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.

Top Rated Comments

Kaibelf Avatar
68 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
68 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
68 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
68 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
68 months ago
One of the smartest decisions Tim has made since he took over. :)
Score: 5 Votes (Like | Disagree)
newyorkone Avatar
68 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)

Popular Stories

iPhone 14 Mock pill and hole thumb

ProMotion Now Expected to Remain Exclusive to iPhone 14 Pro Models, Not Expand to Entire Lineup

Sunday January 16, 2022 8:56 am PST by
Continuing the tradition set with the iPhone 13 Pro, only the highest-end iPhone 14 models will feature Apple's ProMotion display technology, according to a respected display analyst. Ross Young, who on multiple occasions has detailed accurate information about Apple's future products, said in a tweet that ProMotion will not be expanded to the entire iPhone 14 lineup and will remain...
AirPods Pro Gen 3 Mock Feature Red

AirPods Pro 2 Could Start a New Accessory Ecosystem

Friday January 14, 2022 2:34 am PST by
Apple's second-generation AirPods Pro could arrive alongside a new series of accessories, recent leaked images suggest. Alleged leaked photos of the next-generation AirPods Pro obtained by MacRumors showed a charging case with a metal loop on the side for attaching a strap. Apple has not used this design for any of its other AirPod models and it is unclear why it would be added in this...
Unlikely Products 2022 Feature

Six Rumored Apple Products You're Unlikely to See This Year

Saturday January 15, 2022 2:06 pm PST by
Much has been said about what consumers could see from Apple in 2022, but the company is also working on a handful of rumored products that aren't expected to be unveiled for at least another 12 months, and in some cases a lot longer. Of course, that's assuming they get released at all. Apple works on many potential products some of which ultimately never see the light of day. With that in...
safari icon blue banner

Safari Bug Allows Websites to Track Your Recent Browsing Activity in Real Time

Sunday January 16, 2022 3:37 pm PST by
A bug in WebKit's implementation of a JavaScript API called IndexedDB can reveal your recent browsing history and even your identity, according to a blog post shared on Friday by browser fingerprinting service FingerprintJS. In a nutshell, the bug allows any website that uses IndexedDB to access the names of IndexedDB databases generated by other websites during a user's browsing session....
ipad air 4 video

New iPad Air Rumored to Launch This Spring With A15 Chip, 5G, Center Stage Camera, and More

Saturday January 15, 2022 8:05 pm PST by
Apple is planning to release a fifth-generation iPad Air with similar features as the sixth-generation iPad mini, including an A15 Bionic chip, 12-megapixel Ultra Wide front camera with Center Stage support, 5G for cellular models, and Quad-LED True Tone flash, according to Japanese blog Mac Otakara. Citing reliables sources in China, the report claims that the new iPad Air could be...
netflix2

Netflix Again Raises Prices for All Plans, 4K Streaming Now $20 Per Month

Friday January 14, 2022 12:46 pm PST by
Netflix today updated the prices for its streaming plans, and all of its offerings are now more expensive. The Basic plan is now priced at $9.99 per month, the Standard plan is priced at $15.49 per month, and the Premium plan is priced at $19.99 per month. The Basic plan is $1 more expensive, up from $8.99 per month. This plan allows users to watch on just one screen at a time, and it limits ...
top stories 20220115

Top Stories: iPhone 14 Pro Rumors, iCloud Private Relay Controversy, iOS 15.2.1 Released, and More

Saturday January 15, 2022 6:00 am PST by
Hole-punch? Pill? Hole-punch and pill? Rumors about what the front camera system on the iPhone 14 Pro will look like are evolving rapidly, and it now appears we might be getting a novel but potentially controversial design later this year. Other major stories this week included some confusion and controversy about iCloud Private Relay being disabled for some T-Mobile customers, increasing...
iPhone 14 Mock pill and hole 16x9 120hz

Analyst: All iPhone 14 Models to Feature 120Hz Displays, 6GB of RAM, and More

Friday January 14, 2022 7:02 am PST by
Apple is rumored to announce four new iPhone 14 models in September, and ahead of time, analyst Jeff Pu has outlined his expectations for the devices. In a research note with Haitong International Securities, obtained by MacRumors, Pu claimed that all iPhone 14 models will feature ProMotion displays, compared to only Pro models currently. ProMotion enables a variable refresh rate up to 120Hz ...