tldrdaily.news logo
Tag

Walt Disney Co

All articles tagged with #walt disney co

business1 year ago

"Powell Signals Potential Rate Cuts as Stocks Hold Gains"

Walt Disney Co. is set to announce the results of a critical shareholder vote at its annual meeting, with activist investor Nelson Peltz seeking a board shake-up. Despite securing support from influential proxy advisory firm ISS, Peltz is expected to be defeated, with major institutional investors like Vanguard and BlackRock backing the existing board. Disney has been making significant changes to address challenges in the streaming industry and succession questions, leading to a 35% stock increase this year.

via Yahoo Finance|
#board-shake-up#business#nelson-peltz
business2 years ago

Bob Iger's Vision for Disney: Building a Modern Company

Walt Disney Co. CEO Bob Iger addressed employees at a town hall meeting, acknowledging that his second term as CEO has been more challenging than expected but expressing optimism about the company's future. Iger highlighted the completion of a period of fixing and the start of a new phase of building. He discussed the company's cost-cutting initiatives, restructuring, and plans for linear TV assets. Iger also emphasized the importance of migrating businesses onto new models and turning ESPN into a leading digital sports platform. Additionally, he mentioned the company's $60 billion investment in parks and the excitement for future growth.

via Hollywood Reporter|
#bob-iger#business#disney
business2 years ago

Disney's Building Phase: Mixed Earnings, Cost-Cutting, and Streaming Success

The Walt Disney Co. is entering a new phase under CEO Bob Iger's leadership after completing its restructuring efforts. The company reported revenue of $21.2 billion in its fiscal fourth-quarter, slightly missing estimates but showing growth from last year. Disney+ added 7 million subscribers, bringing the total to over 150 million. The company's new financial reporting structure separates ESPN's finances from the rest of its linear and streaming offerings. Revenues in entertainment were $9.5 billion, with direct-to-consumer contributing over $5 billion. ESPN's revenue rose slightly to $3.8 billion, while parks and experiences saw a 13% increase in revenue. Disney also reported over $1 billion in restructuring and impairment charges.

via Hollywood Reporter|
#bob-iger#business#financial-performance
business2 years ago

Disney Taps PepsiCo Executive Hugh Johnston as New CFO

The Walt Disney Co. has appointed Hugh Johnston, currently the vice chairman and CFO of PepsiCo, as its new senior executive VP and CFO. Johnston will succeed Christine McCarthy and will play a critical role as a deputy to CEO Bob Iger. He joins Disney at a crucial time as the company undergoes a transformation, including the acquisition of the remaining stake in Hulu from Comcast and a possible proxy battle with activist investor Nelson Peltz. Johnston's appointment raises speculation about his potential as a successor to Iger.

via Hollywood Reporter|
#bob-iger#business#cfo
entertainment2 years ago

'Good Morning America' Relocates from Times Square Studio

Good Morning America is leaving its iconic Times Square studio in New York City and relocating to a new Walt Disney Co. building in Hudson Square. The move, planned for 2025, is aimed at fostering more collaboration and innovation within ABC News. Despite the change in location, the network will continue to use New York City as a set for the broadcast and reporting. The new Disney headquarters will be a 1.2 million square feet complex with offices and production facilities. GMA's move comes as morning show studios compete fiercely for viewership, with Today and CBS Mornings as its main rivals.

via Deadline|
#entertainment#good-morning-america#hudson-square
business2 years ago

Nelson Peltz Aims for Disney Board Seats in Renewed Push

Activist investor Nelson Peltz has acquired a $2.5 billion stake in Walt Disney Co. and is planning to renew his efforts to secure board seats. Peltz's Trian Fund Management is responding to the decline in Disney's stock, which has dropped approximately 16% this year. In January, Peltz criticized Disney's management and stock performance, but withdrew his bid for a board seat after Disney announced operational restructuring. Peltz's decision to revive his campaign comes as he has increased his stake in Disney. The company has faced challenges due to the shift from linear to streaming platforms and recent strikes by industry unions.

via Variety|
#activist-investor#board-seats#business
business2 years ago

Byron Allen's $10 Billion Bid Shakes Up Disney's ABC Network

Byron Allen has submitted a $10 billion offer to Walt Disney Co. to acquire its ABC TV network, local stations, as well as the FX and National Geographic cable channels. The offer is preliminary and could change based on the properties' earnings. Allen would work with banks and private equity firms to finance the acquisition and may sell his existing local TV stations to avoid friction with other networks. Disney has stated that while it's considering strategic options for its traditional TV networks, no decisions about a sale have been made.

