According to a report from the Financial Times, last year a top Apple executive broached the prospect of a potential Time Warner buyout at a commercial meeting between the two companies to discuss the possibility of partnering up in a future Apple video streaming service.
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Discussions, however, failed to materialise into anything serious and acquisition proposals never reached either Apple’s Tim Cook or Time Warner’s Jeff Bewkes.
Both companies have since refused to comment the subject.
Given its high-profile assets – including HBO, Warner Brothers and Turner – buying-out Time Warner will allow Apple to catch up with peers Amazon and Netflix when it comes to original content.
People close to Apple said the company is looking to expand funding for original content with “several hundred million dollars a year.”
It is not yet clear whether negotiations between Apple and Time Warner will resume. But according to the report, the iPhone maker has not yet ruled out acquiring another media company.