Apple 'Not Interested' in Outbidding AT&T to Acquire Time Warner

Apple is "not interested" in buying media company Time Warner currently, according to "people familiar with the thinking at the company" who spoke today with CNBC. Two weeks ago, AT&T announced its interest to purchase Time Warner for $85.4 billion, but as noted today, the regulatory process taken in such acquisitions "could last for months," and at any time another company could swoop in with a better offer. As of now, that won't be Apple.

appletvos
The news comes from David Faber on CNBC's market coverage business show "Squawk on the Street:"

The question of course that has come back to focus on Apple. In fact Bewkes asked on the call were there any companies this year that showed interest in acquiring Time Warner. Mr. Bewkes' answer was let's focus on AT&T. What I can tell you about Apple guys, is right now, according to people familiar with its thinking, it's not interested. Apple is not interested in buying Time Warner at present. Now, these things go on for months and months, this regulatory review's going to take at least a year. The deal will not close. Certainly if you're in Apple, things could change. You watch the stock price as you see how things progress.

But anybody expecting an overbid from Apple at this point, certainly, it is not coming. Again, they are sort of not interested at this time. And it doesn't appear that there would be any other potential interest. Google certainly had been mentioned at one point or another. But right now, it's AT&T's, it will be AT&T's, and the question is do they get it through, what conditions do they agree to in order to get it through the regulators.

On the same day of AT&T's deal, it was reported that Apple was closely "monitoring" the workings between AT&T and Time Warner, especially due to its potential impact in regards to television deals that Apple could make with both companies. Back in January, an initial rumor suggested Apple was looking to buy Time Warner itself, most likely to bolster its rumored cord-cutting streaming TV service, but negotiations eventually stalled and the two companies ceased discussing a potential partnership.

Following the news coming out of AT&T's offer, last week investment banking firm Goldman Sachs reportedly began pushing Apple to put in a rival bid to beat AT&T's and acquire Time Warner for itself. Goldman Sachs was "left on the sidelines" as an advisor in AT&T's bid, but it's still unclear why the firm would heavily encourage Apple to enter an acquisition offer of its own.

Sources were reported as saying that Goldman Sachs was "freaking out trying to convince Apple to come in." A connection between the banking firm and Apple lies in the latter company's 2009 hiring of Goldman Sachs banker Adrian Perica, who now heads up Apple's mergers and acquisitions practices.

Networks like CNN, HBO, TBS, TNT, NBA TV, Cartoon Network, and Warner Bros. are all under Time Warner's umbrella, making it an enticing acquisition for multiple companies looking to bolster an existing, or upcoming, streaming package. Although AT&T appears to be the frontrunner, The Wall Street Journal originally reported that "a host of other contenders" were interested in Time Warner, including Google at one point.

Popular Stories

iPhone SE 4 Thumb 1

iPhone SE 4 With Apple's Own 5G Modem 'Confirmed' to Launch in March

Tuesday November 19, 2024 12:12 pm PST by
Barclays analyst Tom O'Malley and his colleagues recently traveled to Asia to meet with various electronics manufacturers and suppliers. In a research note this week, outlining key takeaways from the trip, the analysts said they have "confirmed" that a fourth-generation iPhone SE with an Apple-designed 5G modem is slated to launch towards the end of the first quarter next year. In line with previo...
airtag purple

AirTag 2 Rumored to Launch Next Year With These New Features

Sunday November 17, 2024 5:18 am PST by
Apple released the AirTag in April 2021, so it is now three over and a half years old. While the AirTag has not received any hardware updates since then, a new version of the item tracking accessory is rumored to be in development. Below, we recap rumors about a second-generation AirTag. Timing Apple is aiming to release a new AirTag in mid-2025, according to Bloomberg's Mark Gurman....
Magic Mouse Next to Keyboard

No, Apple CEO Tim Cook Didn't Say He Prefers Logitech's MX Master 3 Over the Magic Mouse

