Disney will unveil fiscal first-quarter financials after market close Wednesday – but this isn’t any earnings report. It’s one that comes with two separate activist shareholders lobbying aggressively to push new directors onto the company’s board because the stock has lagged and, they say, Disney hasn’t made any big moves to create value.
One potential game changer came late yesterday with Disney, Warner Bros. and Fox announcing the launch of a new sports streaming joint venture pooling the sports rights of three big media companies. That will generate a lot of conversation on Disney’s earnings call — but is it enough for Nelson Peltz to back off? He retreated from a proxy fight a year ago, but Disney’s stock was higher then.
The shares are trading at $99 — up nicely from a 52-week low of $79, but still down significantly from a year high of over $118.
Estimates for...
One potential game changer came late yesterday with Disney, Warner Bros. and Fox announcing the launch of a new sports streaming joint venture pooling the sports rights of three big media companies. That will generate a lot of conversation on Disney’s earnings call — but is it enough for Nelson Peltz to back off? He retreated from a proxy fight a year ago, but Disney’s stock was higher then.
The shares are trading at $99 — up nicely from a 52-week low of $79, but still down significantly from a year high of over $118.
Estimates for...
- 2/7/2024
- by Jill Goldsmith
- Deadline Film + TV
The Walt Disney Company announced that they are extending Bob Iger’s contract as CEO through 2026. The former head of the company had returned to the position, after retiring in 2021, in November of 2022.
This is not the first time that the board has extended Iger’s tenure at the company. In fact, this is at least the third time that his contract has been extended — in 2017 (when it was supposed to be up in 2018), when it was extended until 2019 and then later that same year when it was elongated further until 2021.
When he returned to the company in November 2022, after a brief and disastrous run by Iger’s chosen successor Bob Chapek, he swore that he was just there to choose a successor (which he has yet to do) and that he would only run the company for another two years.
This is a total reversal of that and speaks...
This is not the first time that the board has extended Iger’s tenure at the company. In fact, this is at least the third time that his contract has been extended — in 2017 (when it was supposed to be up in 2018), when it was extended until 2019 and then later that same year when it was elongated further until 2021.
When he returned to the company in November 2022, after a brief and disastrous run by Iger’s chosen successor Bob Chapek, he swore that he was just there to choose a successor (which he has yet to do) and that he would only run the company for another two years.
This is a total reversal of that and speaks...
- 7/12/2023
- by Kristen Lopez
- The Wrap
Bob Iger is gearing up to take the earnings stage on Feb. 8 for his first quarterly report and public Wall Street conference call since his surprise return to the Disney CEO post that he exited in February 2020. But running what is likely to be a less-than-stellar quarterly financial presentation for the company is far from the most surreal experience Iger has faced in recent months, thanks to Nelson Peltz.
Trian Fund Management founder Peltz is a billionaire activist investor who hosted a fundraiser for President Donald Trump in February 2020. He’s known to be unhappy with Disney’s response to Florida’s “Don’t Say Gay” bill and at present he’s in the midst of a lawsuit against the wedding planner for his daughter Nicola Peltz and her now-husband, Brooklyn Beckham. For most of last fall, Peltz was also busy trying to engage with Disney brass, asking for meetings and phone calls.
Trian Fund Management founder Peltz is a billionaire activist investor who hosted a fundraiser for President Donald Trump in February 2020. He’s known to be unhappy with Disney’s response to Florida’s “Don’t Say Gay” bill and at present he’s in the midst of a lawsuit against the wedding planner for his daughter Nicola Peltz and her now-husband, Brooklyn Beckham. For most of last fall, Peltz was also busy trying to engage with Disney brass, asking for meetings and phone calls.
- 2/7/2023
- by Tatiana Siegel and Jennifer Maas
- Variety Film + TV
A well-liked executive with a lengthy history at the Walt Disney Company is called upon to serve as its CEO after a public fracas resulted in troubled shareholders and concerns about the company's future legacy. When the executive is installed as the CEO, those public concerns quickly dissipate and are replaced by pleased reactions from Wall Street and Disney fans. The executive is, as you may have guessed, Robert Iger. The year? Why, 2005, of course. No, you have not traveled back in time — but history is genuinely, inexplicably repeating itself again. On the Sunday night before Thanksgiving 2022, industry watchers were legitimately stunned by the one-two punch: Disney's current CEO, Bob Chapek, was being ousted, and his replacement was Bob Iger, the man who literally chose Chapek to replace him as CEO. Iger has the advantage of weathering 15 years as the CEO of the House of Mouse, which may help or...
- 11/23/2022
- by Josh Spiegel
- Slash Film
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