Twitter looking for new owner

  27 September 2016    Read: 1144
Twitter looking for new owner
Speculation is mounting that social networking service Twitter may soon have a new corporate owner. According to media reports, Walt Disney Co has joined the rank of potential candidates showing interest in a tie-up.
US media giant Disney voiced its interest in acquiring Twitter, Bloomberg confirmed Tuesday. There`s a personal link between the two companies: Twitter co-founder and CEO Jack Dorsey is also on Disney`s supervisory board.

Speculation about Twitter changing hands already mounted last Friday when media reports said Salesforce.com and Google were also eying the networking service.

A deal is by no means certain, though, in light of Twitter`s uncertain financial prospects and steep price tag. Although the company has never logged an annual profit, its market value is more than $16 billion (14.2 billion euros) and is rising further with talk of a sale driving the stock up.

Change of function

Disney for instance might see Twitter as a way to expand the reach of its sports and entertainment programming.

Salesforce.com for its part will want to turn the focus to customer service communications and mining Twitter`s database of tweets for business intelligence, while Google would likely be most interested in the social and news dimension of the service.

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