Dis­ney con­sid­ers bid for Twit­ter

The Myanmar Times - - International Business -

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

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