Apple executive proposed bid for Time Warner

A top Apple executive raised the prospect of the iPhone maker buying Time Warner at a meeting with the owner of HBO, CNN and Warner Brothers, according to three people who were briefed on it.

Eddy Cue, who oversees critical Apple businesses such as the iTunes store, Apple Music and iCloud, broached the idea of a bid at a meeting at the end of last year with Olaf Olafsson, Time Warner’s head of corporate strategy, the people said.

The meeting at the media group’s Manhattan headquarters had been arranged to discuss other commercial relationships between the two companies, such as the potential inclusion of Time Warner’s cable channels in a future Apple video streaming service.

Discussions about Apple buying Time Warner did not get beyond a preliminary stage and never included Tim Cook, Apple’s chief executive, nor his Time Warner counterpart, Jeff Bewkes, people familiar with the matter said.

Read full story at http://www.cnbc.com/2016/05/26/apple-executive-proposed-bid-for-time-warner.html

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