Walt Disney Co. (NYSE: DIS) is reportedly working with a financial advisor evaluating a potential acquisition bid for Twitter Inc. (NYSE: TWTR). Meanwhile Twitter is in the process evaluating a possible sale, according to Bloomberg.
Previously there were reports that the CRM company Salesforce.com Inc. (NYSE: CRM) has also expressed interest in a possible Twitter buyout. The company is currently working with Bank of America (NYSE: BAC) discussing the process.
James Cakmak, an analyst at Monness Crespi Hardt & Co explained in a statement why Disney might benefit from Twitter’s platform, “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.”
Disney’s largest business division is cable television, and it is also the only division that is losing viewers because of an increased number of cord cutters.