Shares of The Walt Disney Company climbed 1.7% today (3 July) following reports that Verizon Communications is rumored to be considering purchasing the media company.
The New York Post reported the rumored deal over the weekend, when a “well-placed” banker told the paper not to count Verizon out of a takeover bid.
Verizon might be looking to take a lead from rival telco AT&T, which announced a takeover bid for Time Warner last year in order to swell its data and advertising capabilities with the addition of a content business.
Source: The Drum
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