Ever since the Disney and Marvel Studios’ merger, the new studio has seen some of the best as well as some of the worst days. There was a time when everything with the Marvel stamp on it was selling like hotcakes, and Disney was busy milking the cash cow with multiple releases every year.
The Marvel Cinematic Universe
However, the excess pressure on the MCU and its branches led to a decline in quality, and slowly but surely the viewers caught on it. After facing several box office disasters, Disney+MCU is taking a new approach, trying to bring back quality to the once beloved franchise.
However, a recent statement from Disney CEO Bob Iger is going to upset a lot of die-hard fans, who’ve been following the franchise from its earliest days.
Disney is going to decrease MCU’s output Bob Iger on Jimmy Kimmel Live!
The continuous...
The Marvel Cinematic Universe
However, the excess pressure on the MCU and its branches led to a decline in quality, and slowly but surely the viewers caught on it. After facing several box office disasters, Disney+MCU is taking a new approach, trying to bring back quality to the once beloved franchise.
However, a recent statement from Disney CEO Bob Iger is going to upset a lot of die-hard fans, who’ve been following the franchise from its earliest days.
Disney is going to decrease MCU’s output Bob Iger on Jimmy Kimmel Live!
The continuous...
- 5/7/2024
- by Sayantan Choudhary
- FandomWire
Disney started with over $116 a share ahead of its earnings call, but that quickly ended as the stock price plummeted $11 per share due to reports of a weak Q3.
The Q2 earnings were mostly positive, with gains made in streaming and improving ESPN+ losses. Most of their goals were met or exceeded.
So why did the stock plummet?
One reason could be that Disney CEO Bob Iger and senior executive VP and CFO Hugh Johnston kept reporting that they expect those gains to go away during Q3.
Several times during the investment call, they mentioned that they expect the third quarter to see a decline due to various factors, including higher wages, pre-opening costs related to Disney Cruise Lines’s upcoming Disney Adventure and Disney Treasure ships, and their new Lookout Cay island. During the call it was also mentioned that there was a “one-time” payout coming, but they didn’t explain what that was.
The Q2 earnings were mostly positive, with gains made in streaming and improving ESPN+ losses. Most of their goals were met or exceeded.
So why did the stock plummet?
One reason could be that Disney CEO Bob Iger and senior executive VP and CFO Hugh Johnston kept reporting that they expect those gains to go away during Q3.
Several times during the investment call, they mentioned that they expect the third quarter to see a decline due to various factors, including higher wages, pre-opening costs related to Disney Cruise Lines’s upcoming Disney Adventure and Disney Treasure ships, and their new Lookout Cay island. During the call it was also mentioned that there was a “one-time” payout coming, but they didn’t explain what that was.
- 5/7/2024
- by Kambrea Pratt
- Pirates & Princesses
Marvel Studios and the Marvel Cinematic Universe isn’t what it used to be anymore. From failing movies to cringe scenes (just look at Thor: Love and Thunder), the MCU is suffering through the effects of post-Endgame clarity.
Disney’s current CEO, Bob Iger, recently unveiled a new plan for the Marvel Cinematic Universe which seems good (at first). However, it is the majority opinion of the people that this new plan isn’t going to work.
Brie Larson and Teyonah Parris in The Marvels
Marvel Studios Isn’t What It Used To Be
Maybe it is a bold statement, or a rude one, but all things considered, there is quite a noticeable difference observed in the MCU before Avengers: Endgame and the MCU today. Releasing movies like selling cotton candies at a fair, the MCU simply had a lot on its plate (not even counting the TV shows).
Bob...
Disney’s current CEO, Bob Iger, recently unveiled a new plan for the Marvel Cinematic Universe which seems good (at first). However, it is the majority opinion of the people that this new plan isn’t going to work.
Brie Larson and Teyonah Parris in The Marvels
Marvel Studios Isn’t What It Used To Be
Maybe it is a bold statement, or a rude one, but all things considered, there is quite a noticeable difference observed in the MCU before Avengers: Endgame and the MCU today. Releasing movies like selling cotton candies at a fair, the MCU simply had a lot on its plate (not even counting the TV shows).
Bob...
- 5/7/2024
- by Visarg Acharya
- FandomWire
Disney’s two entertainment streamers hit the profitability milestone a full two quarters earlier than expected.
There have been a lot more hits than misses for Disney CEO Bob Iger recently. Iger is fresh off a big win in a proxy fight initiated by activist investor Nelson Peltz, and this week he gets to announce to the world that his entertainment streaming services Disney+ and Hulu have finally achieved a goal that Iger has been pushing them toward since he rejoined the company in 2022: profitability. Disney’s streamers aren’t completely out of the woods in terms of generating a steady profit yet, but they have vindicated Iger’s strategy for them since he returned to the chairman seat 18 months ago.
Key Details: Disney+ and Hulu combined to show a profit of $47 million in the most recent quarter. ESPN+ lost $65 million but improved its losses from the year-ago quarter.
There have been a lot more hits than misses for Disney CEO Bob Iger recently. Iger is fresh off a big win in a proxy fight initiated by activist investor Nelson Peltz, and this week he gets to announce to the world that his entertainment streaming services Disney+ and Hulu have finally achieved a goal that Iger has been pushing them toward since he rejoined the company in 2022: profitability. Disney’s streamers aren’t completely out of the woods in terms of generating a steady profit yet, but they have vindicated Iger’s strategy for them since he returned to the chairman seat 18 months ago.
Key Details: Disney+ and Hulu combined to show a profit of $47 million in the most recent quarter. ESPN+ lost $65 million but improved its losses from the year-ago quarter.
- 5/7/2024
- by David Satin
- The Streamable
Disney topped Wall Street forecasts for its fiscal second quarter and inched closer to the long-awaited milestone of streaming profitability.
Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period, the company reported Tuesday. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02.
The entertainment direct-to-consumer operation, consisting of Disney+ and Hulu, finished the quarter in the black ahead of schedule with operating income of $47 million. The two had a loss of $587 million in the same period of 2023.
ESPN+ reported a loss of $18 million, which was considerably narrower than the year-ago loss of $659 million.
Related: ESPN Programming Coming To Disney+ By Year-End; Bob Iger Calls It “First Step” Toward Flagship Sports Launch In 2025
The company said it still expects its combined streaming businesses to be profitable by the fiscal fourth quarter,...
Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period, the company reported Tuesday. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02.
The entertainment direct-to-consumer operation, consisting of Disney+ and Hulu, finished the quarter in the black ahead of schedule with operating income of $47 million. The two had a loss of $587 million in the same period of 2023.
ESPN+ reported a loss of $18 million, which was considerably narrower than the year-ago loss of $659 million.
Related: ESPN Programming Coming To Disney+ By Year-End; Bob Iger Calls It “First Step” Toward Flagship Sports Launch In 2025
The company said it still expects its combined streaming businesses to be profitable by the fiscal fourth quarter,...
- 5/7/2024
- by Dade Hayes
- Deadline Film + TV
Disney’s entertainment streaming segment, anchored by Disney+, scored its first profitable quarter, helping to partially offset continued weakness in the media conglomerate’s linear TV business for the first three months of 2024.
To be sure, Disney’s overall streaming business was still in the red for the quarter when factoring in ESPN+, which had an operating loss of $65 million. The company reiterated its expectation that its combined streaming operations will achieve profitability in the September 2024 quarter.
Overall, Disney revenue for the quarter ended March 30 was in line with Wall Street expectations, while it beat on adjusted earnings per share. The Mouse House’s results got their biggest lift from the theme parks division, where revenue rose 10% and operating income was up 14%. Disney’s theatrical revenue dropped year over year “as there were no significant titles released” in the quarter, and revenue in the linear networks segment declined 8%.
See Also:...
To be sure, Disney’s overall streaming business was still in the red for the quarter when factoring in ESPN+, which had an operating loss of $65 million. The company reiterated its expectation that its combined streaming operations will achieve profitability in the September 2024 quarter.
Overall, Disney revenue for the quarter ended March 30 was in line with Wall Street expectations, while it beat on adjusted earnings per share. The Mouse House’s results got their biggest lift from the theme parks division, where revenue rose 10% and operating income was up 14%. Disney’s theatrical revenue dropped year over year “as there were no significant titles released” in the quarter, and revenue in the linear networks segment declined 8%.
