Walt Disney is Said to Go After Possible Takeover of Twitter

A sale of Twitter has been the subject of rumors for many months.

The Walt Disney Company (NYSE:DIS) is eyeing Twitter Inc to get its hands on the social-media company’s valuable data, according to a Bloomberg report.

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Bloomberg coverage added that the world’s leading provider of entertainment has hired a financial adviser to evaluate a possible bid for the high-profile but money-losing social media company, citing people familiar with the matter.

A sale of Twitter has been the subject of rumours for many months. The cost of acquiring the Twitter messaging service may be as high as $16 billion, according to another report by Bloomberg.

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Last week, CNBC reported that Twitter was in talks with companies including Google and might receive a formal bid soon. Another source told Reuters that Twitter, based in San Francisco, is talking with Salesforce.com about a possible takeover of the company.

The rumors sent Twitter’s shares up by more than 21 percent last Friday following reports of the talks.

While it remains a destination for conversation among influential people, the company encounters many challenges including management turmoil, stagnant user growth, soft advertising sales and huge losses.

 

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