Through the looking glass: The failed deal will go down in history as one of many that could have redirected the course of history had it materialized. What would Twitter look like today under Disney’s ownership? Would it be a happier, friendlier, more inviting place or would it still resemble the cesspool that it is today?
Disney CEO Bob Iger in his recently released memoir reveals that Disney almost purchased Twitter in 2017 but axed the deal at the 11th hour.
As highlighted in a recent piece by The New York Times, Iger thought buying Twitter could help Disney modernize its distribution. “I like looking at my Twitter newsfeed because I want to follow 15, 20 different subjects,” Iger said. “Then you turn and look at your notifications and you’re immediately saying, why am I doing this?”
Iger said platforms like Twitter have the ability to do a lot of good in the world but added that they “also have an ability to do a lot of bad.” Between the branding issues, the nastiness and the overall impact of technology on society, Iger decided that it was more than he wanted to take on.
At the last minute, the executive called a “stunned” Jack Dorsey (Twitter’s CEO) to tell him that the deal was off. Terms of the deal were not shared by The Times.
Iger’s memoire, The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company, is available now.
Masthead credit: Twitter by Ink Drop