See Also:...
- 5/7/2024
- by Todd Spangler
- Variety Film + TV
With major franchises such as Marvel, Star Wars, and Pixar under its roof, Disney typically finds itself on the top of the box-office heap, but that wasn’t the case last year. The company had more than a few failures which found its fortunes falling, and Deadline reports that four of the five biggest box-office bombs of 2023 belonged to Disney.
First up, and least surprising, is The Marvels, the Captain Marvel sequel starring Brie Larson, Iman Vellani, and Teyonah Parris. As its predecessor grossed $1.1 billion, it was hoped that the sequel would equal that number, but the film turned out to be a bomb of epic proportions, grossing just $206 million worldwide. The film reportedly found Disney taking a loss of $237 million. Yikes.
Related Disney investor-turned-foe Nelson Peltz questions Marvel’s recent strategy
Next up, and the one that hurts the most, is Indiana Jones and the Dial of Destiny. Fans...
First up, and least surprising, is The Marvels, the Captain Marvel sequel starring Brie Larson, Iman Vellani, and Teyonah Parris. As its predecessor grossed $1.1 billion, it was hoped that the sequel would equal that number, but the film turned out to be a bomb of epic proportions, grossing just $206 million worldwide. The film reportedly found Disney taking a loss of $237 million. Yikes.
Related Disney investor-turned-foe Nelson Peltz questions Marvel’s recent strategy
Next up, and the one that hurts the most, is Indiana Jones and the Dial of Destiny. Fans...
- 5/3/2024
- by Kevin Fraser
- JoBlo.com
Ryan Coogler, the acclaimed director of the Marvel film Black Panther, became embroiled in a real-life drama when he was wrongfully detained after being mistaken for a bank robber in Atlanta. The unfortunate incident occurred in 2022.
According to a police report obtained by TMZ, it all started when Coogler—who is well-known for his visionary work on movies like Fruitvale Station and Creed—strolled into his bank wearing sunglasses and a face mask and slipped the bank teller a note with written instructions on it.
Chadwick Boseman in Ryan Coogler’s Black Panther
Misinterpreting the situation, the teller believed it to be a bank robbery. The seniors were informed, and they promptly contacted the police, and Google was hudcuffed. Only when it became clear what was really going on, that he was eventually freed.
The Case of Mistaken Identity: Ryan Coogler’s Encounter as a Bank Robber
Ryan Coogler was...
According to a police report obtained by TMZ, it all started when Coogler—who is well-known for his visionary work on movies like Fruitvale Station and Creed—strolled into his bank wearing sunglasses and a face mask and slipped the bank teller a note with written instructions on it.
Chadwick Boseman in Ryan Coogler’s Black Panther
Misinterpreting the situation, the teller believed it to be a bank robbery. The seniors were informed, and they promptly contacted the police, and Google was hudcuffed. Only when it became clear what was really going on, that he was eventually freed.
The Case of Mistaken Identity: Ryan Coogler’s Encounter as a Bank Robber
Ryan Coogler was...
- 4/20/2024
- by Siddhika Prajapati
- FandomWire
The final voting results for the April 3, 2024, Walt Disney Company board during the proxy battle have been submitted to the SEC. These are the certified results from the independent auditor, First Coast Results, Inc. We can see just how many votes each candidate received.
Trian Partners Nelson Peltz received 370,974,890 votes for his nomination with 819,744,149 votes to withhold. James Rasulo garnered 141,546,437 votes for his nomination and 1,049,145,182 to withhold.
The seats they were campaigning for against Maria Elena Lagomasino and Michael Froman each had more votes, 749,857,222 and 1,041,407,854, respectively. Lagomasino had the fewest votes of the current Walt Disney Board members.
Blackwell Capital nominees all received far fewer votes.
The board member with the highest number of votes was James P. Gorman, who was just appointed last year. He received 1,160950,477 votes for and only 30,438,562 to withhold. After Gorman were Amy L. Chang, with 1,148,348,862, and D. Jeremy Darroch, with 1,147,893,579.
Bob Iger came in with...
Trian Partners Nelson Peltz received 370,974,890 votes for his nomination with 819,744,149 votes to withhold. James Rasulo garnered 141,546,437 votes for his nomination and 1,049,145,182 to withhold.
The seats they were campaigning for against Maria Elena Lagomasino and Michael Froman each had more votes, 749,857,222 and 1,041,407,854, respectively. Lagomasino had the fewest votes of the current Walt Disney Board members.
Blackwell Capital nominees all received far fewer votes.
The board member with the highest number of votes was James P. Gorman, who was just appointed last year. He received 1,160950,477 votes for and only 30,438,562 to withhold. After Gorman were Amy L. Chang, with 1,148,348,862, and D. Jeremy Darroch, with 1,147,893,579.
Bob Iger came in with...
- 4/18/2024
- by Kambrea Pratt
- Pirates & Princesses
The votes have been tallied, and Disney’s victory over the activist investor Nelson Peltz and his Trian Partners is final.
But thanks to a new filing with the Securities and Exchange Commission, we now have a sense of just how big a margin it was. Disney on Wednesday filed the “final, certified voting results” from the annual shareholder meeting, as tallied by its independent auditor First Coast Results, Inc.
Arguably the biggest winner was Disney CEO Bob Iger, who can now move forward with the “distracting” proxy fight behind him. Iger’s board seat was also up for a vote, and the filing shows that he secured about 94 percent of the votes, or 1,118,465,241 votes, with only 73,022,334 votes to withhold.
Peltz, meanwhile, was seeking to replace Maria Elena Lagomasino on the board, but only received 370,974,890 votes, compared to Lagomasino’s 749,857,222, with the current director beating him by a two-to-one margin.
But thanks to a new filing with the Securities and Exchange Commission, we now have a sense of just how big a margin it was. Disney on Wednesday filed the “final, certified voting results” from the annual shareholder meeting, as tallied by its independent auditor First Coast Results, Inc.
Arguably the biggest winner was Disney CEO Bob Iger, who can now move forward with the “distracting” proxy fight behind him. Iger’s board seat was also up for a vote, and the filing shows that he secured about 94 percent of the votes, or 1,118,465,241 votes, with only 73,022,334 votes to withhold.
Peltz, meanwhile, was seeking to replace Maria Elena Lagomasino on the board, but only received 370,974,890 votes, compared to Lagomasino’s 749,857,222, with the current director beating him by a two-to-one margin.
- 4/17/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
The move to add free streaming channels is the latest bid by Disney to increase engagement on its streaming platform.
Fresh off a proxy fight win against activist investor Nelson Peltz, Disney CEO Bob Iger is feeling confident and emboldened to fully enact his strategy to get the company’s streaming segment to profitability as soon as humanly possible. A new report from The Information suggests that the company will soon be bringing free ad-supported TV (Fast) channels on its flagship streaming service Disney+ in an effort to increase revenue and engagement. The plan reportedly will include around-the-clock linear channels that broadcast titles from Star Wars, Marvel, and other popular franchises owned by the company.
Disney+ will reportedly keep these channels behind a paywall, making them available only to subscribers. There are few details available as yet, such as the number of channels available or a launch date. Disney launched...
Fresh off a proxy fight win against activist investor Nelson Peltz, Disney CEO Bob Iger is feeling confident and emboldened to fully enact his strategy to get the company’s streaming segment to profitability as soon as humanly possible. A new report from The Information suggests that the company will soon be bringing free ad-supported TV (Fast) channels on its flagship streaming service Disney+ in an effort to increase revenue and engagement. The plan reportedly will include around-the-clock linear channels that broadcast titles from Star Wars, Marvel, and other popular franchises owned by the company.
Disney+ will reportedly keep these channels behind a paywall, making them available only to subscribers. There are few details available as yet, such as the number of channels available or a launch date. Disney launched...
- 4/16/2024
- by David Satin
- The Streamable
Marvel laid off 15 staffers on Monday, including lower-level production and development employees in Marvel Studios in Burbank as well as employees in the Marvel Entertainment division in New York.
