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Walt Disney planning Twitter bid: Bloomberg

A 3D-printed Twitter logo is seen in this picture illustration. Photograph: (Reuters)

WION New Delhi, India Sep 27, 2016, 08.11 AM (IST)

Walt Disney Co is in talks with a financial adviser over a possible bid for Twitter, Bloomberg reported today. 


The social media giant, however, is reportedly discussing a potential deal with Alphabet Inc and might soon get a formal bid offer.  Meanwhile, Inc is also planning a bid, according to Reuters. 


Bloomberg has said in its report that Disney chairman and cheif executive officer Bob Iger has invested in technology-related media businesses because of losing viewevers on cable TV, which is the company's largest business.


Iger has also sought to increase Disney’s new media proficiency by adding Twitter chief Jack Dorsey and Facebook Inc. Chief Operating Officer Sheryl Sandberg to his board in the past few years.


Twitter has around 300 million active users since 2015 and according to reports, the microblogging site is having trouble in keeping pace with their growing social networking smartphone apps.


Twitter's September results had shown the company weighing ways to cut costs, ramp up revenue or maximise shareholder value by selling itself.


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