Notes from Neverland
Well-Known Member
Not sure how Disney could be caught by surprise by Peltz, or really anyone, trying to make a move. The stock price has continued to drop since Peltz last tried, and the promised dividend still hasn't returned.
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News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026
- Thread starter DCBaker
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flynnibus
Premium Member
uhh.. it's time to return hasn't come yet. This isn't something you drop on a random tuesday. When Q4 results are posted, then someone can have that conversation.
In short, the story is, "Nelson Peltz Tilts At Windmills-Still Has Same Delusion."
Peltz has no more standing than he did at first, especially if he still is serving Ike Perlmutter's behalf. Adding Perlmutter to the board would ruin things, because he'd do nothing but be a real-life Scrooge McDuck at the company and get pay that dwarfs Iger's...especially if he tries to oust Iger as CEO and take the job himself.
Iger is doing great things and people simply don't have the patience to let multi-year plans work out. Greedy vultures, the lot of them. Only wanting a short-term payout and not willing to see where long-term infrastructure work leads. Disney stock is horribly undervalued, especially with 10 percent of the shares being owned by shorts and working to deliberately drive the price down artificially. The price would be $115 if not for the shorts.
By the way, Nelson, Disney didn't overpay, Murdoch refused to be prudent and close off Comcast. For all those who say "If Murdoch didn't entertain Comcast, he'd be open to a shareholder lawsuit," let's be real here. Murdoch has run his empire like a god. If Rupert says jump, everyone says how high. He could easily get away with a lower bid and sell it by just straight up telling them, "You can't touch me. I'm Rupert Murdoch, deal with it!"
So when will the plans he started in early 2007 finally work out? You know, the ones where he criminally underfunds the parks for a decade then agrees to spend some money on them and everyone forks over their 401k accounts to him in homage of his genius. Asking for a friend.
What about a random Thursday? Or maybe a Friday afternoon sometime? I'm flexible.
You know I'm talking about the current multi-year effort since returning to the company.
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Tha Realest
Well-Known Member
Peltz stood down in early February, and his two biggest issues were the lack of a dividend and the lack of a succession plan.
It’s now October and no clear movement on either of those things almost a year into Igers new term.
Stripes
Premium Member
The company stated an intent to reinstate a small dividend by the end of this year. That time has not come and gone.
And succession in not imminent with Iger extending his contract. A number of Disney executives are developing themselves for the job.
Investors don’t seem to listen to the company anymore. When the company establishes a timeline and sticks to it they get punished for not moving the timeline up. Just like when the stock was getting pummeled for Disney+ losses. The company was upfront with investors that Disney Plus would lose billions until FY2024 in their 2019 Investor Day. Looking at the trajectory, that estimate appears likely to come to fruition.
Furthermore, Disney is in a business where things don’t turn on a dime. Projects are developed over several years. Not much can be changed in a year’s time.
Dranth
Well-Known Member
They already announced the rerun of the dividend starting January 2024 so they at least addressed half his concerns.
flynnibus
Premium Member
Disney has already signaled the intent to return to the annual dividend by the end of the year in the Q1 earnings call. Here amateurs are bemoaning Disney not actually announcing a dividend yet. They want something outside of an earnings call which isn't going to happen.
Returning to the dividend is something they would do along with the final quarter of the year given the significant signal it plays into the fiscal results. Nevermind we are just 2 weeks away from the legally mandated quiet period due to the earnings call.
This is like people complaining Disney isn't telling anyone their D+ subscriber count yet... of course they aren't going to do that NOW - they will do it during the earnings call. It was always clear the target for the ANNUAL dividend would be the end of the FY because it's also the target for the big moving pieces like D+. Here people are just crying because they haven't gotten it NOW when it never was going to be before the Q4 earnings call in the first place.
And Peltz was fighting for seats, not specifically crying over Iger's lack of published succession map.
orky8
Well-Known Member
Seriously? Disney didn’t overpay, just Murdoch overcharged…. Ok…. Comcast has been outmaneuvering Iger for years and Iger’s ego as dealmaker couldn’t walk away from the not so subtly laid trap.
ABQ
Well-Known Member
If increasing his funds investment in DIS stock by 30 million shares is doing nothing, then please, throw some nothing my way, I could use a few shares even at 80 dollars per.
Stripes
Premium Member
“Outmaneuvering?”
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Sky spinoff is Comcastâs least-bad option
Brian Roberts is a buyer rather than a seller. The boss of U.S. media giant Comcast may want to make an exception for Sky. Four years after he won the auction for the European pay-TV provider with a $40 billion bid, the logic of the deal remains fuzzy while consumers are under duress. Spinning...
www.reuters.com
There was no trap. What are you saying Iger should've done? Just give up and let Comcast have Fox? Those assets would not have fit Comcast, and they would've immediately scrapped 90 percent of the projects there, especially closing off any hope of Neill Blomkamp's Alien film. With Disney, there would be a fighting chance. That's why it had to be done. Because Disney was a better fit, these films had more of a chance, and we could get the Alien movie we deserve.
Tha Realest
Well-Known Member
Seriously? The acquisition was worth it because of the hopes of a Neil Blomkamp Alien film?
Even Ridley Scott could only manage to make one watchable sequel to this franchise, and Blomkamp’s movies since District 9 haven’t been that well received.
It's not the only reason. But let's also be real. Fox did not fit Comcast in any way, and they would've basically shut it all down to fold it into Universal. Disney was Fox's best chance in synergy and being able to maintain operations. Not to mention, Comcast has the greater danger because of how a cable company controls what goes out on news via NBC and MSNBC, in terms of stifling net neutrality. Comcast should be allowed more control. Disney was certainly the better choice compared to that.
Besides, everyone wants the true followup to Aliens that we deserve, something that would do justice to Ripley, Hicks and Newt, as well as help bridge the gap with Prometheus. Blomkamp was in a great position to do that, had Fox not decided to jerk everyone around the way they did in 2015. Disney provided a real shot to get that back off the ground.
“Outmaneuvering?”
Sky spinoff is Comcastâs least-bad option
Brian Roberts is a buyer rather than a seller. The boss of U.S. media giant Comcast may want to make an exception for Sky. Four years after he won the auction for the European pay-TV provider with a $40 billion bid, the logic of the deal remains fuzzy while consumers are under duress. Spinning...
Indeed.
1. Comcast bid up Fox so Disney has to pay more.
2. Disney then owns Fox which owns a big chunk of Sky.
3. Comcast tries to buy Sky, but Disney bids it up so Comcast has to pay more.
4. Disney/Fox sells off it's share of Sky to Comcast at an inflated price.
Oh, the maneuverings!
at the end of the day, i think we can all agree it’s great rupert murdoch got to make a lot of money.
JoeCamel
Well-Known Member
Yep, he's got judgements to pay