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Tag: Analysts

  • Buyers queuing up to buy Twitter; Disney, Microsoft included

    Buyers queuing up to buy Twitter; Disney, Microsoft included

    MUMBAI: Is Twitter up for sale? If the mounting media reports are to be believed, it most likely is. A queue of potential buyers is reportedly is lining up at its corporate doors. Among them: salesforce.com, Alphabet (google’s parent), Microsoft and Disney.

    Analysts say that it is no surprise that Twitter is in the market for buyers. It has been under tremendous pressure to find revenue streams what with the rising power of Facebook, Instagram, YouTube and other social media outlets.

    Says an industry observer: “They received interest offer from salesforce.com and then probably Jack Dorsey, its CEO, and the board probably decided to pursue it as a strategy to see where it could lead to, and they have been fielding enquiries. For a media company, a Twitter acquisition makes sense as there are not too many companies on the social side out there with a subscriber base of 300 million. This is a good opportunity for them to make a play.”

    Salesforce.com is reportedly working with Bank of America on a potential bid while Disney is working with a financial advisor to evaluate whether they should throw their hat in the ring, says a Bloomberg report.

    Bloomberg appears to be betting on Disney being the front-runner. Reason: both Disney CEO Bob Iger and Dorsey are pretty close. Dorsey is on the Disney board along with Facebook’s Sheryl Sandberg. And, Iger has been mentoring Dorsey for sometime now. Additionally, the former has been working on evolving Disney — as its traditional cable TV business is under pressure from cord-cutting and video-on-demand streaming services – into increasing new media plays.

    In recent times, Disney has invested in video streaming service Hulu, Shane Smith digital media company Vice and HBO Now tech partner MLB’s BAMTech. Twitter too has partnered with BAMTech for its live streaming services, says Bloomberg.

  • Buyers queuing up to buy Twitter; Disney, Microsoft included

    Buyers queuing up to buy Twitter; Disney, Microsoft included

    MUMBAI: Is Twitter up for sale? If the mounting media reports are to be believed, it most likely is. A queue of potential buyers is reportedly is lining up at its corporate doors. Among them: salesforce.com, Alphabet (google’s parent), Microsoft and Disney.

    Analysts say that it is no surprise that Twitter is in the market for buyers. It has been under tremendous pressure to find revenue streams what with the rising power of Facebook, Instagram, YouTube and other social media outlets.

    Says an industry observer: “They received interest offer from salesforce.com and then probably Jack Dorsey, its CEO, and the board probably decided to pursue it as a strategy to see where it could lead to, and they have been fielding enquiries. For a media company, a Twitter acquisition makes sense as there are not too many companies on the social side out there with a subscriber base of 300 million. This is a good opportunity for them to make a play.”

    Salesforce.com is reportedly working with Bank of America on a potential bid while Disney is working with a financial advisor to evaluate whether they should throw their hat in the ring, says a Bloomberg report.

    Bloomberg appears to be betting on Disney being the front-runner. Reason: both Disney CEO Bob Iger and Dorsey are pretty close. Dorsey is on the Disney board along with Facebook’s Sheryl Sandberg. And, Iger has been mentoring Dorsey for sometime now. Additionally, the former has been working on evolving Disney — as its traditional cable TV business is under pressure from cord-cutting and video-on-demand streaming services – into increasing new media plays.

    In recent times, Disney has invested in video streaming service Hulu, Shane Smith digital media company Vice and HBO Now tech partner MLB’s BAMTech. Twitter too has partnered with BAMTech for its live streaming services, says Bloomberg.

  • Interpublic group first quarter results disappoint analysts

    Interpublic group first quarter results disappoint analysts

    NEW YORK: Advertising company Interpublic group of companies, the world's second-largest owner of advertising agencies has reported a disappointing results for the FY2003. The group also named Christopher Coughlin (ex executive VP and CFO at Pharmacia Corporation) to assume charge of the newly created position of a chief operating officer.

    While announcing its results on 7 May, Interpublic reported a first-quarter net loss of $8.6 million, or 2 cents a share. That compared with a year-ago profit of $59.8 million, or 16 cents. The first quarter revenues rose nearly 1 per cent to $1.43 billion as foreign exchange fluctuations masked the weakness in the ad market abroad and project-related businesses such as public relations, says an adage report.

    The company, which has reshuffled its management as it contends with earnings restatements and a probe by the Securities and Exchange Commission. The holding company said it swung to a quarterly net loss hurt by higher costs, including severance, as it tries to turn itself around.

    Group chief executive and chairman David Bell was reported as saying that the results were 'disappointing and unacceptable.' He added that the efforts to increase revenues, including cost controlling measures, would begin to bear fruit in the second half of the year.

    Interpublic said its new business wins in the quarter totaled $1.3 billion, including clients such as Merck & Co. and AT&T Corp. , which encouraged some analysts.

    The company said it will accelerate its cost-cutting in the second quarter and believes the second-half of the year and first-half of 2004 will form a base for the future. Interpublic said it will give further details on its plans in August.