What’s Jeff Bewkes going to do with the $10 billion Time Warner (TWX) gets from the spinoff of Time Warner Cable? He’s not going to buy a broadcast network, he says. Well, he’s probably not going to buy one: Bewkes told the Deutsche Bank Media & Telecom Conference today that while he’d look at NBC U (GE) if it came on the market, “we have no clear aim” to own NBC or CBS (CBS), for that matter.
Time Warner is the biggest outside producer of content for the broadcast networks (Seinfeld, West Wing, ER, etc), and it has been suggested that NBC U would fit perfectly with Time Warner’s studio and cable network assets. (It’s also been suggested — by us — that Time Warner would swallow CBS, but that seems a bit more of a longshot).