Disney's parks are its top money maker — and it plans to spend $60 billion to keep it that way
Three years ago, Josh D'Amaro stood in a nearly empty Disneyland.
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Three years ago, Josh D'Amaro stood in a nearly empty Disneyland.
Nelson Peltz's proxy battle was a "distraction" and Disney can now focus on trying to turn a streaming profit and planning its succession, its CEO Bob Iger said on CNBC's "Squawk on the Street" on Thursday, just one day after handing a stinging defeat to the activist investor.
In 2015, Nelson Peltz's Trian Partners was defeated in an activist campaign against chemical firm DuPont, largely because the top three institutional shareholders voted against his slate. Nearly a decade later, those same institutional investors — Vanguard, State Street and BlackRock — are the three largest shareholders in Disney. And they could make or break Peltz's campaign against the board that's backing Disney CEO Bob Iger.
Activist investor Blackwells said Monday that Disney's board had not disclosed that shareholder ValueAct Capital had a financial relationship with the entertainment company, putting the firm's endorsement of Disney's board under scrutiny.
Activist investor Nelson Peltz is stating his case for joining Disney's board.