Disney chief Bob Iger prevailed in a bitter proxy battle with activist investors over the company’s board members Wednesday. The Mouse House garnered a “substantial margin” of support at its annual shareholders’ meeting, keeping its board of directors from relinquishing a board seat to Peltz, head of Trian management, and former Disney chief financial officer … Read more
Disney CEO Bob Iger is making big bets on Taylor Swift, “Fortnite,” and football — investments he claims will fuel “significant growth” as the Mouse House scrambles to recover from years of lackluster results. Iger on Wednesday made a series of sweeping announcements after Disney reported lower-than-anticipated quarterly revenue of $23.5 billion in an attempt … Read more
A $3 billion bet on Walt Disney by Nelson Peltz’s Trian Fund Management was largely responsible for the investment management firm’s underperformance last year compared to its activist hedge fund peers, according to financial details provided to Reuters by a Trian investor. The previously unreported details illustrate the high financial stakes for Trian as it seeks … Read more
Walt Disney said Tuesday it “does not endorse” the candidates nominated by activist shareholders in a preliminary proxy filed with the Securities and Exchange Commission. Disney Chief Executive Bob Iger, in a letter to investors, said the company has embarked on an “unprecedented transformation,” making management changes and streamlining operations to become more cost-efficient. It is … Read more
Activist investment firm ValueAct Capital Management agreed to back Walt Disney’s board nominees at its upcoming shareholder meeting as the entertainment giant looks to fight off a proxy battle from Nelson Peltz. Disney signed an agreement to share confidential company information with ValueAct, plus consult with the San Francisco-based firm “on strategic matters, including through … Read more
