Finally some good news for Twitter investors.
The stock is up 5 percent after it announced a partnership with Bloomberg on Monday to launch a streaming video channel running 24 hours a day, 7 days a week. The news was first announced by the Wall Street Journal. The announcement comes on the heels of CEO Jack Dorsey purchasing 574,000 shares of Twitter late Friday afternoon for about $9 million. Dorsey has purchased about 1 million shares to date in 2017.
Bloomberg and Twitter’s streaming news network will be created just for the platform. The two previously worked together to livestream the presidential debate in September. Advertising revenue was split from video ads that ran during Bloomberg’s pre- and post-debate coverage. Twitter will reveal more about its streaming video plans during its first Digital Content NewFront presentation in New York on Monday evening.