Disney are reportedly working with an financial adviser with a view to possible takeover of Twitter.
According to Bloomberg, Disney are looking into the possibilities of making a bid for the social media giant. Even more intriguingly, Twitter – after getting interest in a discussion over a deal – are conducting investigations into a potential sale. In addition, Salesforce.com Inc are also considering making a play, and in fact are working with the Bank of America on the matter.
James Cakmak, an analyst at Monness Crespi Hardt & Co., has suggested that Disney’s interest could have a lot to do with the future of technology;
“It’s a video distribution play. What Disney has to think about is what is its place in a post cord-cutting world. They are investing in technology for distribution — and this would give them the platform to reach audiences around the world.”
Disney CEO and Chairman Bob Iger has already invested in Hulu, digital media company Vice and BAMTech, in an attempt to boost his company, which has seen slumps in cable TV, their biggest area.
Disney and Twitter are yet to publicly comment on the reports.