The Walt Disney Company is reportedly eyeing a deal to buy social media platform Twitter.
According to Bloomberg, the Mouse House sees Twitter as a key video distribution platform, and as such has hired the Bank of America to evaluate a deal.
Twitter operates is social media presence includes an average of 313 million monthly users. It currently has $20 billion in capitalization power and with this news of Disney the shares are rising.
Why would Disney be interested . Twitter is frequently used as a video distribution platform. This would give Disney a new way of getting short-form video from ABC,ESPN and Disney Channel networks out to younger adult audiences.
Rumors that Dorsey and the Twitter management team are looking at selling have been swirling on Wall Street for some time. Twitter founder and CEO Jack Dorsey is the board of Disney, meaning the two companies already have top-level lines of communication open.
Let’s all wait and see if the Mouse catches the tweet.
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