The layoffs were predicated by the overall reduction in Marvel’s slate of film and TV titles after the challenges of the 2023 releases led the company to reassess the rapid increase in productions to feed the launch of Disney+. They’re also meant to address Disney’s decision in March 2023 to absorb the Marvel Entertainment banner, which had operated as an independent unit, into other divisions of the company, which created redundant positions.
The latter decision has already led to the dismissal of Isaac “Ike” Perlmutter from his position as chairman of Marvel Entertainment, as well as two other top executives. Perlmutter was a staunch supporter of Nelson Peltz’s recent failed attempt to join the Disney board of directors.
In the February earnings call,...
The layoffs were predicated by the overall reduction in Marvel’s slate of film and TV titles after the challenges of the 2023 releases led the company to reassess the rapid increase in productions to feed the launch of Disney+. They’re also meant to address Disney’s decision in March 2023 to absorb the Marvel Entertainment banner, which had operated as an independent unit, into other divisions of the company, which created redundant positions.
The latter decision has already led to the dismissal of Isaac “Ike” Perlmutter from his position as chairman of Marvel Entertainment, as well as two other top executives. Perlmutter was a staunch supporter of Nelson Peltz’s recent failed attempt to join the Disney board of directors.
In the February earnings call,...
- 4/15/2024
- by Adam B. Vary
- Variety Film + TV
The Walt Disney Company is facing yet another stock drop. In the last two weeks, Disney’s stock went from $122.82 to $113.87 at the time of this article, a drop of about $9. What is going on?
The stock initially increased in early April ahead of the Annual Shareholder Meeting when everyone was waiting to see if activist investors like Nelson Peltz would gain a seat on the Walt Disney board. When the media began reporting that the current board would likely remain, the stock prices began to fall. When voting was concluded, and the status quo remained, the stocks started dropping again.
Before the shareholders meeting, Disney CEO Bob Iger made several announcements at the Q2 2024 earnings call in February. Announcements like a “Moana” television show being reworked into a second film, Taylor Swift’s Eras Tour streaming on Disney+, and a deal with Epic Games for a partnership with Fortnite.
The stock initially increased in early April ahead of the Annual Shareholder Meeting when everyone was waiting to see if activist investors like Nelson Peltz would gain a seat on the Walt Disney board. When the media began reporting that the current board would likely remain, the stock prices began to fall. When voting was concluded, and the status quo remained, the stocks started dropping again.
Before the shareholders meeting, Disney CEO Bob Iger made several announcements at the Q2 2024 earnings call in February. Announcements like a “Moana” television show being reworked into a second film, Taylor Swift’s Eras Tour streaming on Disney+, and a deal with Epic Games for a partnership with Fortnite.
- 4/15/2024
- by Kambrea Pratt
- Pirates & Princesses
Screen looks at the key take-aways from the annual exhibitors convention in Las Vegas which ran April 8-11.
Studios put corporate speculation to one side
Amid all the huff and puff about resigning Paramount Global board members and exclusive merger talks with Skydance Media, Disney CEO Bob Iger’s boardroom victory over Nelson Peltz, and whatever fate may befall David Zaslav’s Warner Bros Discovery, studio executives put on a show, having no alternative.
There was the usual talk of the value of theatrical and how distributors and theatre owners need to collaborate more closely. This is all par for...
Studios put corporate speculation to one side
Amid all the huff and puff about resigning Paramount Global board members and exclusive merger talks with Skydance Media, Disney CEO Bob Iger’s boardroom victory over Nelson Peltz, and whatever fate may befall David Zaslav’s Warner Bros Discovery, studio executives put on a show, having no alternative.
There was the usual talk of the value of theatrical and how distributors and theatre owners need to collaborate more closely. This is all par for...
- 4/13/2024
- ScreenDaily
Screen looks at the key take-aways from the annual exhibitors convention in Las Vegas which ran April 8-11.
Studios put corporate speculation to one side
Amid all the huff and puff about resigning Paramount Global board members and exclusive merger talks with Skydance Media, Disney CEO Bob Iger’s boardroom victory over Nelson Peltz, and whatever fate may befall David Zaslav’s Warner Bros Discovery, studio executives put on a show, having no alternative.
There was the usual talk of the value of theatrical and how distributors and theatre owners need to collaborate more closely. This is all par for...
Studios put corporate speculation to one side
Amid all the huff and puff about resigning Paramount Global board members and exclusive merger talks with Skydance Media, Disney CEO Bob Iger’s boardroom victory over Nelson Peltz, and whatever fate may befall David Zaslav’s Warner Bros Discovery, studio executives put on a show, having no alternative.
There was the usual talk of the value of theatrical and how distributors and theatre owners need to collaborate more closely. This is all par for...
- 4/13/2024
- ScreenDaily
Screen looks at the key take-aways from the annual exhibitors convention in Las Vegas which ran April 8-11.
Exhibitors in decent shape; AMC boss fends off bankruptcy talk
Cineworld has come through a restructure. Cinemark continues to run a tight ship. And AMC will not file for bankruptcy – or so CEO Adam Aron asserted whenever a reporter was within earshot, despite a heavy debt load and incessant speculation about the financial health of the world’s largest circuit after Covid and the Hollywood strikes.
However Drafthouse is exploring a sale, and Hollywood sources told Screen the likelihood is there will be consolidation down the line,...
Exhibitors in decent shape; AMC boss fends off bankruptcy talk
Cineworld has come through a restructure. Cinemark continues to run a tight ship. And AMC will not file for bankruptcy – or so CEO Adam Aron asserted whenever a reporter was within earshot, despite a heavy debt load and incessant speculation about the financial health of the world’s largest circuit after Covid and the Hollywood strikes.
However Drafthouse is exploring a sale, and Hollywood sources told Screen the likelihood is there will be consolidation down the line,...
- 4/13/2024
- ScreenDaily
Lola, whose protagonist careens from one traumatic experience to the next, doesn’t explore hardship – it exploits it
If a nepo baby makes a laughably oblique film portraying what she must imagine to be the strife of the impoverished class, but hardly anyone watches it, will it hurt her career?
That’s sort of a trick question. Nicola Peltz Beckham, daughter of the Disney agitator investor and billionaire Nelson Peltz, and daughter-in-law of the power couple David and Victoria Beckham, dwells in a tax stratum so high that her career’s successes and failures are almost irrelevant. Most learned her name when her father filed a lawsuit against two of her former wedding planners over a $159,000 deposit – a relatively small amount in comparison with the reported $3.8m bill for her nuptials to Brooklyn Beckham. She has acted in a handful of television shows and movies since she was 11, but Lola,...
If a nepo baby makes a laughably oblique film portraying what she must imagine to be the strife of the impoverished class, but hardly anyone watches it, will it hurt her career?
That’s sort of a trick question. Nicola Peltz Beckham, daughter of the Disney agitator investor and billionaire Nelson Peltz, and daughter-in-law of the power couple David and Victoria Beckham, dwells in a tax stratum so high that her career’s successes and failures are almost irrelevant. Most learned her name when her father filed a lawsuit against two of her former wedding planners over a $159,000 deposit – a relatively small amount in comparison with the reported $3.8m bill for her nuptials to Brooklyn Beckham. She has acted in a handful of television shows and movies since she was 11, but Lola,...
- 4/12/2024
- by Kady Ruth Ashcraft
- The Guardian - Film News
The moment that it started to seem possible that Bob Iger could lose the battle to keep dissident shareholder Nelson Peltz off the Disney board was on March 21, when leading proxy advisory firm Institutional Shareholder Services announced its support for the activist investor. Days later, the California Public Employees Retirement System (CalPERS) took it a step further, saying it was voting its shares not only for Peltz but for his associate, former Disney CFO Jay Rasulo. Now that it’s over, it’s fair to ask: What were they thinking?
Iss explained its decision by rattling off a string of issues, but the big one was succession, which had been notoriously botched with the Bob Chapek interregnum after Iger had postponed his retirement no fewer than four times. “Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board...
Iss explained its decision by rattling off a string of issues, but the big one was succession, which had been notoriously botched with the Bob Chapek interregnum after Iger had postponed his retirement no fewer than four times. “Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board...
- 4/10/2024
- by Kim Masters
- The Hollywood Reporter - Movie News
The Walt Disney Co. has released the official vote totals from its April 3 annual shareholder meeting, the event that featured the culmination of a proxy fight waged by Nelson Peltz.
