Chief Executive Officer of Disney Bob Iger has recently confirmed that the company did consider on buying Twitter before ultimately resorting to acquiring a majority stake in sports streaming site BAMTech.
According to Igor on the Vanity Fair's New Establishment Summit in Los Angeles last Tuesday, Disney was trying to diversify its options in terms of its distribution business in which is aimed to go straight to clienteles. Twitter was one of those potential options.
"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 explained in the 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."
Twitter has been one of the most used social media because of its accessibility and its mainstream fame.
According to reports back in September in which cited some names knowledgably about the subject, Disney was interested to buy Twitter. However, Disney was already on a deal with BAMTech in where it owns one-third of the company. In August, it was told on reports that it raise its ownership to 75 percent generally.
A spinout of MLB Advanced Media BAMTech, will strengthen Disney's direct-to-consumer streaming services. "The social media component is interesting, but it's not about social media. It was about distribution." Iger commented about the Twitter.
Disney is currently having an unstable performance. At the time of writing, the company is currently having a similar amount of bears as what it had in its previous performance. It is believed that it’ll go down soon had it not acquire more bull soon. It is generally a -0.10% decrease.
As for its Relative Strength Index, the indicator had shown a downtrend in its recent performance. At 52.61, Disney may continue going downwards in its coming trades as signs of further uptrends has not been seen lately.
The Coppock curve may support the claim that it’ll go down soon. It was last seen at 2.97 and shown signs of possibilities of downtrends since the direction failed to continue going upwards. Since a downtrend is very likely, a sell would be advised.
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