Disney Faces Activist Investor Nelson Peltz's Board Seat Demands

Disney and Trian Fund Management engaged in a war of statements after activist investor Nelson Peltz was denied board seats by the entertainment giant. Trian intends to take its case directly to Disney shareholders, citing a loss of $70 billion in shareholder value and underperformance compared to peers. Disney defended its new board members and highlighted its efforts to provide long-term shareholder value, undergo major changes, and generate profitability through streaming services and digital transformation. The company reported revenue growth in its Experiences segment and aims to cut costs by $7.5 billion.