The effort by Peltz’s Trian Fund Management to secure two seats on the company’s board of directors was vanquished by Chairman and CEO Bob Iger after campaigns costing each side tens of millions of dollars. Disney’s full slate of 12 board nominees ultimately got approved by shareholders and the meeting featured little of the drama that its build-up promised. Nevertheless, the clash sent a clear message about Iger’s stumbles with succession planning and other operational concerns among many investors.
Initial characterizations of the election results were provided by sources close to the voting last week, but not the final numbers, which were relayed in an SEC filing Tuesday.
Iger finished in fourth place among all board nominees.
The effort by Peltz’s Trian Fund Management to secure two seats on the company’s board of directors was vanquished by Chairman and CEO Bob Iger after campaigns costing each side tens of millions of dollars. Disney’s full slate of 12 board nominees ultimately got approved by shareholders and the meeting featured little of the drama that its build-up promised. Nevertheless, the clash sent a clear message about Iger’s stumbles with succession planning and other operational concerns among many investors.
Initial characterizations of the election results were provided by sources close to the voting last week, but not the final numbers, which were relayed in an SEC filing Tuesday.
Iger finished in fourth place among all board nominees.
- 4/9/2024
- by Dade Hayes
- Deadline Film + TV
NBCUniversal chief content officer Donna Langley was there. So was Sony head Tom Rothman. Bob Iger was one of the few Hollywood heavyweights who couldn’t make it, but at least he had a good excuse, still in the midst of a vicious proxy battle with investor Nelson Peltz.
The event: The grand unveiling of Megalopolis, the self-funded epic from legendary The Godfather trilogy director Francis Ford Coppola, to the titans of the film industry. The March 28 screening — held 10 a.m. at the Universal CityWalk Imax theater — was also attended by such Coppola-verse luminaries as nephew Nicolas Cage, The Godfather series star Al Pacino and Spike Jonze, Coppola’s ex-son-in-law. Two of the film’s stars — Shia Labeouf and Coppola’s sister, Talia Shire — were also on hand.
The project, which Coppola first began writing in 1983, cost a reported $120 million to make — funded in part by the sale of a...
The event: The grand unveiling of Megalopolis, the self-funded epic from legendary The Godfather trilogy director Francis Ford Coppola, to the titans of the film industry. The March 28 screening — held 10 a.m. at the Universal CityWalk Imax theater — was also attended by such Coppola-verse luminaries as nephew Nicolas Cage, The Godfather series star Al Pacino and Spike Jonze, Coppola’s ex-son-in-law. Two of the film’s stars — Shia Labeouf and Coppola’s sister, Talia Shire — were also on hand.
The project, which Coppola first began writing in 1983, cost a reported $120 million to make — funded in part by the sale of a...
- 4/8/2024
- by Seth Abramovitch, Kim Masters and Pamela McClintock
- The Hollywood Reporter - Movie News
Donald Trump promised to keep billionaires’ taxes low at a fundraising dinner Saturday night in Palm Beach, Fla., held at the home of billionaire John Paulson.
A Trump campaign official told NBC News that the former president “spoke on the need to win back the White House so we can turn our country around, focusing on key issues including unleashing energy production, securing our southern border, reducing inflation, extending the Trump Tax Cuts, eliminating Joe Biden’s insane [electric vehicle] mandate, protecting Israel, and avoiding global war.” NBC News requested to have...
A Trump campaign official told NBC News that the former president “spoke on the need to win back the White House so we can turn our country around, focusing on key issues including unleashing energy production, securing our southern border, reducing inflation, extending the Trump Tax Cuts, eliminating Joe Biden’s insane [electric vehicle] mandate, protecting Israel, and avoiding global war.” NBC News requested to have...
- 4/7/2024
- by Peter Wade
- Rollingstone.com
Updated with new exec comments. Disney CEO Bob Iger has offered more precise timing for Disney’s previously announced plan to crack down on password sharing on streaming flagship Disney+, saying it will start rolling out in June.
During a wide-ranging CNBC interview Thursday after a successful effort to thwart activist investor Nelson Peltz in a proxy fight, Iger said, “In June we’ll be launching our first real foray into password sharing.” The initiative, he added, will start in “just a few countries in a few markets, but then it will grow significantly with a full rollout in September.” Along with other aspects to the company’s streaming strategy, the Netflix-like stance on passwords “will turn this business into a business that we feel really good about.”
The company had announced in February that it was targeting summer 2024 for the new plan.
Previously:
Disney this summer will roll...
During a wide-ranging CNBC interview Thursday after a successful effort to thwart activist investor Nelson Peltz in a proxy fight, Iger said, “In June we’ll be launching our first real foray into password sharing.” The initiative, he added, will start in “just a few countries in a few markets, but then it will grow significantly with a full rollout in September.” Along with other aspects to the company’s streaming strategy, the Netflix-like stance on passwords “will turn this business into a business that we feel really good about.”
The company had announced in February that it was targeting summer 2024 for the new plan.
Previously:
Disney this summer will roll...
- 4/5/2024
- by Dade Hayes
- Deadline Film + TV
Beyond the vast windows of Palm Beach’s iconic Breakers resort, the ocean sparkled as women in designer florals paraded under the lobby’s vaulted, hand-frescoed ceilings. They were headed to network with Martha Stewart and Tommy Hilfiger and swap Hermès and Gucci purses for charity at a $600-per-ticket “Old Bags” luncheon.
Later, many of them joined the daily flock gathered poolside at the historic Colony Hotel, sipping cocktails served by young men in pink shirts. Apart from the rose-hued hotel’s interior update, including a new Goop-designed bungalow, similar scenes could have unfolded a half-century earlier — which is why the new Apple TV+ show Palm Royale, set in 1969, doesn’t seem very dated. The characters played by Kristen Wiig, Laura Dern and Allison Janney could have easily mingled among this crowd, and when the show incorporated shots of The Breakers, the only thing they had to adjust for historical accuracy was the cars.
Later, many of them joined the daily flock gathered poolside at the historic Colony Hotel, sipping cocktails served by young men in pink shirts. Apart from the rose-hued hotel’s interior update, including a new Goop-designed bungalow, similar scenes could have unfolded a half-century earlier — which is why the new Apple TV+ show Palm Royale, set in 1969, doesn’t seem very dated. The characters played by Kristen Wiig, Laura Dern and Allison Janney could have easily mingled among this crowd, and when the show incorporated shots of The Breakers, the only thing they had to adjust for historical accuracy was the cars.
- 4/5/2024
- by Beth Landman
- The Hollywood Reporter - Movie News
Editors note: Running until the final general election results come in, the Deadline ElectionLine podcast spotlights the 2024 campaign and the blurred lines between politics and entertainment in modern America. Hosted by Deadline’s political editor Ted Johnson and executive editor Dominic Patten, the podcast features commentary and interviews with top lawmakers and entertainment figures. At the same time, you can follow all the news in the Biden & Trump rematch and more on the ElectionLine hub on Deadline.
“It goes back to one of the most famous phrases: politics is local,” says Karine Jean-Pierre today on the Deadline ElectionLine podcast. “It is important that we reach and meet people where they are,” the White House Press Secretary adds of the administration’s approach to getting its message and policies to Americans in a fractured and siloed media environment — take a listen above.
“It is important to talk outside the political bubble.
“It goes back to one of the most famous phrases: politics is local,” says Karine Jean-Pierre today on the Deadline ElectionLine podcast. “It is important that we reach and meet people where they are,” the White House Press Secretary adds of the administration’s approach to getting its message and policies to Americans in a fractured and siloed media environment — take a listen above.
“It is important to talk outside the political bubble.
- 4/5/2024
- by Dominic Patten and Ted Johnson
- Deadline Film + TV
Some subscribers to Disney’s streaming services will start seeing some new messaging up this summer: Pay up for anyone outside your main household who’s illicitly piggybacking on the services — or face potentially getting disconnected.
According to Disney chief Bob Iger, the Mouse House this June will “be launching our first real foray into password sharing” enforcement. Iger, during an interview Thursday on CNBC, said the initial launch will be “just a few countries in a few markets” (he didn’t identify them) then “will grow significantly with a full rollout in September.”
