Disney CEO Robert Iger details why he decided against buying Twitter.
In his new memoir, “The Ride of a Lifetime,” Bob Iger talks about how he made his decision to pass on purchasing Twitter, calling it a “compelling” way to reach consumers but a problematic platform to manage. In the end, the deal never went through, and Disney instead bought a majority stake in sports streaming website BAMTech.
“The troubles were greater than I wanted to take on, greater than I thought it was responsible for us to take on,” he told the New York Times. “There were Disney brand issues, the whole impact of technology on society. The nastiness is extraordinary.”
“I like looking at my Twitter newsfeed because I want to follow 15, 20 different subjects. Then you turn and look at your notifications, and you’re immediately saying, why am I doing this? Why do I endure this pain?” Iger said in the Times interview. Disney was looking into new ways it could open its distribution business and connect directly with customers.⠀⠀⠀⠀⠀⠀⠀⠀⠀
“Like a lot of these platforms, they have the ability to do a lot of good in our world. They also have an ability to do a lot of bad. I didn’t want to take that on,” he said.