Disney tried to acquire Twitter
San Francisco: Disney contemplated acquiring the micro-blogging platform Twitter but ended up investing in the interactive media firm BAMTech, Walt Disney CEO Bob Iger has confirmed.
Speaking at the Vanity Fair's New Establishment Summit in California late on Tuesday, Iger said he was interested in buying Twitter but things did not materialise.
There were rumours last year that Google, Salesforce and Walt Disney were in the race to buy Twitter.
The acquisition of Twitter -- struggling to add new users amid stalled growth -- was reported to be about $20 billion. Twitter currently has 328 million monthly active users.
According to a report in The Street, Disney later acquired $1 billion stake in BAMTech, the interactive media and Internet company of Major League Baseball. Disney then purchased a majority stake in the streaming platform for an additional $1.58 billion. BAMTech is helping Disney bolster its direct-to-consumer streaming services.