Walt Disney is working with their financial advisor to work out a possible bid for Twitter. The company is comprehending to accept the bid with their own financial team.
Another three competitors, Salesforce.com, Google and Microsoft are all planning bids on Twitter. There is a possibility that Disney will come out first as Jack Dorsey, CEO of Twitter is also on the board of Disney.
“It’s a video distribution play, what Disney has to think about is what is its place in a post cord-cutting world. They are investing in technology for distribution – and this would give them the platform to reach audiences around the world.” said James Cakmak, analyst at Monness Crespi Hardt & Co.
All four companies are trying to invest in the social media giant as sales fell hard earlier this year at 2%. Stocks then soared in late September as much as 2.1% for Twitter and Disney.
CEO of Disney and Chairman, Bob Igor, has a reputation for being a ‘strategic thinker‘ who put a bold bet on Pixar Animation at $7.4 billion in 2004, a few months after he became CEO. He is hoping to use Twitter as a platform to sell their brand and spread the message about Disney. Igor hopes to buy into Facebook shares as well to increase his media awareness.