Apple Still Not Interested in Buying Time Warner Sources Say

U.S. wireless carrier AT&T recently announced it had agreed to buy Time Warner in a blockbuster deal valued at more than $85 billion.
Recently, AT&T and Time Warner officially announced that the former had agreed to pay upwards of $85.4 billion to acquire the latter. Before that was officially official, though, it was reported that Apple was “monitoring” the possibility, with suggestions that the company may swoop in and make a better offer than AT&T, effectively ending that potential acquisition and making Time Warner theirs.

However, “Apple is not interested in buying Time Warner at present,” people familiar with the thinking at the company told CNBC on Wednesday.

“Combining with AT&T is the natural next step in the evolution of our business and allows us to significantly accelerate our most important strategies,” Time Warner CEO Jeff Bewkes said today after his company reported better-than-expected earnings.

Anchor David Faber opined on CNBC’s “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.

But that won’t be Apple, apparently, which would line up right in line with how this has gone so far.

Source: CNBC


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