Apple may be one of the most valuable companies in the world, with a market capitalization of more than $700 billion and a cash hoard of close to $250 billion. But all of that power and money hasn't helped the company figure out how exactly to integrate movies and TV into its universe.
A recent report in the New York Post paints a picture of a company with all the resources in the world, but no real vision for what it wants to do when it comes to Hollywood. According to various sources, several senior executives including Eddy Cue and Jimmy Iovine have been taking meetings with senior studio types, but the reason for these meetings seems vague.
Some of those who spoke with the Post got the impression that Apple wanted to hire senior executives to run some kind of TV and/or movie venture, while others said it sounded like Apple (AAPL, +0.59%) was working on a possible acquisition to jump start such an effort.
There seemed to be some confusion about who exactly is leading Apple's effort to win over Hollywood, according to the Post. “Robert Kondrk, Eddy Cue, Jimmy Iovine, everyone is trying to be the person," an industry insider told the paper, while another said "Eddy is talking to some people. Jimmy is talking to others. They just haven’t figured it out."
Apple was close to acquiring a Hollywood production company recently, according to the Financial Times. Senior Apple executives were in talks with director Ron Howard's Imagine Entertainment, which has been behind hits like Apollo 13 and The Da Vinci Code. But the deal ultimately fell apart for unknown reasons.
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