Loewe denies Apple TV takeover talk

May 13, 2012
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German luxury TV manufacturer Loewe has denied reports that it is considering an €87.3m ($112.8m) acquisition offer made by Apple, describing the speculation as having "absolutely nothing to it." An unnamed Loewe spokesperson told German news site Heise that the rumors are unfounded, despite ongoing financial concerns with the company's high-end sets struggling to find buyers in the tough economic climate.

Talk of the buy-out began on Friday, with Apple Insider claiming an uncorroborated source had spilled details of the impending deal. Loewe" has been advised by its financial advisor to accept the offer and a final decision is scheduled to be announced internally before 18 May 2012" the site wrote, though conceded that "the accuracy of the information provided could not be initially verified."

Adding grist to the rumor-mill is the connection to Sharp. The Japanese display manufacturer is Loewe's single largest shareholder, with 28.83-percent of stock in the firm. Sharp is, meanwhile, already a significant provider of displays to Apple's iOS products, but the company has also been linked with talk of an Apple television, tipped to be providing 32-inch and above LCD panels for the long-expected home entertainment product.

With Loewe being known for its emphasis on style, and the Sharp involvement behind the scenes, the dots had seemed to connect themselves for an Apple takeover to look reasonable. Even at $113m, such a deal would be a drop in the ocean given the Cupertino company's swollen bank account.

Despite the expectations, Apple has persisted with its existing living room line-up, introducing the third-gen Apple TV earlier this year. The new box includes 1080p Full HD video support along with streaming screen sharing with the new iPad.

[Thanks Carl!]


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