Local News

Speculation Grows Over Possible Disney Bid For Twitter

/ CBS San Francisco

SAN FRANCISCO (CBS SF) -- Talk of a Twitter takeover by Walt Disney Co. is brewing.

After months of speculation that the struggling social media company would be sold, financial sources say Disney is seriously evaluating a possible bid.

Salesforce.com Inc. has also expressed interest, according to Bloomberg Markets. The San Francisco-based company is "working with Bank of America on the process."

Disney already owns ESPN and ABC. Twitter CEO Jack Dorsey has served on on Disney's board since 2013.

Twitter is based in San Francisco and valued at $20 billion. Shares rose 3.3% on Monday to $23.37 after news of a possible bid from Salesforce.com.

First published on September 27, 2016 / 1:59 PM PDT

© 2016 CBS Broadcasting Inc. All Rights Reserved.

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