I’ve been hounded by emails pretty much non-stop ever since TheStreet.com reported on a potential Apple/Electronic Arts deal.
Apple doesn’t buy companies like EA. Apple buys small to mid-range companies with large amounts of intellectual property. That IP can be tapped and used to make new chips, add multi-touch to iPhone, and all sorts of other cool things.
I suspect Apple will build its entertainment holdings the same way. If they don’t, it’s not their style, and I wouldn’t advise messing with a good style.
If you will recall, I reported awhile ago on the potential (and some discussion of) an Apple/Bungie deal. That is more of the direction that I think (and hope) Apple is headed on entertainment acquisitions.