Disney Almost Bought Twitter In 2016, Then Decided It Was Too ‘Nasty’
Having acquired the likes of 21st Century Fox, Lucasfilm and Maker Studios in recent years, it is hardly surprising to learn Disney once mulled over purchasing Twitter.
What is more surprising, however, is that the billion-dollar media giant eventually passed on the deal due to concerns over brand issues.
Chairman and CEO of The Walt Disney Company Bob Iger has this week released his memoir The Ride of a Lifetime, which details just how close the company came to snapping up the social media platform.
In 2016, rumours of the potential acquisition ran riot across the media. In fact, Twitter co-founder Jack Dorsey even hinted at it in an interview with then-boss of WPP Sir Martin Sorrell the Dmexco conference in Germany.
As we know, nothing came of the rumours.
Some three years later, and Iger has revealed the rumours at the time were certainly correct.
In an interview with The New York Times to promote his book, Iger revealed the prospect of acquiring the social media platform was “compelling”, but that Disney ultimately decided the risk outweighed the reward.
“The troubles were greater than I wanted to take on, greater than I thought it was responsible for us to take on,” he said.
“There were Disney brand issues, the whole impact of technology on society. The nastiness is extraordinary.
“I like looking at my Twitter newsfeed because I want to follow 15, 20 different subjects. Then you turn and look at your notifications and you’re immediately saying, why am I doing this? Why do I endure this pain?”
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