Apple Reportedly Eying Purchase of Time Warner to Boost Apple TV

Time Warner hasn’t committed to stepping up onto the auction block, but pressure is mounting for the company to do something because its value for shareholders is declining.

Time Warner CEO Jeffrey Bewkes reportedly told investors on Monday that he would entertain a sale of the media company, and Apple has been named as a possible suitor, according to the New York Post. Time Warner’s portfolio of valuable content includes CNN news, Turner Sports, and of course HBO, which includes several popular shows and Game of Thrones among them.

Not only is Apple interested in Time Warner, another News Corp. subsidiary, 21st Century Fox ( FOX ), as well as AT&T ( T ) – who owns DirecTV – are also keeping a close eye on a potential acquisition. Apple doesn’t do deals this large-its biggest previous was Beats Electronics in 2014, for $3 billion-but there’s a first time for everything. If Apple found itself in control of such assets, the company would arguably be better equipped to roll out a TV subscription service that would get consumers excited. There is too much included in the package that is Time Warner that Apple doesn’t need.

Actually owning HBO, meanwhile, would introduce an entire set of problems that Apple shouldn’t want to worry about, such as maintaining relationships with the cable and satellite providers that still generate the vast majority of HBO’s revenue. However, it would be an interesting move to see Apple buy its way into TV. Even HBO alone would be a huge feather in Apple’s cap. But video content owners, as any cable operator can attest, are very tough negotiators and are extremely sensitive about digital distribution and privacy risk, and Apple has so far failed to make a deal on its own.