Apple looked at Time Warner, linked to Netflix

Tech giant Apple considered a move for its media counterpart Time Warner, according to the UK Financial Times, which added that banking sources said it would be more likely to move for Netflix.

The newspaper said Apple’s Eddy Cue, who reports directly to CEO Tim Cook, discussed a possible move for Time Warner with the company’s strategy chief Olaf Olafsson, adding talks never progressed beyond a preliminary stage.

It went on to cite several unnamed banking sources who suggested it would be more likely to move for a streaming service such as Netflix, which would be a better fit.

Netflix, which went from market star performer to enduring a period in which its stock price was fluctuating down- as well as upwards, ended up 2.6% on the day on the back of the Apple stories. It registered gains earlier this week when it said its movies deal with Disney will kick in later this year.

Back in 2014 News Corp. was rebuffed in an approach for Time Warner and subsequently dropped its interest.