Last year, Apple was in preliminary talks to purchase Time Warner Cable, according to the Financial Times, but the deal may have fallen through because of other distractions.
Its report cites unnamed bankers who worked with Apple who say that Apple may have been looking to purchase Netflix. Apple currently allows users to buy or rent movies, but not stream them. A service like Netflix, if not Netflix itself, would add another string to Apple's bow.
The Financial Times' report says that Apple senior vice president, Eddy Cue, aired the idea of an acquisition to Time Warner's head of corporate strategy, Olaf Olafsson. Apple CEO Tim Cook and Time Warner CEO Jeff Bewkes weren't present at the meeting, and the idea was ultimately shelved.
Apple is reported to have around €205bn in the bank and Netflix is valued at around €38bn, so Apple could certainly splash the cash. However, neither Apple nor Netflix has announced concrete plans.