Apple has hired a former Time Warner Cable executive. So is Cupertino looking to launch a TV streaming service?
Peter Stern, a former executive in TWC, is now on Apple Inc.'s payroll. Stern will function as Apple's vice president for cloud services in which he will be oversee Apple Music, iTunes and iCloud. Some purport that a TV streaming service will also be placed under Stern's watch.
An Apple spokesperson confirms Stern hiring via the Wall Street Journal.
According to WSJ's sources, Stern will report directly to Apple's SVP of internet software and services, Eddy Cue. Cue is in charge of the company's offered services such as Apple Music, iTunes and Apple Play. The SVP is reported to be the lead figure in Apple's negotiations with landmarks in the media industry for a TV streaming service, which is yet to come into fruition.
Stern started working for Time Warner Cable in 2004 as the company's executive vice president for product management. He was elevated to EVP and chief strategy and corporate development officer in 2008. By 2012, Stern became TWC's EVP and chief product, people and strategy officer, a position he held until he departed from the company in June 2016.
His departure comes after Charter Communications Inc., a competing cable telecommunications company that functions under the branding of Charter Spectrum, acquired TWC. The deal in which Charter Communications acquired both TWC and Bright House for $65 billion was officially completed in May 2016.
During his tenure in TWC, stern helped conceive and launch a number of product innovations such as TV Everywhere and Wideband Internet. With multiple innovations, TWC's internet business grew by as much as three times, and its phone business matured, according to Stern's LinkedIn profile.
"Mr. Stern was a key Time Warner Cable executive involved in talks with Apple a few years ago about a potential deal to offer a joint television service over an Apple set-top box," says WSJ's sources who also specified that Stern has often aired that cable companies should move to offering TV services as apps that run on an array of modern devices and move away from the traditional business model of leasing set-top boxes to their customers.
However, Apple's dealings with Time Warner Cable did not push through due to a handful of issues that include content rights. And while Stern's presence in Apple can signify the company's intent to pursue its TV streaming service, nothing has been confirmed. Apple is yet to release a statement regarding this possibility.
Photo: JC Awe | Flickr
