Science

Apple Might Buy Netflix: Citi

Apple Might Buy Netflix: Citi

As such, this new tax reform might allow the company to put the cash to good use. This perhaps makes the company more attractive to Apple, which has begun dabbling with original content to supplement the movie and TV show purchases and rentals traditionally available through iTunes. The cut in corporate taxes and one-time allowance for companies to repatriate cash stored overseas without a major tax hit will give Apple, which has about $252 billion in cash at mostly foreign jurisdictions, a way to bring money back to the U.S. and make acquisitions. This likelihood was also projected by the company in May 2017.

Acquiring Netflix would really allow them to get a bigger chunk of the original content and streaming pie than would otherwise be possible. Apple has approximately $252 billion in cash, and much of that money is overseas. "With over 90% of its cash sitting overseas, a one-time 10% repatriation tax would give Apple $220 billion for M&A or buybacks".

Analysts reckon there's a 40% chance that Apple could buy Netflix due to a corporate tax cut granted by US President Trump.

A report by IANS pointed out that there is a 40 percent that Apple might buy the video-streaming service.

Massive fire rips through block of flats in Manchester city centre
Joiner Street and Church Street were closed as 12 fire appliances responded to the blaze, which affected around four properties. Aman Thakar, visiting Manchester, told the Guardian that the fire appeared to have been quickly brought under control.

Just after the note was written, Disney acquired the studio and television assets of Fox.

Analysts with investment banking monolith Citi are predicting there's a decent chance that Apple will do exactly that. "This is a good problem to have", Suva and Merchant told clients. Now that we know that such a deal can happen, the question is, will it?

There were many rumors past year that Apple will be coming up with its own video streaming subscription-based service to compete with Netflix and Amazon Prime Video which were affecting iTunes popularity.

While nothing is set in stone, Apple may be making one of its highest profile acquisitions in the new year, at least according to two Citibank analysts. In August 2017, the Wall Street Journal reported that Apple plans to invest roughly $1 billion to procure and produce original content over the next year. The company is also developing its own scripted video series which will star Reese Witherspoon and Jennifer Aniston. Under the new taxing rules, the tech giant will be able to repatriate about $220 billion in cash to the US.


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