Sunday November 17, 2024 3:03 pm PST by
While the Logitech MX Master 3 is a terrific mouse for the Mac, reports claiming that Apple CEO Tim Cook prefers that mouse over the Magic Mouse are false. The Wall Street Journal last month published an interview with Cook, in which he said he uses every Apple product every day. Soon after, The Verge's Wes Davis attempted to replicate using every Apple product in a single day. During that...
Generic iOS 18 Feature Real Mock

Apple Releases iOS 18.1.1 and iPadOS 18.1.1 With Security Fixes

Tuesday November 19, 2024 10:10 am PST by
Apple today released iOS 18.1.1 and iPadOS 18.1.1, minor updates to the iOS 18 and iPadOS 18 operating systems that debuted earlier in September. iOS 18.1.1 and iPadOS 18.1.1 come three weeks after the launch of iOS 18.1. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. Apple has also released iOS 17.7.2 for...
at t turbo indicator iphone 16 pro max v0 8hrh7w5f3w1e1

AT&T Turbo Indicator Showing Up in iPhone Status Bar for Subscribers

Wednesday November 20, 2024 3:42 am PST by
AT&T has begun displaying "Turbo" in the iPhone carrier label for customers subscribed to its premium network prioritization service, according to reports on Reddit. The new indicator seems to have started appearing after users updated to iOS 18.1.1, but that could be just coincidence. Image credit: Reddit user No_Highlight7476 The Turbo feature provides enhanced network performance through ...
iPhone 17 Slim Feature Single Camera 1 Redux

'iPhone 17 Air' Rumored to Surpass iPhone 6 as Thinnest iPhone Ever

Monday November 18, 2024 1:07 pm PST by
In a research note with Hong Kong-based investment bank Haitong today, obtained by MacRumors, Apple analyst Jeff Pu said he agrees with a recent rumor claiming that the so-called "iPhone 17 Air" will be around 6mm thick. "We agreed with the recent chatter of an 6mm thickness ultra-slim design of the iPhone 17 Slim model," he wrote. If that measurement proves to be accurate, there would be ...
bug security vulnerability issue fix larry

Make Sure to Update: iOS 18.1.1 and macOS Sequoia 15.1.1 Fix Actively Exploited Vulnerabilities

Tuesday November 19, 2024 10:52 am PST by
The iOS 18.1.1, iPadOS 18.1.1, and macOS Sequoia 15.1.1 updates that Apple released today address JavaScriptCore and WebKit vulnerabilities that Apple says have been actively exploited on some devices. With the JavaScriptCore vulnerability, processing maliciously crafted web content could lead to arbitrary code execution. The WebKit vulnerability had the same issue with maliciously crafted...

Top Rated Comments

Kaibelf Avatar
105 months ago
So they could save us from AT&T, and pass? Thanks Tim...
Why should Apple spend something like $90 BILLION just because you have an issue with a phone company?
Score: 15 Votes (Like | Disagree)
CausticSoda Avatar
105 months ago
That's probably because they can't sell dongles to get an increased return on that particular investment.
Score: 8 Votes (Like | Disagree)
thisisnotmyname Avatar
105 months ago
I have TW internet with 405 Mbps download and 21Mbps up... I don't want AT&T to screw that up!
Time Warner != Time Warner Cable.
Score: 6 Votes (Like | Disagree)
dominiongamma Avatar
105 months ago
Apple has no right to complain how TV works if they aren't willing to spend money for TV.
Score: 5 Votes (Like | Disagree)
iamgalt Avatar
105 months ago
One of the smartest decisions Tim has made since he took over. :)
Score: 5 Votes (Like | Disagree)
newyorkone Avatar
105 months ago
They should buy it for the access and control, but then spin it off as a separate media company along with Beats, Apple Music, iTunes. All the stuff that is making Apple lose focus in the hardware and software front, and failing to innovate should become a separate media focused company.
Score: 3 Votes (Like | Disagree)