ValueAct Capital Management to support Disney’s board nominees
- Disney enters information-sharing agreement with activist investor ValueAct Capital Management
- ValueAct to support Disney’s board nominees at 2024 annual meeting
- Proxy battle with Nelson Peltz’s firm Trian continues
- Activist hedge fund Blackwells Capital plans to nominate three members to the board
- Disney struggling to become more profitable after investing in Disney+ and dealing with Covid-19 impact
- Disney shares up 0.3% in premarket trading
Disney has entered into an information-sharing agreement with activist investor ValueAct Capital Management as it continues to face a proxy battle with Nelson Peltz’s firm Trian. ValueAct will support Disney’s board nominees at the company’s 2024 annual meeting. This move comes as Disney CEO Bob Iger battles with Peltz, who has nominated himself and another member of his firm to the board. Separately, activist hedge fund Blackwells Capital plans to nominate three members to the board. Disney is currently struggling to become more profitable after investing heavily in its streaming platform, Disney+, and dealing with the impact of Covid-19 on its theme park business. Despite recent gains in its share price, Disney shares remain lower than a year ago. ValueAct has a track record of helping companies manage significant transitions, including Spotify, New York Times, Microsoft, and Salesforce.
Public Companies: Disney (DIS), Comcast (CMCSA), Warner Bros. Discovery (DISCA)
Private Companies: Trian, ValueAct Capital Management, Blackwells Capital
Key People: Nelson Peltz (Chief Executive Officer of Trian), Bob Iger (CEO of Disney)
Factuality Level: 7
Justification: The article provides information about Disney’s new tactic to bolster its share price and the proxy battle with Nelson Peltz. It mentions the information-sharing agreement with ValueAct Capital Management and their support for Disney’s board nominees. It also mentions the nomination of members by activist hedge fund Blackwells Capital. The article includes information about Disney’s struggles with profitability, its investments in Disney+, and its efforts to revive its theme park business. The article provides some context and quotes from Nelson Peltz and mentions the rise in Disney’s shares. Overall, the article provides factual information, but it could benefit from more details and analysis.
Noise Level: 3
Justification: The article provides relevant information about Disney’s proxy battle with Nelson Peltz and the involvement of ValueAct Capital Management. It mentions the struggles Disney is facing with its streaming platform and theme park business. However, the article lacks in-depth analysis, evidence, and actionable insights. It also includes filler content about text-to-speech technology and unrelated information about other media corporations.
Financial Relevance: Yes
Financial Markets Impacted: Disney, ValueAct Capital Management, Nelson Peltz’s firm Trian, Blackwells Capital
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses a proxy battle between Disney and Nelson Peltz’s firm Trian, which has financial implications for Disney and the involved investors. However, there is no mention of an extreme event.
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