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Published: Tue, September 27, 2016
Economy | By Melissa Porter

Disney considering bid for Twitter

Disney considering bid for Twitter

Microsoft and Verizon were also on the list of potential buyers.

According to Bloomberg, Disney is indeed working with a financial adviser in order to put together a potential bid for Twitter.

Disney is looking into buying social media giant Twitter, it has been reported.

The information comes from Bloomberg, which cites unnamed sources.

Twitter shares surged last week on the news that a takeover could be imminent, but so far, it has yet to receive anything resembling an official offer.

That news helped push Twitter's share price TWTR up 21% in mid-day trading on Friday.

"What we know here is that Twitter and Disney already have a long standing relationship".

That said, Disney is still an unlikely suitor, and even if it does make a bid, it's more likely Twitter's board will prefer to work with a tech company as it sells itself off. James Cakmak, an analyst at Monness Crespi Hardt & Co. thinks that this acquisition is exactly what Disney needs. "They are investing in technology for distribution - and this would give them the platform to reach audiences around the world".

Twitter has been expanding their push into streaming video by gaining rights to NFL, MLB and National Hockey League, and college sports games amongst others, and their Thursday Night Football streams in particular have generally gonewell (although advertisers were hoping for more). As a result of a recent acquisition, Disney owns a stake in BAMTech, the digital arm of Major League Baseball, which runs streaming services for ESPN and others, including Twitter. It's been a year since those rumors were swimming around and this new batch of rumors seems to be holding a bit more weight, now that Disney is in the mix.

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