News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026

[HauntedPirate]

I foresee a lecture about market forces, comparisons to competitors, and mercury in retrograde in your future.

I’m sure Taylor Swift and summer heat bear some responsibility, as well.

 

[Sirwalterraleigh]

Stellar stock performance since Bob's rout of the evil Peltz! $122.82/share at the close of markets on April 2, and today it's currently $113.53/share. I'm surprised he hasn't been given another 2 year contract extension and bonus stock options.

Wha?

You mean the benevolent, noble traders on Wall Street might have been pumping it to exploit the turmoil?

No…that just cannot be…

 

[Sirwalterraleigh]

I am being told that the term Activations was deemed cringe after the scandalous Zach Creations Floor tile Conundrum of 2022.

I hear they’re gonna have Robert loggia and Tom hanks holograms play heart and soul on those with damaro at D23

 

[Sirwalterraleigh]

I’m sure Taylor Swift and summer heat bear some responsibility, as well.

…gonna be a sweaty one out there in the empty parks today

 

[monothingie]

…gonna be a sweaty one out there in the empty parks today

Grab a $5.50 Bottle of filtered tap water to cool off.

 

[monothingie]

Stellar stock performance since Bob's rout of the evil Peltz! $122.82/share at the close of markets on April 2, and today it's currently $113.53/share. I'm surprised he hasn't been given another 2 year contract extension and bonus stock options.

Down about 9% from its pre-annual shareholder meeting.

 

[HauntedPirate]

Down about 9% from its pre-annual shareholder meeting.

Bob: "I know what will fix everything - Move the next shareholder meeting time to first thing in the morning. And make sure I get to emphasize how well DTC is doing. Because I'm a creative and visionary genius! Now, when am I going to get that lifetime contract?"

 

[Sirwalterraleigh]

Down about 9% from its pre-annual shareholder meeting.

…anyone surprised by this haven’t been watching closely enough

 

[monothingie]

…anyone surprised by this haven’t been watching closely enough

But D+ will be declared "profitable" at the next Q's earnings report!

 

[Sirwalterraleigh]

But D+ will be declared "profitable" at the next Q's earnings report!

I’m having DoorDash delivery a really spensive espresso that morning to listen to it bright and early ️

 

[MisterPenguin]

Peltz had no business getting 30% of the vote. It's an indictment on Iger and his board's leadership in recent years that Peltz would even broach 10%, let alone nearly a third. Hardly a "blowout win."

Thank you for letting us know how wrong a Hollywood trade magazine is!!

 

[Casper Gutman]

Thank you for letting us know how wrong a Hollywood trade magazine is!!

Come on, Penguin, let them have their fun while everyone else moves on.

 

[James Alucobond]

Come on, Penguin, let them have their fun while everyone else moves on.

I was promised gloating from the anti-Peltz faction but found only endless self-indulgent wallowing from those who wanted to defenestrate Iger at any cost.

 

[Casper Gutman]

I was promised gloating from the anti-Peltz faction but found only endless self-indulgent wallowing from those who wanted to defenestrate Iger at any cost.

Turns out the anti-Peltz crowd did exactly what they said they would - they went back to criticizing Iger and skeptically discussing potential expansion plans.

 

[Sirwalterraleigh]

I was promised gloating from the anti-Peltz faction but found only endless self-indulgent wallowing from those who wanted to defenestrate Iger at any cost.

Turns out the anti-Peltz crowd did exactly what they said they would - they went back to criticizing Iger and skeptically discussing potential expansion plans.

What are you two enlightened Renaissance men carrying on about?

 

[JoeCamel]

defenestrate

They wanted to throw Bob out the window?

 

[Sirwalterraleigh]

They wanted to throw Bob out the window?

I’ve got a boot ready for the kick

 

[DCBaker]

Reuters reports Disney and Comcast are now in talks to hire an investment bank that will independently value Hulu.

NEW YORK, May 6 (Reuters) - Walt Disney (DIS.N),and Comcast (CMCSA.O), are seeking to hire a financial adviser to resolve a dispute over how to value the 33% stake in streaming platform Hulu that the former will acquire from the latter, according to people familiar with the matter.

The move is in accordance with a deal the companies struck for Hulu last year. It is an action their contract foresees if JPMorgan Chase (JPM.N), which provided a fairness opinion on Hulu for Disney, and Morgan Stanley, which provided such an opinion for Comcast, are too far apart in their valuation assessments.

JPMorgan has valued Hulu for Disney at close to $27.5 billion, which is the floor valuation for Hulu that the companies had set as part of their 2019 "put-call" agreement, one of the sources said. Morgan Stanley valued Hulu for Comcast at more than $40 billion, another source said.

Disney and Comcast are now in talks to hire an investment bank that will independently value Hulu, the sources said, requesting anonymity because the matter is confidential.

Hulu, which boasts popular original titles such as "Shogun", "The Bear", "Prey", and "Only Murders in the Building", had 49.7 million subscribers at the end of Dec 2023, representing a growth of 2% from the September quarter.

In remarks at a Goldman Sachs conference last year, Comcast CEO Brian Roberts called Hulu a "scarce kingmaker asset" that is "way more valuable today" than when the deal was initially struck.

Disney has already completed the addition of Hulu to its Disney+ streaming service, which is home to titles such as "Moana" and "Frozen."

In regulatory filings last year, Disney and Comcast had outlined that if the valuation reached by their two banks were within 10% of each other, a deal will be consummated at a valuation that is the average of the two appraisals.

Since the two appraisals are more than 10% apart, Comcast and Disney are jointly in talks to pick a third bank to do an independent appraisal, the sources said.

As per the terms of the agreement, if the third appraisal is closest to the valuation of that produced by Disney's bank, the average of those two valuations will be the value at which the deal gets done.

Similarly, if the third appraisal is closest to the valuation of that produced by Comcast's bank, the average of those two valuations is the value at which the deal gets done.

If the average of the third appraisal is below $27.5 billion, the final valuation will be $27.5 billion.

In 2019, Disney and Comcast signed an agreement for Hulu with an option strike date of January 2024, after Disney's $71 billion takeover of Fox's assets, including its minority stake in Hulu. The deal gave Disney majority control over Hulu as it already owned a 33% stake in the streaming service. Comcast retained its stake in Hulu at the time believing that its value would increase significantly by 2024.

In November last year, Disney agreed to take full control of Hulu and pay Comcast at least $8.6 billion for the remaining 33% stake, after Comcast triggered the deal as part of the 2019 agreement.

https://www.reuters.com/business/media-telecom/disney-comcast-seek-advisor-resolve-hulu-valuation-sources-say-2024-05-06/

 

[ToTBellHop]

Reuters reports Disney and Comcast are now in talks to hire an investment bank that will independently value Hulu.

https://www.reuters.com/business/media-telecom/disney-comcast-seek-advisor-resolve-hulu-valuation-sources-say-2024-05-06/

I’d be happy to independently value it for them and I only cost $50.

 

[MisterPenguin]

Reuters reports Disney and Comcast are now in talks to hire an investment bank that will independently value Hulu.

https://www.reuters.com/business/media-telecom/disney-comcast-seek-advisor-resolve-hulu-valuation-sources-say-2024-05-06/

The difference between the two valuations is about $12B. So, even using the highest valuation, Disney would be on the hook for paying Comcast another $3B. It could also mean nothing more if the third valuation was at the minimum.