Disney Dropped Twitter Pursuit Partly Over Image

Walt Disney decided not to pursue a bid for Twitter partly out of concern that bullying and other uncivil forms of communication on the social media site might soil the company’s wholesome family image, according to people familiar with management’s thinking, according to Bloomberg.

The producer of family fare like “Finding Dory“ had gone so far as to hire two investment banks, JPMorgan Chase & Co. and Guggenheim Partners LLC, to help evaluate a bid for Twitter. Disney management also listened to a presentation about the business from Twitter executives, according to the people, who asked not to be identified because the discussions were private.

There were other reasons for Disney not to pursue Twitter. The social media pioneer is losing money and yet sports a market value of almost $12 billion. That would a big deal even for Disney, which has a market value 12 times that. Some of Disney’s largest investors called the company over the past few weeks to express their displeasure with a Twitter purchase for those reasons, people close to the companies said.

Salesforce also decided against a Twitter bid, as did Google.