Analysts at Citi believe there’s a 40% chance the tech giant could buy Netflix, according to Yahoo! Finance. The recently passed tax cuts will enable Apple to free up overseas cash that it had not previously been able to move to the United States. With a newly lowered repatriation tax at a one-time fee of 10%, the company could move its $252 billion foreign war chest back to American shores without a major tax blow. The company would need only one-third of the remaining $220 billion to buy Netflix outright.
Apple has of late been flexing its entertainment muscle, debuting the popular James Corden series Carpool Karaoke on iTunes in August and recently ordering two seasons of an original drama starring Jennifer Aniston and Reese Witherspoon. (It’s called Top of the Morning, and it’s based on Brian Stelter’s morning show-focused book of the same name.) And while Netflix is more about binge-watching shows long before the sun comes up than starting your day with the morning news, acquiring the service would give Apple a well-known, huge streaming platform to debut the new show on.