Disney considers bid for Twitter
THE Walt Disney Company is evaluating a potential bid for Twitter, Bloomberg reported, citing people familiar with the matter.
Unconfirmed reports that Twitter is interested in selling itself buoyed the San Francisco-based company’s shares at the end of last week, and the stock price rose around a percentage point on September 26 as talk of Disney’s interest spread.
Twitter co-founder and chief executive Jack Dorsey is on the entertainment colossus’ board, which could help the service with its push toward using the messaging platform for streaming live video.
Chatter about a possible Twitter sale has intensified amid sputtering efforts to transform the messaging platform into a profitable business.
Google and Salesforce were considered prime suitors. Microsoft and Verizon were also on the list of potential buyers.
Technology news site Recode said Twitter is seeking up to US$30 billion, which could limit the number of bidders.
Analysts have long maintained that Twitter needs to find new ways to boost its appeal with its user base stagnant for the past year.
The company has yet to post a profit even after ramping up advertising efforts. – AFP