The Walt Disney Co., the well-known operator of theme parks, movie production studios, and cable television networks could soon be a huge player in social media — at least according to reports claiming that Big Mouse is working on a bid for Twitter.
Disney is reportedly working with a financial advisor to weigh its options when it comes to making a bid for Twitter, Bloomberg reports, citing people familiar with the matter.
Speculation of a possible bid comes a week after reports began to surface that Twitter was entertaining a potential sale, with Google and Salesforce.com allegedly among interested companies.
Analysts tell Bloomberg that Disney’s decision to bid on Twitter — if it materializes — would likely focus on video distribution.
“What Disney has to think about is what is its place in a post cord-cutting world,” James Cakmak, an analyst at Monness Crespi Hardt & Co., tells Bloomberg. “They are investing in technology for distribution — and this would give them the platform to reach audiences around the world.”
Disney, Bloomberg reports, is no stranger to branching out into digital and online media offerings. CEO Bob Iger invested in tech-related media such as Hulu, Vice, and other online platforms.
Additionally, Twitter and Disney already share a few common threads, most notably the fact that Twitter CEO Jack Dorsey is on the board of Disney.
Disney Is Working With an Adviser on Potential Twitter Bid [Bloomberg]
by Ashlee Kieler via Consumerist