News
Company reportedly working with advisor on offer for social media service.
Disney has hired an advisor to assist it with a potential bid for Twitter, it emerged late on Monday.
This is according to sources cited by Bloomberg, and follows various reports late last week that claimed several suitors are considering a takeover of the embattled social media service.
"It’s a video distribution play," suggested Monness Crespi Hardt and Co. analyst James Cakmak, in the report, adding that Twitter would give Disney "the platform to reach audiences around the world."
Disney could face some stiff competition though.
Google and Salesforce are said to have sent expressions of interest in acquiring Twitter. This was reported by CNBC on Friday.
Meanwhile, a separate report by TechCrunch put Microsoft – which recently splashed out on LinkedIn – and Verizon – which is busy hoovering up media and advertising assets – in the frame.
According to another report, this time by Recode, offers for Twitter could range from $18 billion-$30 billion.
The reports come amid stalling momentum at Twitter. The company added just 9 million monthly active users (MAUs) in the 12 months to 30 June. By comparison, Facebook added 220 million MAUs over the same period.
