NEW YORK (TheStreet) -- Shares of Time Warner (TWX) are advancing by 1.62% to $74.14 in late-afternoon trading on Thursday, as Apple (AAPL) expressed interest in purchasing the media and entertainment company, sources told the Financial Times.
Eddy Cue, who oversees the iTunes store, Apple Music and iCloud, reportedly raised the possibility of a bid at a meeting with Olaf Olafsson, Time Warner's head of corporate strategy, at the end of 2015.
Discussions did not move beyond a preliminary stage and never included Apple CEO Tim Cook or his Time Warner counterpart Jeff Bewkes, the Financial Times reports.
Apple might not pursue its interest in Time Warner, but the tech company has reportedly been considering a range of possible media targets.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.
Time Warner's strengths such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, notable return on equity and attractive valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: TWX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.