Shares of the world’s most popular streaming service, Netflix, climbed 5.7% between Monday and today after rumors began circulating that the Walt Disney Company was looking to placing a bid on the service.
Disney has already invested over $1 Billion into a streaming company called BAM tech, and they have already launched DisneyLife- a service that provides users with a Netflix-like experience for Disney movies and shows.
While DisneyLife has seen some minor successes, the Disney company has partnered (and is currently) with Netflix in the past to provide users with Disney content through the service, allowing them to reach a much wider base. This vast user base may be the reason Netflix is currently in their sights.
Netflix has declined to comment on the matter, simply stating that the company does not formally address rumors.