Sirwalterraleigh
Premium Member
I don’t want to go down this well
(Yes…that should scare the hell out of everyone)
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News Bob Iger is back! Chapek is out!!
- Thread starter Disney4family
- Start date
(Yes…that should scare the hell out of everyone)
Sirwalterraleigh
Premium Member
They can’t do a split…the dilution would cause a run on it
So you think this is a greenmail? Possible
How quaint
JoeCamel
Well-Known Member
Dude has 680K shares.....
I think that is about what Bobby has left
Tha Realest
Well-Known Member
In non finance terms, how is this a bad prospect for those of us that like the parks first and foremost? Not being facetious, don’t know enough of these dynamics of Peltz in particular.
I know a bit of Ike P by virtue of the Marvel palace intrigue.
UNCgolf
Well-Known Member
His goal would be to increase share value as much as possible in the short term. That's not conducive to park spending -- he'd almost certainly want to ramp up what was happening the past couple of years under Chapek. Cut costs as much as possible and increase prices to maximize P&R revenue without any care at all for what happens to the "brand" or potential long-term damage.
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JoeCamel
Well-Known Member
Classic Kerkorian
Slpy3270
Well-Known Member
Yep. And they want Iger to follow Zaslav's playbook.
Tha Realest
Well-Known Member
Thanks for breaking it down like this for me.
Susan left because of a term-limit.
Rather than waiting until the next Stockholder meeting, she probably left now so that they can put Parker as Chair and head of the Succession Committee to blunt Peltz's takeover concern.
Tha Realest
Well-Known Member
Can we agree it’s suboptimal for the parks that the parks have to subsidize the film/D+ side of things? That also has a negative affect on the parks
Updated article from the WSJ -
"Activist investor Nelson Peltz plans to mount a proxy fight for a seat on Walt Disney Co.’sboard, adding to the challenges Robert Iger faces after he recently returned to the role of chief executive at the beleaguered entertainment giant.
Disney revealed the activist’s intentions Wednesday afternoon in a statement that said that it is opposed to having him join the board. It also said that current director Mark Parkerwould become chairman, succeeding Susan Arnold.
Mr. Peltz had planned to launch the battle Thursday, according to people familiar with the matter.
Disney said that while members of its senior leadership team have engaged with Mr. Peltz numerous times over the past few months, the board is asking shareholders to vote against him at the coming annual meeting.
Executives at Mr. Peltz’s Trian Fund Management met with Disney’s top leadership, including Mr. Iger and Chief Financial Officer Christine McCarthy, in California on Tuesday in an attempt to come to an agreement with the company and avoid a proxy battle, but the talks were unfruitful, the people said.
Ms. Arnold phoned Mr. Peltz on Wednesday morning to offer him a role as a board observer and to ask him to sign a standstill agreement, which Mr. Peltz declined, according to the people with knowledge of the call.
Trian, an influential activist investor co-founded by Mr. Peltz, wants Disney to plan for a successor to Mr. Iger, the people said. Mr. Iger had been CEO since 2005 before passing the reins to Bob Chapek in 2020. Last year, Mr. Chapek was fired by the board and Mr. Iger was brought back.
Disney said that its new chairman, Mr. Parker, will lead a newly created succession-planning committee that will advise the board on a new CEO and look at internal and external candidates. The company added that it continually refreshes its board, with a focus on directors with industry experience.
Disney said that Mr. Iger’s mandate is to serve out his full two-year term at the company.
Trian thinks Disney has excessive compensation practices and lacks cost discipline, the people said. The firm is also critical of Disney management’s judgment in recent deal-making efforts, including by overpaying, in its view, for the assets of 21st Century Fox Inc. and bidding aggressively for pay-TV giant Sky PLC, the people said. Fox’s corporate sibling, News Corp, owns The Wall Street Journal.
Ahead of Mr. Iger’s return, Trian in November accumulated more than $800 million of Disney stock in the days following the company’s lackluster fiscal fourth-quarter earnings report, the Journal previously reported.
The stake, which has now grown by about $100 million, isn’t as large as Trian would like it to be and will likely get bigger, subject to market conditions, the people said.
Disney has a market capitalization of over $175 billion. The shares have fallen sharply from a high of roughly $200 in early 2021, and hit a 52-week low of $84.07 on Dec. 28. The shares closed Wednesday at $96.33."
"Trian, like other activists, is known for encouraging changes at the companies it targets, such as the breakup or sale of underperforming divisions or moves to improve efficiency and better use capital. It often seeks board representation and tries to avoid public spats, unlike some of its more pugnacious rivals.
Trian’s proxy battle at Disney will represent the fourth such clash in the investment firm’s history.
The firm is accustomed to hunting large prey, having targeted companies including Procter & Gamble Co., DuPont Co. and General Electric Co.
Mr. Peltz has previously served on the board of other consumer-facing companies including Oreos maker Mondelez International Inc., Kraft Heinz Co. and, more recently, Unilever PLC, the maker of Dove soap and Hellmann’s mayonnaise."
