Disney ready to spark bidding war for Twitter
Walt Disney Co has become the latest big name to be linked to a bid for Twitter, which has a market value of $16bn, following suggestions that Salesforce may also be ready to show its hand.
Citing people familiar with the matter Bloomberg is reporting that the entertainment giant has teamed up with a financial adviser to weigh up its options after the micro blogging platform initiated its sale process.
Speculation surrounding the future of Twitter has been rife for weeks as the platforms inability to drive sufficient advertising revenue and new members finally proving too much to bear by investors.
Disney on the other hand has been faced with the prospect of losing cable TV viewers in the face of ever fiercer competition from streaming services and has been seeking new ways to reach a mass audience.
Markets have reacted warmly to the idea of a sale with Twitter’s share price leaping by 21 per cent when news of the Salesforce interest first broke last week.