The initial communications to Disney+, Hulu and ESPN+ customers will prompt password-borrowers to start their own subscriptions, the company has said previously. Later in 2024, account holders who want allow access to individuals outside their household will be able to add them for an additional fee.
Disney, of course, is taking a page from Netflix on the...
According to Disney chief Bob Iger, the Mouse House this June will “be launching our first real foray into password sharing” enforcement. Iger, during an interview Thursday on CNBC, said the initial launch will be “just a few countries in a few markets” (he didn’t identify them) then “will grow significantly with a full rollout in September.”
The initial communications to Disney+, Hulu and ESPN+ customers will prompt password-borrowers to start their own subscriptions, the company has said previously. Later in 2024, account holders who want allow access to individuals outside their household will be able to add them for an additional fee.
Disney, of course, is taking a page from Netflix on the...
- 4/5/2024
- by Todd Spangler
- Variety Film + TV
It had all the elements of a good action movie – jeopardy, revenge, a mega budget – with even some casualties thrown in (albeit corporate).
The Bob Iger vs Nelson Peltz (who?) war is over now and Iger has won. But some filmmakers and ticket buyers might wonder: Did any of it matter? Would a modest change on the Disney board of directors have had any impact on the future of entertainment? (Peltz himself runs a hedge fund called Trian Partners and has no background in entertainment.)
To be sure, it’s been a good show, albeit a throwback to an era when Hollywood was run by Big Personalities, not monoliths like Amazon or Apple. The battles of that era were ego wars, not proxy wars — Redstone vs Diller or Murdoch vs Ted Turner, with bewildered stars and their reps huddled in the middle.
But now Iger has won – again. The onetime...
The Bob Iger vs Nelson Peltz (who?) war is over now and Iger has won. But some filmmakers and ticket buyers might wonder: Did any of it matter? Would a modest change on the Disney board of directors have had any impact on the future of entertainment? (Peltz himself runs a hedge fund called Trian Partners and has no background in entertainment.)
To be sure, it’s been a good show, albeit a throwback to an era when Hollywood was run by Big Personalities, not monoliths like Amazon or Apple. The battles of that era were ego wars, not proxy wars — Redstone vs Diller or Murdoch vs Ted Turner, with bewildered stars and their reps huddled in the middle.
But now Iger has won – again. The onetime...
- 4/4/2024
- by Peter Bart
- Deadline Film + TV
Disney CEO Bob Iger said on Thursday that succession is the board’s top priority, a password-sharing crackdown is coming in the summer, and rejected the notion that the proxy fight with activist shareholder Nelson Peltz drove up the share price.
Speaking in a television interview on CNBC the executive reflected on the lessons of the protracted proxy fight, which ended yesterday in a “decisive” vote of confidence in Iger’s leadership as shareholders elected all 12 of Disney’s board nominees.
According to reports close to 75% of retail or individual shareholders – a group which makes up around 40% of all Disney shareholders – backed the company,...
Speaking in a television interview on CNBC the executive reflected on the lessons of the protracted proxy fight, which ended yesterday in a “decisive” vote of confidence in Iger’s leadership as shareholders elected all 12 of Disney’s board nominees.
According to reports close to 75% of retail or individual shareholders – a group which makes up around 40% of all Disney shareholders – backed the company,...
- 4/4/2024
- ScreenDaily
During a shareholders call this week, Iger said that Disney had the chance to become the ‘ultimate streaming destination for consumers.’
Disney CEO Bob Iger appears to be feeling fairly confident these days. If that’s the case there’s good reason for it; Iger won another proxy fight against activist investor Nelson Peltz this week, securing enough votes to keep his candidates on the Disney board while he seeks a successor. On Thursday, Iger sat down with CNBC to discuss his victory and future vision for the company, unsurprisingly, Disney’s streaming fortunes came up in the course of the interview. Speaking with David Faber, Iger laid out his plan for Disney+ and Hulu and teased a future in which his company could compete directly with Netflix’s impressive streaming profit margins.
Iger reiterated that Disney expects its streaming business to be profitable by the company’s fourth fiscal quarter.
Disney CEO Bob Iger appears to be feeling fairly confident these days. If that’s the case there’s good reason for it; Iger won another proxy fight against activist investor Nelson Peltz this week, securing enough votes to keep his candidates on the Disney board while he seeks a successor. On Thursday, Iger sat down with CNBC to discuss his victory and future vision for the company, unsurprisingly, Disney’s streaming fortunes came up in the course of the interview. Speaking with David Faber, Iger laid out his plan for Disney+ and Hulu and teased a future in which his company could compete directly with Netflix’s impressive streaming profit margins.
Iger reiterated that Disney expects its streaming business to be profitable by the company’s fourth fiscal quarter.
- 4/4/2024
- by David Satin
- The Streamable
Disney first announced that it would be rolling out anti-password-sharing rules in August 2023 and now, CEO Bob Iger has confirmed that the company would be moving forward with those plans beginning in June. In a wide-ranging interview with CNBC the day after Disney won a contentious board election against activist investor Nelson Peltz, Iger’s announcement indicates changes coming to Disney+, Hulu, and ESPN+ in the coming months.
Disney will begin enforcing password-sharing rules in some countries in June before a wider launch in September. The company also plans to launch paid-sharing in conjunction with the rule changes. CEO Bob Iger hopes to simulate Netflix’s success in monetizing every possible streaming user. Sign Up Now $7.99+ / month disneyplus.com
Get Disney+, Hulu, and ESPN+ for just $14.99 a month ($12 savings).
Following the August announcement that Disney was ready to begin moving forward with a password-sharing crackdown in 2024, the company started updating...
Disney will begin enforcing password-sharing rules in some countries in June before a wider launch in September. The company also plans to launch paid-sharing in conjunction with the rule changes. CEO Bob Iger hopes to simulate Netflix’s success in monetizing every possible streaming user. Sign Up Now $7.99+ / month disneyplus.com
Get Disney+, Hulu, and ESPN+ for just $14.99 a month ($12 savings).
Following the August announcement that Disney was ready to begin moving forward with a password-sharing crackdown in 2024, the company started updating...
- 4/4/2024
- by Matt Tamanini
- The Streamable
Activist investor Nelson Peltz, reflecting on his losing proxy battle with Disney, says he will “watch and wait” to see if the company keeps its promises.
If it doesn’t, he told CNBC in an interview Thursday, “you’ll see me again.”
Asked by host Jim Cramer if reports were true that his firm, Trian Fund Management, had made $300 million on its Disney investment, Peltz called that figure “dramatically wrong.” When Cramer wondered if the gains were actually in the $1 billion range, Peltz replied, “that sounds more like it.”
The wavering performance of Disney’s stock performance, which brought it to multi-year lows last year, was one of the main complaints of Trian, along with the company’s approach to succession, streaming and film production. Since the proxy effort began, shares have rebounded strongly, climbing more than 35% in 2024 to date.
Trian’s months-long quest to install Peltz and former Disney...
If it doesn’t, he told CNBC in an interview Thursday, “you’ll see me again.”
Asked by host Jim Cramer if reports were true that his firm, Trian Fund Management, had made $300 million on its Disney investment, Peltz called that figure “dramatically wrong.” When Cramer wondered if the gains were actually in the $1 billion range, Peltz replied, “that sounds more like it.”
The wavering performance of Disney’s stock performance, which brought it to multi-year lows last year, was one of the main complaints of Trian, along with the company’s approach to succession, streaming and film production. Since the proxy effort began, shares have rebounded strongly, climbing more than 35% in 2024 to date.
Trian’s months-long quest to install Peltz and former Disney...
- 4/4/2024
- by Dade Hayes
- Deadline Film + TV
Fresh off his bruising loss in the proxy fight against The Walt Disney Co., the activist investor Nelson Peltz appeared on CNBC to discuss the fight in a conversation with Jim Cramer.
“I’m willing to give them the opportunity to prove me wrong; I’m willing to give them the opportunity to do as they say,” Peltz said. “The shareholders have voted. They want to give management and the board a chance. So, so be it. We will watch like we did last time.”
Peltz said he was “very surprised” that after the Institutional Shareholder Services recommendation in his favor, most institutional investors still voted for the Disney board.
