Report: Disney Backed Away From Twitter Because Of Trolls

(RTTNews) - Twitter Inc. (TWTR) may have lost two potential suitors due to the struggling social media site's long-running problem dealing with trolls.

Twitter has turned out be a platform where bullies and extremists can conceal their identities and play with sentiments of other people. Harassment on Twitter has led many people, including celebrities, to delete their account and leave the social platform forever.

Bloomberg reported that Walt Disney Co. (DIS) decided not to pursue a bid for Twitter, partly due to concerns that bullying and other uncivil forms of communication on the social media site might damage the company's wholesome family image.

According to the Bloomberg report, Disney had gone so far as to hire investment banks to help evaluate a bid for Twitter. Disney management also listened to a presentation about the business from Twitter executives.

However, there are said to be other reasons too for Disney deciding against pursuing a bid for Twitter. While Twitter is losing money, it has a market value of almost $12 billion, which would be a big deal even for Disney.

In addition, some of Disney's largest investors reportedly called the company over the past few weeks to express their displeasure with a Twitter purchase.

Meanwhile, CNBC's Jim Cramer reported that cloud computing company Salesforce.com Inc.'s (CRM) CEO Marc Benioff was also put off by Twitter's endemic troll problem. Salesforce shares rose sharply last Friday after numerous reports that the company ruled out a takeover bid for Twitter.

Alphabet Inc.'s Google (GOOG, GOOGL) is also said to have decided against a Twitter bid.

Takeover speculation for Twitter was gaining ground for the past few months as Twitter's investors started to express their concern about the company's weak financial results reflected by its sluggish user growth. The social networking site is struggling to attract new users as it used to.