Disney reportedly considering bid to buy Twitter

The Walt Disney Co. is exploring the idea of bidding on Twitter, people close to the matter told The Wall Street Journal Monday.

Twitter has also held preliminary talks with Salesforce.com Inc, but they are in the very early stages, and there is no guarantee either company will buy the struggling social media service. The number of Twitter users is growing slowly, as is revenue, and senior executives continue to leave. The company has a stock market value of close to $20 billion, with shares rising 3.3 percent to $23.37 on Monday.

Disney has recently invested in Hulu and Vice, and in August, spent $1 billion for a 33 percent stake in BAMTech, which Twitter uses to livestream sporting events. Twitter CEO Jack Dorsey is also on the board of The Walt Disney Company, and views Disney Chief Executive Robert Iger as a mentor, WSJ reports.

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