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Disney CEO Bob Iger: We considered buying Twitter

Erin Fuchs
·Deputy Managing Editor

Disney (DIS) CEO Bob Iger acknowledged on Tuesday that the company considered Twitter (TWTR) as an acquisition target but instead decided to buy a company called BAMTech.

“We were looking for a variety of different opportunities to be distributors, to have a direct relationship with customers. We looked at a few different platforms, including Twitter, as a means of taking some of the product that I just described direct to the consumer,” Iger said at the Vanity Fair New Establishment Summit.

“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 that our company makes to the consumer,” Iger added. “But we decided ultimately not to go in that direction.”

When Vanity Fair’s Nick Bilton asked Iger whether he would have let President Donald Trump stay on the platform, Iger smiled and did not provide an answer.

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The rumors of the possible Twitter acquisition emerged last fall, when Bloomberg reported that Disney was working with a financial adviser on a possible bid for the social media site. Yahoo Finance’s Daniel Roberts wrote at the time that Disney should buy Twitter for video streaming possibilities. Other suitors reportedly included Google parent Alphabet (GOOG, GOOGL) and Salesforce (CRM).

Since the Twitter rumors died down, some have suggested other acquisitions that might benefit Disney. Last month, Yahoo Finance Editor-in-Chief Andy Serwer wrote that Disney should purchase Netflix (NFLX), which, among other things, could serve as a platform for Disney’s sports/ESPN service.

“Disney buying Netflix and bringing along CEO Reed Hastings would get Disney out its box and might well be the greatest acqui-hire of all time,” Serwer wrote.

Erin Fuchs is deputy managing editor at Yahoo Finance.

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