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Twitter entertains offers to keep Vine video service alive

Twitter's recently announced execution of video sharing service Vine might be stayed, as the microblogging giant is reportedly fielding bids from potential buyers interested in keeping the niche app alive.

According to TechCrunch, Twitter is vetting multiple term sheets from parties who have shown an interest in buying Vine, and has whittled down the candidate pool from more than ten to around five serious contenders.

Sources familiar with ongoing takeover talks claim some offers are coming in at below $10 million, much less than the $30 million Twitter initially paid for the video sharing startup. A New York Times report in October said Vine cost Twitter about $10 million a month in infrastructure and employee costs.

TechCrunch speculates Twitter might still profit from a Vine sale through sponsored content deals arranged by Niche, a social marketing startup the firm purchased in 2015, as well as possible Vine-infused ad buys.

Twitter announced intent to shutter Vine "in the coming months" during an investor conference call on Oct. 27. The microblogging service is looking for ways to cut costs amid bleak growth forecasts, measures that include laying off some 350 people.

Under the plan, Twitter said it would keep an archive of existing Vine content and allow creators to download their videos after the service shuts down. An outpouring of support from the Vine community prompted Twitter to seek alternative options, the report says.

Beyond Vine, Twitter itself was seeking a suitor over the past few months, with reports placing the likes of Disney and Salesforce at the center of acquisition discussions. More recently, however, those big-name corporations signaled Twitter is no longer a target of interest, effectively damping takeover buzz.