Bob Iger, CEO of the Walt Disney Company (DIS - Get Report) , said on Tuesday that the multinational entertainment conglomerate contemplated acquiring the beleaguered social media company Twitter (TWTR - Get Report) , however, opted to purchase BAMTech instead.

Iger was speaking that the Vanity Fair New Establishment Summit on Tuesday when he confirmed the interest in Twitter, whose shares are lower over 57% since first going public in 2013.

Disney in 2016 acquired a $1 billion stake in BAMTech, the interactive media and Internet company of Major League Baseball, and purchased a majority stake in the streaming platform in August for an additional $1.58 billion.

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