Disney said to be weighing Twitter purchase to bolster online video efforts
The Walt Disney Company is reportedly examining the prospects, and the risks, of purchasing social media venue Twitter, potentially battling Google and Salesforce for the service.
According to sources familiar with the matter speaking to Bloomberg, Disney is working with financial advisors to evaluate a potential purchase of the microblogging service. Disney is likely looking at the purchase to expand the entertainment giant's growing Internet strategy.
"What Disney has to think about is what is its place in a post cord-cutting world," said institutional investment Monness Crespi Hardt & Co.'s James Cakmak to Bloomberg. "They are investing in technology for distribution -- and this would give them the platform to reach audiences around the world."
Twitter CEO Jack Dorsey has a seat on the board of directors at Disney. Disney CEO Bob Iger has a seat on Apple's board.
Apple founder Steve Jobs worked with Iger during the Pixar acquisition by Disney. Iger was also responsible for licensing ABC shows to Apple for purchase through iTunes, and is in the midst of a technology-related push for Disney as cable revenues drop.
Google and Salesforce have allegedly expressed interest in recent weeks for Twitter. Both companies are likely seeking user data the social network generates, more than generated advertising revenue.
"As a matter of policy, we don't comment on rumors or speculation," Twitter said in a statement about buyout offers.
According to sources familiar with the matter speaking to Bloomberg, Disney is working with financial advisors to evaluate a potential purchase of the microblogging service. Disney is likely looking at the purchase to expand the entertainment giant's growing Internet strategy.
"What Disney has to think about is what is its place in a post cord-cutting world," said institutional investment Monness Crespi Hardt & Co.'s James Cakmak to Bloomberg. "They are investing in technology for distribution -- and this would give them the platform to reach audiences around the world."
Twitter CEO Jack Dorsey has a seat on the board of directors at Disney. Disney CEO Bob Iger has a seat on Apple's board.
Apple founder Steve Jobs worked with Iger during the Pixar acquisition by Disney. Iger was also responsible for licensing ABC shows to Apple for purchase through iTunes, and is in the midst of a technology-related push for Disney as cable revenues drop.
Google and Salesforce have allegedly expressed interest in recent weeks for Twitter. Both companies are likely seeking user data the social network generates, more than generated advertising revenue.
"As a matter of policy, we don't comment on rumors or speculation," Twitter said in a statement about buyout offers.
Comments
Disney, the company that want's copyright terms to be infinite and that the world in made of Candy and Sugar
Twitter, the company that peddles inane and often hurtful rubbish (not a fan) that sometimes drive people to .... {you fill in the blanks}
What's not to like eh?
A plague on both their houses.
Yesterday I had an idiot tell me Goog/Android don't data mine users.
Because when I think online video... I think of Twitter...
Disney owns ABC and ESPN.
Twitter is more a broadcast medium than social network any more.
Also, don't forget that Twitter owns Periscope.
And Periscope does live video streaming, in case you don't remember.
All of which would help prepare Disney for all those future cable-cutters.
Because cable-cutting now also means "streaming everything wirelessly."