“If you look at their comments, their comments were beautiful, they were very complimentary. But at the end of the day, they check the box and you’ll have to ask them why they did it,” Peltz added. “I’ve...
“I’m willing to give them the opportunity to prove me wrong; I’m willing to give them the opportunity to do as they say,” Peltz said. “The shareholders have voted. They want to give management and the board a chance. So, so be it. We will watch like we did last time.”
Peltz said he was “very surprised” that after the Institutional Shareholder Services recommendation in his favor, most institutional investors still voted for the Disney board.
“If you look at their comments, their comments were beautiful, they were very complimentary. But at the end of the day, they check the box and you’ll have to ask them why they did it,” Peltz added. “I’ve...
- 4/4/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Bob Iger just put the shush-finger up (he probably wanted to do the middle one) to Elon Musk and anyone else who says Disney’s content is more about social-justice issues these days than entertainment.
On Thursday, Iger sat with CNBC reporter David Faber at Disney HQ. The Disney chief was primarily there to celebrate his proxy-fight victory over Nelson Peltz, Ike Perlmutter, and other activist investors, but the topics went wide over the 30-minute conversation.
After the requisite stuff about the Disney board (status quo is good!), its Iger succession plan (no updates!), Disney+ and Hulu together (“doing extremely well”), their coming password-sharing crackdown, and a whole bunch on sports (no name or price point still on coming joint venture), Faber went “woke.” Well, he asked about the high-profile public figures, specifically Twitter/X owner Musk, who use the term as a pejorative when discussing Disney — how does Iger handle it?...
On Thursday, Iger sat with CNBC reporter David Faber at Disney HQ. The Disney chief was primarily there to celebrate his proxy-fight victory over Nelson Peltz, Ike Perlmutter, and other activist investors, but the topics went wide over the 30-minute conversation.
After the requisite stuff about the Disney board (status quo is good!), its Iger succession plan (no updates!), Disney+ and Hulu together (“doing extremely well”), their coming password-sharing crackdown, and a whole bunch on sports (no name or price point still on coming joint venture), Faber went “woke.” Well, he asked about the high-profile public figures, specifically Twitter/X owner Musk, who use the term as a pejorative when discussing Disney — how does Iger handle it?...
- 4/4/2024
- by Tony Maglio
- Indiewire
Bob Iger took a victory lap Thursday morning, a day after Disney fended off activist investor Nelson Peltz in a fierce proxy battle. In an interview on CNBC, the CEO said the fight had one positive: getting the company in closer touch with investors as it lobbied hard for its board slate. He also said succession is top of mind and a new CEO would require a decent transition period, as well as commented on current (and perhaps former) adversaries from Ike Perlmutter to Elon Musk and Florida Gov. Ron DeSantis.
Peltz didn’t have much strategically to offer Disney but did successfully press on one big misstep: succession. The billionaire activist investor lost his bid for a board seat, but did get the support of 30% of shareholders at yesterday’s annual meeting. The voting and tally marked the end of a bitter and expensive months-long fight.
“Clearly shareholders care...
Peltz didn’t have much strategically to offer Disney but did successfully press on one big misstep: succession. The billionaire activist investor lost his bid for a board seat, but did get the support of 30% of shareholders at yesterday’s annual meeting. The voting and tally marked the end of a bitter and expensive months-long fight.
“Clearly shareholders care...
- 4/4/2024
- by Jill Goldsmith
- Deadline Film + TV
A day after Disney declared victory over activist investor Nelson Peltz, CEO Bob Iger said the board is proceeding with “urgency” in trying to identify the next chief executive with the “distraction” of the proxy fight over.
“This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting.
Succession “is the board’s No. 1 priority,” Iger said, saying the board’s search committee to find a CEO successor met seven times in 2023 and plans to meet even more frequently this year. “They’re treating it with a sense of urgency because it is so important,” Iger said. The board is “taking it very, very seriously” because “I’m not going to be here forever.” Iger declined to provide a timeline for the selection of a new CEO; his contract extension...
“This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting.
Succession “is the board’s No. 1 priority,” Iger said, saying the board’s search committee to find a CEO successor met seven times in 2023 and plans to meet even more frequently this year. “They’re treating it with a sense of urgency because it is so important,” Iger said. The board is “taking it very, very seriously” because “I’m not going to be here forever.” Iger declined to provide a timeline for the selection of a new CEO; his contract extension...
- 4/4/2024
- by Todd Spangler
- Variety Film + TV
After Wednesday’s annual shareholder meeting — featuring CEO Bob Iger successfully fending off dissident investors, led by Trian’s Nelson Peltz — Wall Street experts are gaming out the next steps Disney may take as it plots out room for growth.
Analysts took stock of the vote’s impact on and outlook for Disney, its stock, and its management team, led by Iger. Succession planning and the need to optimize streaming and pay-tv profits are among the key priorities they outlined.
Disney shares closed down 3.1 percent at $118.98 on Wednesday, but were up slightly in Thursday pre-market trading.
MoffettNathanson analysts Michael Nathanson and Robert Fishman maintained their “buy” rating on Disney shares, but increased their stock price target by $10 to $135, citing “a higher market multiple and increased conviction in our full-year 2025 earnings per share estimates.”
Addressing the stock’s outlook, they shared: “While it might have admittedly taken longer than we first...
Analysts took stock of the vote’s impact on and outlook for Disney, its stock, and its management team, led by Iger. Succession planning and the need to optimize streaming and pay-tv profits are among the key priorities they outlined.
Disney shares closed down 3.1 percent at $118.98 on Wednesday, but were up slightly in Thursday pre-market trading.
MoffettNathanson analysts Michael Nathanson and Robert Fishman maintained their “buy” rating on Disney shares, but increased their stock price target by $10 to $135, citing “a higher market multiple and increased conviction in our full-year 2025 earnings per share estimates.”
Addressing the stock’s outlook, they shared: “While it might have admittedly taken longer than we first...
- 4/4/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
A vicious proxy war has been erupting between Disney CEO Bob Iger and Trian Partners founder Nelson Peltz over the last three months regarding control of two seats on the company’s corporate board. Prominent figures from the entertainment and business industries have expressed interest in the board fight.
At Disney’s annual shareholders meeting on Wednesday, investors cast their votes for the board, and this was supposed to be the pivotal moment. Well, now, it is official: Peltz’s attempt to secure seats on the Mouse House board of directors was dismissed by Disney shareholders.
Nelson Peltz in an interview with CNBC
Investors ultimately voted to re-elect all twelve of the board members, including CEO Bob Iger, capping the most expensive corporate proxy battle in history. Also, note that the stock price dropped after all 12 of the company’s current directors were re-elected at the annual meeting.
Disney Shareholders...
At Disney’s annual shareholders meeting on Wednesday, investors cast their votes for the board, and this was supposed to be the pivotal moment. Well, now, it is official: Peltz’s attempt to secure seats on the Mouse House board of directors was dismissed by Disney shareholders.
Nelson Peltz in an interview with CNBC
Investors ultimately voted to re-elect all twelve of the board members, including CEO Bob Iger, capping the most expensive corporate proxy battle in history. Also, note that the stock price dropped after all 12 of the company’s current directors were re-elected at the annual meeting.
Disney Shareholders...
- 4/4/2024
- by Siddhika Prajapati
- FandomWire
(Stock image via Unsplash)
The Walt Disney Company and its chief executive successfully averted a shake-up on Wednesday after a challenge brought by Nelson Peltz’s hedge fund failed to secure enough shareholder votes.
Peltz, a major Disney investor, sought to install himself as a board director after affirming his position that the family-oriented company needed a fresh voices and perspectives from its senior leaders.
Preliminary results of the shareholder vote showed Iger and the current board secured enough support “by a substantial margin,” according to a statement from the company on Wednesday. All but one director currently on Disney’s board were appointed by Iger following his unexpected return to the company nearly two years ago.
“With the distracting proxy contest now behind us, we’re eager to focus 100 percent of our attention on our most important priorities: Growth and value creation for our shareholders and creative excellence for our consumers,...
The Walt Disney Company and its chief executive successfully averted a shake-up on Wednesday after a challenge brought by Nelson Peltz’s hedge fund failed to secure enough shareholder votes.
