- The Washington Times - Wednesday, October 5, 2016

San Francisco-based social-media platform Twitter is nearing a decision on whether it will put itself up for sale, Reuters reported Wednesday.

The company told interested parties considering the purchase that it will get back to them by Oct. 27 with a decision, Reuters said, citing unnamed company sources. That deadline coincides with the date the company plans to reveal its third-quarter earnings numbers.

Salesforce.com seems to be the odds-on favorite, although Google parent Alphabet and Disney have also expressed interest, according to Reuters. CEO Jack Dorsey sits on Disney’s board.

Twitter stock was trading in the teens before the rumors of a pending sale surfaced in September. The stock is trading presently in the mid-$20s per share. The company has never turned a profit and competing social-media platforms like Facebook and Snapchat — the latter overtook Twitter in the daily-use measure back in June — command more active users, and with it, the revenue from companies looking for the best bang for their buck with social-media advertising.

 

LOAD COMMENTS ()

 

Click to Read More

Click to Hide