Apple considered buying Time Warner: Report

Apple had once considered buying Time Warner - one of the most influential media and entertainment companies in the world, according to a Financial Times report.

The discussions, according to the sources, however, didn't proceed beyond the preliminary stages and also didn't include Apple CEO Tim Cook or his Time Warner counterpart Jeff Bewkes.

On the background of declining sales of Apple's best-selling products, the company's interest in owning a media company is understandable as it would add new revenue points and also give it a deep inroad into the lucrative content creation market.

Apple is meanwhile also investing creating original content of its own.

Of late, Apple has been diversifying its investments. Earlier this month the company announced that it is investing $1 billion in Didi Chuxing, Uber's rival in the China.