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2022-08-17

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Hedge Fund Third Point Takes New Stake in Walt Disney New York-based hedge fund Third Point has taken a new stake in Walt Disney , it was revealed on Monday. Back in May, it was reported that Daniel Loeb, Third Point's founder and chief executive, liquidated its position in Walt Disney during the first quarter after previously urging the company to spend more aggressively on its streaming platform. However, they have now taken a new stake in the media and entertainment powerhouse. Loeb, in a letter to Disney CEO Bob Chapek, set out five points where they believe Disney could be better off, including cutting costs, suspending payment of its cash dividend, integrating Hulu directly into the Disney+ DTC platform, attempting to acquire Comcast's remaining minority stake, the ESPN business being spun off to shareholders, and changes to the current board.
Hedge Fund Third Point Takes New Stake in Walt Disney New York-based hedge fund Third Point has taken a new stake in Walt Disney , it was revealed on Monday. Back in May, it was reported that Daniel Loeb, Third Point's founder and chief executive, liquidated its position in Walt Disney during the first quarter after previously urging the company to spend more aggressively on its streaming platform. However, they have now taken a new stake in the media and entertainment powerhouse. Loeb, in a letter to Disney CEO Bob Chapek, set out five points where they believe Disney could be better off, including cutting costs, suspending payment of its cash dividend, integrating Hulu directly into the Disney+ DTC platform, attempting to acquire Comcast's remaining minority stake, the ESPN business being spun off to shareholders, and changes to the current board.

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