It has partnered with Bloomberg Media to this effect.
The Wall Street Journal has reported that Twitter Inc has partnered with Bloomberg Media for a news streaming television service that will be available on the social media platform 24×7.
The yet-to-be-named channel is expected to begin operations this fall.
This strategic development comes in the wake of stalling user base for Twitter during the last few quarters. The company has been telling advertisers it is looking for ways to strengthen its user base.
As part of its overall efforts, Twitter has updated its product offerings to include live video broadcasts from its app and has launched new features to draw in new users.
Last October, Jack Dorsey, Twitter’s CEO had stated in an internal memo that the company’s missions was to be a “people’s news network”.
According to analysts, Twitter has increasingly made headway into news and sports service for mobile devices and this could be significant since it could be the factor for an acquirer to pique interest in the company.