Please wait...
Please wait...

Disney rumours fuel Netflix shares

Stranger Things' second run will premiere next year

Stranger Things’ second run will premiere next year

Netflix shares closed 4% higher in US trading yesterday after speculation of a takeover by The Walt Disney Company hit Wall Street.

Rumours of a deal began spreading on Friday and carried over the weekend, with William Power, analyst at investment bank Baird, saying the streamer could find itself at the centre of a takeover battle.

“Whether Disney, Apple or someone else, Netflix could become a target,” he said. “Determining the timing and likelihood of an acquisition of Netflix is extremely difficult,” he added.

The move would make sense for Disney, which has made no secret of its intentions to move into the streaming space. In August, the company invested US$1bn in streaming service BAM tech and last year launched DisneyLife, a streamer for its movies and TV series.

Last week, speculation also mounted that Disney was looking to make a bid for social media platform Twitter.

A spokesman for Netflix, which is behind originals including Stranger Things and House of Cards, said the company wouldn’t speculate on rumours. The Californian firm is set to report its third quarter results on October 17. Disney shares ended 0.4% lower at the end of trade yesterday.

Please wait...