Walt Disney has emerged as another potential bidder for Twitter, which, with a stock-market value of about USD 20 billion, has also held preliminary talks with Salesforce.com
The sale process is in early stages and it is far from guaranteed that anyone will end up buying Twitter. The takeover talks have been fueled by Twitter's slow growth in users and revenue, perennial turnover among senior executives and a lack of mission and business plan as focused as those of competitors like Facebook Inc. Twitter shares rose 3.3 percent to USD 23.37 in fourth week of September, after rising 21 percent in prior week when news of Salesforce's interest emerged. Disney stock fell 1.4 percent to USD 91.96 a share.
The Twitter acquisition would be Disney's biggest technology deal yet, following recent investments in Hulu and Vice, among others. Since Disney owns ESPN, the media giant could view Twitter's sports-programming efforts as creating a potential rival - or, in the event of a successful acquisition, it could be a source of technology that could benefit ESPN as cord-cutting becomes more widespread.