Full article -
www.wsj.com
"Activist investor Nelson Peltz plans to mount a proxy fight for a seat on Walt Disney Co.’sboard, adding to the challenges Robert Iger faces after he recently returned to the role of chief executive at the beleaguered entertainment giant.
Disney revealed the activist’s intentions Wednesday afternoon in a statement that said that it is opposed to having him join the board. It also said that current director Mark Parkerwould become chairman, succeeding Susan Arnold.
Mr. Peltz had planned to launch the battle Thursday, according to people familiar with the matter.
Disney said that while members of its senior leadership team have engaged with Mr. Peltz numerous times over the past few months, the board is asking shareholders to vote against him at the coming annual meeting.
Executives at Mr. Peltz’s Trian Fund Management met with Disney’s top leadership, including Mr. Iger and Chief Financial Officer Christine McCarthy, in California on Tuesday in an attempt to come to an agreement with the company and avoid a proxy battle, but the talks were unfruitful, the people said.
Ms. Arnold phoned Mr. Peltz on Wednesday morning to offer him a role as a board observer and to ask him to sign a standstill agreement, which Mr. Peltz declined, according to the people with knowledge of the call.
Trian, an influential activist investor co-founded by Mr. Peltz, wants Disney to plan for a successor to Mr. Iger, the people said. Mr. Iger had been CEO since 2005 before passing the reins to Bob Chapek in 2020. Last year, Mr. Chapek was fired by the board and Mr. Iger was brought back.
Disney said that its new chairman, Mr. Parker, will lead a newly created succession-planning committee that will advise the board on a new CEO and look at internal and external candidates. The company added that it continually refreshes its board, with a focus on directors with industry experience.
Disney said that Mr. Iger’s mandate is to serve out his full two-year term at the company.
Trian thinks Disney has excessive compensation practices and lacks cost discipline, the people said. The firm is also critical of Disney management’s judgment in recent deal-making efforts, including by overpaying, in its view, for the assets of 21st Century Fox Inc. and bidding aggressively for pay-TV giant Sky PLC, the people said. Fox’s corporate sibling, News Corp, owns The Wall Street Journal.
Ahead of Mr. Iger’s return, Trian in November accumulated more than $800 million of Disney stock in the days following the company’s lackluster fiscal fourth-quarter earnings report, the Journal previously reported.
The stake, which has now grown by about $100 million, isn’t as large as Trian would like it to be and will likely get bigger, subject to market conditions, the people said.
Disney has a market capitalization of over $175 billion. The shares have fallen sharply from a high of roughly $200 in early 2021, and hit a 52-week low of $84.07 on Dec. 28. The shares closed Wednesday at $96.33."
"Trian, like other activists, is known for encouraging changes at the companies it targets, such as the breakup or sale of underperforming divisions or moves to improve efficiency and better use capital. It often seeks board representation and tries to avoid public spats, unlike some of its more pugnacious rivals.
Trian’s proxy battle at Disney will represent the fourth such clash in the investment firm’s history.
The firm is accustomed to hunting large prey, having targeted companies including Procter & Gamble Co., DuPont Co. and General Electric Co.
Mr. Peltz has previously served on the board of other consumer-facing companies including Oreos maker Mondelez International Inc., Kraft Heinz Co. and, more recently, Unilever PLC, the maker of Dove soap and Hellmann’s mayonnaise."
Full article -
Nelson Peltz Plans Proxy Fight Against Disney
Trian Fund Management plans to mount a proxy fight for a seat on Walt Disney’s board, adding to the challenges for CEO Robert Iger.
www.wsj.com
Orderly deleveraging is just a fancy way of saying 'paying off debt.'
Absent the pandemic, Disney was creating more than enough profit to pay off their debt. Taking on Fox was to create an international customer base for D+, and this international market is now its primary source of revenue growth. Analysts at the time thought that that amount of debt was close to being too much, but they weren't worried about it.
Getting dividends back is really Peltz's only concern. If DIS stock is down and he's not getting dividends, then his stock ownership isn't doing anything for him. So, he's going to make Disney magically much more profitable so as to get those dividends.
Absent the pandemic, Disney was creating more than enough profit to pay off their debt. Taking on Fox was to create an international customer base for D+, and this international market is now its primary source of revenue growth. Analysts at the time thought that that amount of debt was close to being too much, but they weren't worried about it.
Getting dividends back is really Peltz's only concern. If DIS stock is down and he's not getting dividends, then his stock ownership isn't doing anything for him. So, he's going to make Disney magically much more profitable so as to get those dividends.
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Before we ask if this is suboptimal, we need to ask if it's real. Disney has enough in the bank to subsidize D+ as a loss leader until it's profitable. To say that the streamer's investment cost comes directly from the park's bucket may be correct... from a certain point of view.
Either way, borrowing to create an enterprise that will turn a profit is the heart of capitalism. Start-up money has to come from somewhere.
