Disney shares fall on report of possible Twitter bid

by Ben Pena September 27, 2016, 0:43

Well, it now appears as if another giant is looking to take over that Internet connectivity playground.

Twitter, Microsoft, Disney and Facebook were not immediately available for comment.

Yes, the mouse may be catching the bird.

The company is only working with a financial adviser to evaluate a possible bid, according to Bloomberg. DIS has traditionally positioned itself as very family-friendly, but it's doubtful they'd make large-scale changes to Twitter simply to align it more with its own image. Surely there are less expensive ways to expand the reach of Disney's media.

Other companies are joining in on the fight and it looks as if they will need a lot more than just 140 characters to have their bid approved.

Iger has sought to increase Disney's new media expertise, adding Dorsey and Facebook Inc.

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Now, as far as the price for Twitter?

Earlier in the day, Twitter's stock was down 4 percent but turned positive after the news, with trading nearly double its 30-day average volume. Despite its film pedigree, Disney's biggest business happens to be cable TV with properties like ESPN and ABC.

Is TWITTER being fitted for a pair of Mouse ears?

TWITTER shares reversed those declines on the news of DISNEY's interest, rising as much as 2%, trading at $22.83 this afternoon.

That is nearly double the 30-day average volume and easily made their worth even bigger.

Twitter's market capitalization is now roughly $20 billion-or about five times what Disney paid for the massively successful film house Lucasfilm, the creators of the Star Wars franchise-and although the move would likely be a pricey one, it could potentially align with where Disney is looking to expand. James Cakmak, an analyst at Monness Crespi Hardt & Co., provided some insight by saying, "It's a video distribution play..."

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