Goldman Sachs Wants Apple to Steal Time Warner from AT&T

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October 31, 2016 7:38am Nasdaq:AAPL

Image of Apple laptopReports indicate that Goldman Sachs is advising tech titan Apple Inc. (NASDAQ:AAPL) to make a run at media giant Time Warner Inc (NYSE:TWX), in a move that would disrupt its already agreed-upon acquisition by AT&T.


According to the New York Post:

Goldman is trying to persuade Apple to make a rival bid for Time Warner, a source with direct knowledge of the situation said.

“They are freaking out trying to convince Apple to come in,” the source said. Goldman has been left on the sidelines in advising on AT&T’s $85 billion agreement to acquire Time Warner.

The biggest hurdle, of course, is the fact that Time Warner has already agreed to be acquired by telecom giant AT&T for $85 billion. That’s assuming Apple is even open to the idea, although the company did just roll out a new “TV” app last week, so it may yet have ambitious in the media space. Plus, Apple CEO Tim Cook said during last week’s earnings call that “I would confirm that television has intense interest with me and many other people here. In terms of owning content and creating content.”

Despite recent rumors tying Apple to Time Warner negotiations, TWX said that AT&T was the only company actually pursuing it.

Time Warner’s intellectual property includes the massive Warner Brothers movie library and studio, along with several TV channels like HBO, TBS, and CNN.

Apple shares were mostly flat in premarket trading Monday. Year-to-date, AAPL has gained 8.03%, versus a 4.25% return in the benchmark S&P 500 during the same period.

AAPL-2016-10-31

Meanwhile, Time Warner shares were unchanged in Monday’s premarket. TWX has gained 35.26% year-to-date.

TWX-2016-10-31


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