Apple has reportedly shown an interest in buying media giant Warner Bros., likely to add its content to Apple TV. But there's competition, with Amazon and Paramount also in the race.
That's according to current Warner Bros. CEO David Zaslav after he briefed the company's senior executives about the plans. Bloomberg reports that Warner Bros. has already turned down two bids from Paramount Skydance because the figures were too low.
The report notes that Warner Bros. is expected to ask suitors to sign nondisclosure agreements within days. The process, which now looks set to become a bidding war, will require an NDA before sensitive business information can be shared.
Apple, Paramount, and Amazon aren't the only companies thought to have run an admiring eye over Warner Bros. The report notes that both Netflix and Comcast are also though to be keen on licking up its movie and TV library.
It's that library that is likely to be behind Apple's interest, too. Thus far, the newly renamed Apple TV service has relied on in-house content, but that could soon change.
Warner Bros. owns the prolific HBO, a name that has become synonymous with class-leading, hugely popular content. By adding its shows to Apple TV, Apple would instantly be home to some of the best shows on TV.
HBO is responsible for hits like Game of Thrones, Silicon Valley, and The White Lotus, to name a few.
Currently, market research outfit Antenna believes that 21% of US HBO subscribers also pay for Apple TV. It's clear that Apple TV subscribers want to watch HBO content, so bringing it in-house makes plenty of sense.
It would also mean that current Peacock, Paramount+, and Netflix subscribers who also pay for HBO will need to jump ship. Such a move would instantly open Apple TV to more homes than everbefore.
