Bob Iger Confirms Why Disney Passed on Twitter
Back in 2016 when Twitter (NYSE: TWTR) was on the ropes, it tried shopping itself around to a handful of giant companies including Disney (NYSE: DIS), Alphabet subsidiary Google, and salesforce.com. The drama, which ultimately did not culminate in an acquisition offer, largely played out in media reports, although Disney CEO Bob Iger confirmed a year later that the House of Mouse had considered such a deal but instead decided to take a majority stake in BAMTech.
"We thought Twitter had global reach, a pretty interesting user interface, and a compelling way that we might be able to present and sell the content our company makes to the consumer," Iger said at the 2017 Vanity Fair New Establishment Summit. "But we decided, ultimately, not to go in that direction. And we ended up -- took us months to do it -- buying a platform called BAMTech."
Image source: Twitter. Image copyright Atsushi Nakamichi for Twitter, Inc.
Source Fool.com
