(Reuters) – Walt Disney Co will create live sports, news and entertainment programing specifically for Twitter Inc’s social media platform, the companies said in a statement on Monday.
Twitter and Disney’s ESPN sports networks will announce details of coming live shows later on Monday and also on Wednesday when each presents their future programing lineups to advertisers, the companies said.
The move will expand Twitter’s streaming video offerings and help Disney reach more audiences online while traditional television viewing is on the decline.
Under the agreement, Disney’s ABC broadcast network, the Disney Channels, Freeform and the company’s movie studio also will produce live programing for Twitter, the statement said.
Twitter shares jumped 4.6 percent to $30.27 after the deal was announced. Disney shares already were trading 1.4 percent higher following the record-setting debut of “Avengers: Infinity War.”
Reporting by Lisa Richwine in Los Angeles; Editing by Lisa Shumaker