation ATV and have been a longstanding cord cutter. The ATV has slowly but surely become the primary way that I watch television. The future is a single internet pipe into our homes and only on demand access.
It is not a perfect device but I am not going back.