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The Street

Disney CEO Iger: Contemplated Twitter acquisition, opted for BAMTech

Disney in 2016 acquired a US$1 billion stake in BAMTech, the interactive media and Internet company of Major League Baseball, and purchased a majority stake in the streaming platform in August

PUBLISHED : Wednesday, 04 October, 2017, 1:11pm
UPDATED : Wednesday, 04 October, 2017, 1:14pm

By Giovanni Bruno

Bob Iger, CEO of the Walt Disney Company, says that the multinational entertainment conglomerate contemplated acquiring the beleaguered social media company Twitter, but opted to purchase American internet video provider BAMTech instead.

Iger was speaking at the Vanity Fair New Establishment Summit on Tuesday when he confirmed the interest in Twitter, whose shares are lower over 57 per cent since first going public in 2013.

Disney in 2016 acquired a US$1 billion stake in BAMTech, the interactive media and Internet company of Major League Baseball, and purchased a majority stake in the streaming platform in August for an additional US$1.58 billion.

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