U.S. wireless carrier AT&T recently announced it had agreed to buy Time Warner in a blockbuster deal valued at more than $85 billion.
Apple reportedly approached the media giant recently about a possible deal, but the discussions were only preliminary and didn't move forward.
With the AT&T-Time Warner merger requiring regulatory approval that could take months, things could easily change so no wonder watchers have been keeping their fingers crossed for Apple to step in and make a rival bid for Time Warner.
However, “Apple is not interested in buying Time Warner at present,” people familiar with the thinking at the company told CNBC on Wednesday.