Peltz, a major Disney investor, sought to install himself as a board director after affirming his position that the family-oriented company needed a fresh voices and perspectives from its senior leaders.
Preliminary results of the shareholder vote showed Iger and the current board secured enough support “by a substantial margin,” according to a statement from the company on Wednesday. All but one director currently on Disney’s board were appointed by Iger following his unexpected return to the company nearly two years ago.
“With the distracting proxy contest now behind us, we’re eager to focus 100 percent of our attention on our most important priorities: Growth and value creation for our shareholders and creative excellence for our consumers,...
- 4/4/2024
- by Matthew Keys
- The Desk
When the Silver Surfer makes his debut in the MCU, he will now be a she.
Only a few hours after winning its proxy battle against Nelson Peltz, it’s been confirmed that the MCU version of the Silver Surfer will not be Norrin Radd, but rather his lover Shalla-Bal, empress of Zenn-La.
The female Silver Surfer will be played by Julia Garner of Ozark fame.
In the comics, Norrin Radd becomes the herald of Galactus to save his love and his homeworld from being devoured by the world eater.
Disney likely knew this would be a very unpopular decision among Marvel Comics fans, as the Surfer is a beloved character who has starred in his own animated series, a movie, and even video games. That could factor into why they waited to drop the news until after the proxy battle was over, as the rest of the Fantastic Four cast has already been announced.
Only a few hours after winning its proxy battle against Nelson Peltz, it’s been confirmed that the MCU version of the Silver Surfer will not be Norrin Radd, but rather his lover Shalla-Bal, empress of Zenn-La.
The female Silver Surfer will be played by Julia Garner of Ozark fame.
In the comics, Norrin Radd becomes the herald of Galactus to save his love and his homeworld from being devoured by the world eater.
Disney likely knew this would be a very unpopular decision among Marvel Comics fans, as the Surfer is a beloved character who has starred in his own animated series, a movie, and even video games. That could factor into why they waited to drop the news until after the proxy battle was over, as the rest of the Fantastic Four cast has already been announced.
- 4/3/2024
- by PNP Newsroom
- Pirates & Princesses
In the end, Bob Iger didn’t have to break a sweat to fend off Nelson Peltz.
No question, Disney did have to spend tens of millions of dollars to fight the proxy battle with the activist investor, which came to a head on Wednesday with the Mouse House’s annual shareholders meeting. From the start, it was an extreme long shot that a majority of shareholders (or a majority of those who opted to cast a virtual vote) would turn against Iger and install Trian Partners founder Peltz and former Disney executive Jay Rasulo as board members, in opposition to Disney’s preferred slate of 12 incumbent directors.
On Wednesday, Iger was in prime form as Disney’s avuncular statesman, addressing the meeting in a pre-taped video filmed — where else? — at the happiest place on earth, aka Disneyland Resort in Anaheim, Calif. Disney’s shareholder meeting was entirely virtual this year,...
No question, Disney did have to spend tens of millions of dollars to fight the proxy battle with the activist investor, which came to a head on Wednesday with the Mouse House’s annual shareholders meeting. From the start, it was an extreme long shot that a majority of shareholders (or a majority of those who opted to cast a virtual vote) would turn against Iger and install Trian Partners founder Peltz and former Disney executive Jay Rasulo as board members, in opposition to Disney’s preferred slate of 12 incumbent directors.
On Wednesday, Iger was in prime form as Disney’s avuncular statesman, addressing the meeting in a pre-taped video filmed — where else? — at the happiest place on earth, aka Disneyland Resort in Anaheim, Calif. Disney’s shareholder meeting was entirely virtual this year,...
- 4/3/2024
- by Cynthia Littleton
- Variety Film + TV
After Disney declared victory in its proxy battle with activist investor Nelson Peltz, CEO Bob Iger went on a theme-park offensive during the company’s annual shareholder meeting.
Delivering scripted video remarks from a perch overlooking Disneyland, Iger extolled the parks as a key strategic area of focus and offered a brief first look (see below) at the “possible” new Avatar-themed area at the Anaheim park. Pandora – The World of Avatar, has been up and running at Disney World in Florida for years and Iger said it is the company’s “intention” to make it a new feature of Disneyland. “We’re thrilled about many potential new stories that our guests could experience in Walt’s original theme park, including the opportunity to embark on all-new Avatar adventures with a visit to the world of Pandora,” he said.
Artist’s rendering of Pandora – The World of Avatar coming to Disneyland.
Delivering scripted video remarks from a perch overlooking Disneyland, Iger extolled the parks as a key strategic area of focus and offered a brief first look (see below) at the “possible” new Avatar-themed area at the Anaheim park. Pandora – The World of Avatar, has been up and running at Disney World in Florida for years and Iger said it is the company’s “intention” to make it a new feature of Disneyland. “We’re thrilled about many potential new stories that our guests could experience in Walt’s original theme park, including the opportunity to embark on all-new Avatar adventures with a visit to the world of Pandora,” he said.
Artist’s rendering of Pandora – The World of Avatar coming to Disneyland.
- 4/3/2024
- by Dade Hayes and Tom Tapp
- Deadline Film + TV
Shortly after denying Nelson Peltz a seat on the Disney board, the House of Mouse is sharing first looks at two of their upcoming films, Moana 2 and Mufasa: The Lion King. The Hollywood Handle was the first to share the Mufasa image, which Disney debuted as part of the studio’s 2024 Annual Meeting of Shareholders. The picture for Mufasa: The Lion King depicts a young Mufasa standing at the edge of a cliff while staring out at a desaturated Pride Land. The Barry Jenkins-directed sequel to Jon Favreau’s 2019 live-action hybrid focuses on Simba, having become king of the Pride Lands, and is determined for his cub to follow in his paw prints while the origins of his late father Mufasa are explored.
First look at ‘Mufasa: The Lion King.’
Releasing in theaters on December 20. pic.twitter.com/O902KU3K66
— The Hollywood Handle (@HollywoodHandle) April 3, 2024
Mufasa: The...
First look at ‘Mufasa: The Lion King.’
Releasing in theaters on December 20. pic.twitter.com/O902KU3K66
— The Hollywood Handle (@HollywoodHandle) April 3, 2024
Mufasa: The...
- 4/3/2024
- by Steve Seigh
- JoBlo.com
Disney's long, costly fight to deny activist investor Nelson Peltz seats on the company's board of directors is over (for now). During today's annual shareholders meeting, Disney announced that investors had voted to reelect all 12 current board members. Peltz's Trian Partners investment firm had sought two seats (one for Peltz and another for Jay Rasulo), but according to Disney their bid fell short by a "significant margin."
Vote totals will be released later today, but specifying the apparent magnitude of Peltz's defeat feels like a bit of an endzone dance by CEO Bob Iger (who's repeatedly called this battle a "distraction" for the company) as well as a warning to the 81-year-old malcontent to knock it off.
Peltz has been waging this war since last year, and in theory, had cause to question the direction of the company given its precipitous stock slide in the wake of former CEO Bob Chapek's departure.
Vote totals will be released later today, but specifying the apparent magnitude of Peltz's defeat feels like a bit of an endzone dance by CEO Bob Iger (who's repeatedly called this battle a "distraction" for the company) as well as a warning to the 81-year-old malcontent to knock it off.
Peltz has been waging this war since last year, and in theory, had cause to question the direction of the company given its precipitous stock slide in the wake of former CEO Bob Chapek's departure.
- 4/3/2024
- by Jeremy Smith
- Slash Film
Asked whether Disney would stay out of politics, CEO Bob Iger said that the company is not out to “advance any kind of agenda,” but rather is focused on entertainment.
“Our job is to entertain first and foremost, and by telling great stories, we continue to have a positive impact on the world and inspire future generations, just as we’ve done for over 100 years. Disney has always been and will continue to be a source of hope, joy and optimism for people of all ages. We’re committed to telling stories that reflect the world around us and using those stories to entertain people from all walks of life,” Iger said during the company’s annual shareholder meeting Wednesday.
“I’ve always believed that we have a responsibility to do good in the world. But we know our job is not to advance any kind of agenda. So as...