via Yahoo Finance|
#abc-tv-network#business#byron-allen
business2 years ago

Wall Street's Verdict: Disney Triumphs over Charter Spectrum

The Walt Disney Co. and Charter Communications have reached a new carriage agreement, ending a blackout for millions of pay TV customers. Analysts have weighed in on the deal, with some seeing it as a win for both companies. Disney gains new distribution of Disney+ with ads to a majority of Charter pay TV subscribers, potentially generating additional revenue of around $400-500 million annually. ESPN will also see a gain in its viewer base, and the upcoming ESPN streaming service will have a built-in starting point on subs from Charter. Charter, on the other hand, will have access to Disney's streaming services for its broadband customers and will not have to carry certain Disney networks anymore. The deal is seen as a step towards a fully streaming future, but it remains to be seen how it will impact future carriage deals and the broader entertainment industry.

via Hollywood Reporter|
#business#carriage-agreement#charter-communications
business2 years ago

Disney's Stock Price Target Slashed by Wells Fargo Analyst, Signals Strategic Shift

Wells Fargo analyst Steven Cahall has cut his stock price target on the Walt Disney Co. by over $30, but maintains an "overweight" rating, citing the company's long-term upside potential. Cahall highlighted concerns over Disney's lack of recent content successes and potential challenges in the transition to streaming. However, he also emphasized Disney's strong IP library, the potential for price hikes on Disney+, and the positive impact of the planned sale of linear TV assets. Cahall believes that the recent carriage dispute with Charter Communications is not as significant as some believe and expects Disney to launch an ESPN streaming service in early fiscal year 2025. Overall, he sees the longer-term direct-to-consumer earnings and margins story as the key reason to own Disney stock.

via Hollywood Reporter|
#business#content#espn
politics2 years ago

"DeSantis and Disney Lawsuit: Election Timing and Feud Explained"

Attorneys for The Walt Disney Co. and Florida Governor Ron DeSantis are proposing different timelines for a federal trial over Disney's claim of retaliation by DeSantis. Disney wants the trial to start on July 15, 2023, while DeSantis' attorneys want it postponed until after the 2024 presidential election. Disney sued DeSantis in April, alleging that he violated their First Amendment rights by attempting to strip the company of control over a special district. DeSantis and other defendants are seeking to delay the discovery process until motions to dismiss the case are ruled upon.

via Deadline|
#first-amendment#lawsuit#politics
business2 years ago

Disney CFO Christine McCarthy to Depart Company

Walt Disney Co. CFO Christine McCarthy is stepping down from her role to take a family medical leave of absence, with veteran Disney executive Kevin Lansberry serving as Interim CFO. The company will begin an “internal and external” search for a permanent CFO, with McCarthy agreeing to serve as a “strategic advisor” during her leave, helping to onboard whomever her successor is. McCarthy joined the company in 2000 as its treasurer, being named to the CFO role in 2015.

via Hollywood Reporter|
#business#cfo#christine-mccarthy
politics2 years ago

California Governor Gavin Newsom attends Disneyland's Pride event amidst controversy.

California Gov. Gavin Newsom attended Disneyland’s first-ever After Dark Pride event amid the entertainment giant’s public feud with Florida governor Ron DeSantis. The feud began when the Walt Disney Co. spoke out against the then so-called “Don’t Say Gay” bill, which DeSantis supported. DeSantis responded by announcing plans to dissolve the Reedy Creek Improvement District, an area that houses the Walt Disney World Resort. In February, DeSantis signed a law that let the state of Florida take over the district. Walt Disney Co sued DeSantis in April, alleging that the governor “waged a relentless campaign to weaponize government power against the company” after Disney didn’t support the then controversial school bill.

via KTLA Los Angeles|
#disneyland#gavin-newsom#lawsuit
travel2 years ago

"California Residents Get Exclusive Summer 2023 Ticket Offer at Disneyland Resort"

Disneyland Resort is offering a summer ticket deal for California residents, with prices starting at $83 per person, per day. The offer is valid from June 12 through Sept. 28, 2023, and includes three-day, 1-park per day tickets starting at $249 for admission Monday through Thursday, or $299 for admission any day, including weekends. Theme park reservation availability is not guaranteed.

via KABC-TV|
#california-residents#disneyland#summer-ticket-offer