Twitter Partners with Bloomberg as CEO buys 574,000 shares

Twitter, Inc. (NYSE: TWTR) will partner with Bloomberg to provide a round-the-clock streaming news service in the fall of 2017, The Wall Street Journal reported on Sunday.

The channel will be streaming original global financial news produced solely for the social media company, not just simply rebroadcasting news from Bloomberg television.

“It is going to be focused on the most important news for an intelligent audience around the globe and it’s going to be broader in focus than our existing network,” said Bloomberg Media’s chief executive officer, Justin Smith. The WSJ reported on Sunday.

Twitter had previously partnered with Bloomberg to live-stream the 2016 U.S. presidential debates last year.

Twitter has struggled to attract new users since the company went public in 2013. But the company reported better-than-expected user’s growth last year, thanks to its efforts to attract more users by streaming live video from sports, entertainment and news partners.

The company’s CEO Jack Dorsey also said he bought 574,000 shares of the company late Friday afternoon for about $9.5 million, boosting his purchase of twitter share for about 1 million year to date.

Twitter shares jump as much as 6.25 percent to $17.51 in the early trading.

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