“Our job is to entertain first and foremost, and by telling great stories, we continue to have a positive impact on the world and inspire future generations, just as we’ve done for over 100 years. Disney has always been and will continue to be a source of hope, joy and optimism for people of all ages. We’re committed to telling stories that reflect the world around us and using those stories to entertain people from all walks of life,” Iger said during the company’s annual shareholder meeting Wednesday.
“I’ve always believed that we have a responsibility to do good in the world. But we know our job is not to advance any kind of agenda. So as...
- 4/3/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Uncork the champagne and prep the Disney yacht because the Walt Disney Company and CEO Bob Iger have reasons to celebrate after activist investor Nelson Peltz failed to secure a seat on the board for himself and former Disney CEO Jay Rasulo.
Peltz aimed to kick Disney directors Maria Elena Lagomasino and Michael Froman from their prominent positions, replacing them with Peltz and Rasulo. Peltz failed after launching an aggressive campaign in January via his Trian Partners. Still, the effort petered out in February after Iger announced a studio-wide reboot, causing Disney’s share prices to skyrocket.
The proxy battle between the mouse-eared company, Iger and Peltz, got nasty as both parties vowed to control the Walt Disney Company empire. Disney even went so far as to release a political-style ad framing Trian in a less-than-favorable light. Trian clapped back with a statement saying they were not targeting Iger but the board overall.
Peltz aimed to kick Disney directors Maria Elena Lagomasino and Michael Froman from their prominent positions, replacing them with Peltz and Rasulo. Peltz failed after launching an aggressive campaign in January via his Trian Partners. Still, the effort petered out in February after Iger announced a studio-wide reboot, causing Disney’s share prices to skyrocket.
The proxy battle between the mouse-eared company, Iger and Peltz, got nasty as both parties vowed to control the Walt Disney Company empire. Disney even went so far as to release a political-style ad framing Trian in a less-than-favorable light. Trian clapped back with a statement saying they were not targeting Iger but the board overall.
- 4/3/2024
- by Steve Seigh
- JoBlo.com
Scoring a big and costly win Wednesday against Nelson Peltz’s second attempt to get on the Disney board, Bob Iger was both gracious and a little biting in victory.
Once the vote results were announced this morning during Disney’s annual meeting of shareholders, the past and present CEO address the virtual meeting to thank “shareholders for your trust and confidence in the Disney board and management and the ambitious strategy we’re implementing across our businesses to build for the future.”
Of course, having had to fend off a direct challenge to his leadership from Peltz’s Trian Group and Ike Perlmutter behind the scenes, Iger also took a swing at his vanquished rivals today.
“Now that this distracting proxy contest is behind us, we’re here to focus 100% of our attention on our most important priorities, growth and value creation for our shareholders and creative excellence for our consumers,...
Once the vote results were announced this morning during Disney’s annual meeting of shareholders, the past and present CEO address the virtual meeting to thank “shareholders for your trust and confidence in the Disney board and management and the ambitious strategy we’re implementing across our businesses to build for the future.”
Of course, having had to fend off a direct challenge to his leadership from Peltz’s Trian Group and Ike Perlmutter behind the scenes, Iger also took a swing at his vanquished rivals today.
“Now that this distracting proxy contest is behind us, we’re here to focus 100% of our attention on our most important priorities, growth and value creation for our shareholders and creative excellence for our consumers,...
- 4/3/2024
- by Dominic Patten
- Deadline Film + TV
Disney has won its proxy battle against Nelson Peltz and Trian but may have lost the war.
Almost immediately after it was announced that the current Disney board would remain intact during their 2024 Annual Meeting of Shareholders Webcast, Dis stock began dropping.
It would appear that the recent spike in Disney’s stock price might have been due in part to shareholders anticipating change at the House of Mouse.
“I want to thank our shareholders for their trust and confidence in our Board and management. With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers,” Iger said to CNBC.
It’s been reported that Disney spent nearly $40 million trying to fend off Trian and Blackwells, who allege that Disney has lost its way in recent years...
Almost immediately after it was announced that the current Disney board would remain intact during their 2024 Annual Meeting of Shareholders Webcast, Dis stock began dropping.
It would appear that the recent spike in Disney’s stock price might have been due in part to shareholders anticipating change at the House of Mouse.
“I want to thank our shareholders for their trust and confidence in our Board and management. With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers,” Iger said to CNBC.
It’s been reported that Disney spent nearly $40 million trying to fend off Trian and Blackwells, who allege that Disney has lost its way in recent years...
- 4/3/2024
- by Thom Pratt
- Pirates & Princesses
CEO Bob Iger says defeat of Nelson Peltz campaign will allow company to focus on ‘growth and value creation’ for shareholders
Disney saw off a boardroom coup on Wednesday, defeating a bid by one of corporate America’s most renowned activist investors to overhaul its management.
The entertainment giant announced at its annual shareholder meeting that it had secured enough votes by a “substantial margin” to defeat a campaign launched by the billionaire Nelson Peltz, who has spent months demanding change at the Magic Kingdom and excoriating its top executives.
Disney saw off a boardroom coup on Wednesday, defeating a bid by one of corporate America’s most renowned activist investors to overhaul its management.
The entertainment giant announced at its annual shareholder meeting that it had secured enough votes by a “substantial margin” to defeat a campaign launched by the billionaire Nelson Peltz, who has spent months demanding change at the Magic Kingdom and excoriating its top executives.
- 4/3/2024
- by Callum Jones
- The Guardian - Film News
In a crucial endorsement of Disney CEO Bob Iger, shareholders have elected all 12 of the media giant’s board nominees, ending the proxy fight with activist investor Nelson Peltz of Trian Partners.
The result was declared at the annual shareholders meeting on Wednesday (April 3) after a months-long campaign over control for the board that reportedly cost Disney in the region of $40m and set Peltz back by some $20m.
Shareholders elected the 12 nominees recommended by the Disney board: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman,...
The result was declared at the annual shareholders meeting on Wednesday (April 3) after a months-long campaign over control for the board that reportedly cost Disney in the region of $40m and set Peltz back by some $20m.
Shareholders elected the 12 nominees recommended by the Disney board: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman,...
- 4/3/2024
- ScreenDaily
Disney has won its proxy fight with activist investor Nelson Peltz of Trian Partners after shareholders elected all 12 of the media giant’s board nominees which included CEO Bob Iger.
The result was declared at the media giant’s annual shareholders meeting on Wednesday (April 3), ending months-long and costly campaigning over control for the board.
Shareholders elected the 12 nominees recommended by the Disney board: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W.
The result was declared at the media giant’s annual shareholders meeting on Wednesday (April 3), ending months-long and costly campaigning over control for the board.
Shareholders elected the 12 nominees recommended by the Disney board: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W.
- 4/3/2024
- ScreenDaily
Disney has succeeded in barring Nelson Peltz from its board of directors as shareholders at the company’s hotly anticipated annual meeting today voted in its slate of 12 nominees, fending off outsiders. It was a months-long bitter and costly fight.
The numbers are preliminary with official results still to be announced, but Disney said its full board slate was elected “by a substantial margin” over the nominees of Trian Group and Blackwells. Trian, Peltz’ investment firm, nominated the activist investor along with former Disney executive Jay Rasulo for the board. Another firm, Blackwells, had three nominees that never got much traction.
According to a few stats Disney provided, this was Peltz’ biggest-ever loss in a proxy fight — and he’s engaged in a few. Peltz received less than 31% of the vote. CEO Bob Iger, also on the board of course, had 94% support.
Peltz lost to Disney director Maria Elena Lagomasino by two to one,...
The numbers are preliminary with official results still to be announced, but Disney said its full board slate was elected “by a substantial margin” over the nominees of Trian Group and Blackwells. Trian, Peltz’ investment firm, nominated the activist investor along with former Disney executive Jay Rasulo for the board. Another firm, Blackwells, had three nominees that never got much traction.
According to a few stats Disney provided, this was Peltz’ biggest-ever loss in a proxy fight — and he’s engaged in a few. Peltz received less than 31% of the vote. CEO Bob Iger, also on the board of course, had 94% support.
Peltz lost to Disney director Maria Elena Lagomasino by two to one,...
- 4/3/2024
- by Jill Goldsmith
- Deadline Film + TV
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