Sirwalterraleigh
Premium Member
Parks don’t dictate the course of a huge media conglomerate from a money perspective
They’ve always been a cash cow…which makes for a good dinner when they investor is craving meat
Sirwalterraleigh
Premium Member
What’s happened These last six months is that investors are doubting it ever will be profitable…
It was buoyed by an event where literally Everyone with a Buck was forced to stay home and entertain themselves…and it’s still drowning in costs.
Your analysis is based on what Iger told you 4 years Ago…not the events of what happened or what the money people are saying now.
That’s the problem here. It was a good idea that is trending the way of all steaming: writing checks it’s body can’t cash.
Sirwalterraleigh
Premium Member
If you’re a fan of Disney as you have known it…this should scare the bat out of you…Updated article from the WSJ -
"Activist investor Nelson Peltz plans to mount a proxy fight for a seat on Walt Disney Co.’sboard, adding to the challenges Robert Iger faces after he recently returned to the role of chief executive at the beleaguered entertainment giant.
Disney revealed the activist’s intentions Wednesday afternoon in a statement that said that it is opposed to having him join the board. It also said that current director Mark Parkerwould become chairman, succeeding Susan Arnold.
Mr. Peltz had planned to launch the battle Thursday, according to people familiar with the matter.
Disney said that while members of its senior leadership team have engaged with Mr. Peltz numerous times over the past few months, the board is asking shareholders to vote against him at the coming annual meeting.
Executives at Mr. Peltz’s Trian Fund Management met with Disney’s top leadership, including Mr. Iger and Chief Financial Officer Christine McCarthy, in California on Tuesday in an attempt to come to an agreement with the company and avoid a proxy battle, but the talks were unfruitful, the people said.
Ms. Arnold phoned Mr. Peltz on Wednesday morning to offer him a role as a board observer and to ask him to sign a standstill agreement, which Mr. Peltz declined, according to the people with knowledge of the call.
Trian, an influential activist investor co-founded by Mr. Peltz, wants Disney to plan for a successor to Mr. Iger, the people said. Mr. Iger had been CEO since 2005 before passing the reins to Bob Chapek in 2020. Last year, Mr. Chapek was fired by the board and Mr. Iger was brought back.
Disney said that its new chairman, Mr. Parker, will lead a newly created succession-planning committee that will advise the board on a new CEO and look at internal and external candidates. The company added that it continually refreshes its board, with a focus on directors with industry experience.
Disney said that Mr. Iger’s mandate is to serve out his full two-year term at the company.
Trian thinks Disney has excessive compensation practices and lacks cost discipline, the people said. The firm is also critical of Disney management’s judgment in recent deal-making efforts, including by overpaying, in its view, for the assets of 21st Century Fox Inc. and bidding aggressively for pay-TV giant Sky PLC, the people said. Fox’s corporate sibling, News Corp, owns The Wall Street Journal.
Ahead of Mr. Iger’s return, Trian in November accumulated more than $800 million of Disney stock in the days following the company’s lackluster fiscal fourth-quarter earnings report, the Journal previously reported.
The stake, which has now grown by about $100 million, isn’t as large as Trian would like it to be and will likely get bigger, subject to market conditions, the people said.
Disney has a market capitalization of over $175 billion. The shares have fallen sharply from a high of roughly $200 in early 2021, and hit a 52-week low of $84.07 on Dec. 28. The shares closed Wednesday at $96.33."
"Trian, like other activists, is known for encouraging changes at the companies it targets, such as the breakup or sale of underperforming divisions or moves to improve efficiency and better use capital. It often seeks board representation and tries to avoid public spats, unlike some of its more pugnacious rivals.
Trian’s proxy battle at Disney will represent the fourth such clash in the investment firm’s history.
The firm is accustomed to hunting large prey, having targeted companies including Procter & Gamble Co., DuPont Co. and General Electric Co.
Mr. Peltz has previously served on the board of other consumer-facing companies including Oreos maker Mondelez International Inc., Kraft Heinz Co. and, more recently, Unilever PLC, the maker of Dove soap and Hellmann’s mayonnaise."
Full article -
Nelson Peltz Plans Proxy Fight Against Disney
Trian Fund Management plans to mount a proxy fight for a seat on Walt Disney’s board, adding to the challenges for CEO Robert Iger.
Most serious threat to Disney in quite awhile…more than the Comcast nonsense of 2003/04.
Sirwalterraleigh
Premium Member
The problem is his corporate raider hedge fund could buy millions in a week…
If he gets vanguard…or the California pension fund on his side?
It’s over…for Bob and maybe for P&R
Bright side: maybe they sell LFL to a fan?
Sirwalterraleigh
Premium Member
Look up Ike’s Bio and then see what circles/shenanigans he’s been running with the last 6 or so years?
…yeah…not a “match” at all to Disney fans
Sirwalterraleigh
Premium Member
Tha Realest
Well-Known Member
Oh I’m aware of that too but trying not to get into that. I can’t imagine Disney’s MVP in the Marvel slate will be happy to see the further ascendancy of Ike P