Disney Grandchildren Slam Activist Investors in Letters to Company Shareholders: ‘We Know Who the Villains Are in This Story’

George Lucas is the latest to come out in support of Disney and CEO Bob Igert as the company wages a bitter proxy fight against activist investor Nelson Peltz, who is making a run for two seats on the company’s board.

Todd Spangler NY Digital Editor Star Wars mastermind George Lucas has come out with a statement in support of Disney‘s board and CEO Bob Iger, urging Mouse House shareholders to reject a bid by two activist investor groups to take seats on the media company’s board. “Creating magic is not for amateurs,” Lucas said in a statement released Tuesday. “When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my longtime admiration for its iconic brand and Bob Iger’s leadership.” Lucas continued, “When Bob recently returned to the company during a difficult time, I was relieved.

Taylor Swift and Travis Kelce are making moves behind the scenes!

Todd Spangler NY Digital Editor Disney‘s current strategic direction under CEO Bob Iger got the thumbs-up from independent proxy voting and corporate governance advisory firm Glass Lewis, amid a campaign launched by two activist investor groups to win seats on the Mouse House’s board. Glass Lewis, in a March 18 report, recommended Disney shareholders vote for the Disney-selected 12 director nominees — and reject those put forward by Nelson Peltz‘s Trian Partners and another firm, Blackwells Capital — at the company’s annual meeting on April 3.

Proxy advisory firm Glass Lewis has recommended that Disney shareholders withhold votes for all board candidates except the company’s own.

Todd Spangler NY Digital Editor Disney+ is officially in its Taylor Swift era. With the launch of “Taylor Swift: The Eras Tour (Taylor’s Version)” on Disney+ on March 14 at 6 p.m. PT, the megastar is getting a homepage takeover on the streamer.

Disney’s latest salvo in a proxy fight with activist investor Trian Fund Management highlights the firm’s “silent partner” Ike Perlmutter and his “difficult history with Bob Iger.”

Disney shares were up 2% at mid-day Monday, extending their recent rally, as the company renewed its attacks on activist investor Nelson Peltz.

Following Disney chief Bob Iger’s very recent admission that the company had quietly canceled several projects that they didn’t wholeheartedly believe in the last few months amid belt-tightening and scaling back, a picture of what some of those projects might be is starting to emerge. In an in-depth piece from The Wrap about soon-to-be-former Disney executive Sean Bailey and his legacy— exiting after 15 years as the motion picture group’s president of production, a big shake-up in the company— some details of what may have already been put out to pasture are becoming more apparent.

Todd Spangler NY Digital Editor With American lawmakers sounding the alarm again over TikTok‘s ties to China’s communist regime, the U.S. House Energy and Commerce committee unanimously voted to approve a bill that would give China’s ByteDance 165 days to divest its ownership of TikTok — or effectively face a U.S. ban.

After skidding to multi-year lows in late-2023, Disney stock has rebounded more than 20% thus far in 2024 as two activist investment firms have launched a proxy fight.

Todd Spangler NY Digital Editor ESPN+ is now available to Charter’s Spectrum TV Select Plus customers nationwide at no additional cost — coming after the cable operator added Disney+ for free earlier this year. The addition of ESPN+, which regularly costs $10.99 per month, comes under Disney and Charter’s distribution agreement reached in September 2023 — following a 12-day blackout of ESPN and other Disney networks on Charter.

Todd Spangler NY Digital Editor Vince McMahon, the founder of WWE who resigned from the board of TKO Group earlier this year amid sexual assault allegations against him, filed to sell $411.95 million worth of TKO stock, according to a regulatory filing. McMahon’s sale comprised 5.35 million shares of TKO, per an SEC filing Monday. That came after he sold 8.4 million shares of Class A common stock in TKO — in sale worth $670.3 million — last November.

Disney CEO Bob Iger remains committed to turning the ship around, but in doing so, admits the company has had to make some hard choices and cancel projects the studio didn’t have 100% belief in. “You have to kill things you no longer believe in, and that’s not easy in this business,” Iger said, speaking at a conference hosted by Morgan Stanley in San Francisco on Tuesday (via THR).

Disney CEO Bob Iger said the studio has “killed a few projects already that we just didn’t feel were strong enough,” as the company tries to reverse a box office slump.

Disney CEO Bob Iger called the proxy fight being waged by two activist investors a campaign that “is, in a way, designed to distract us, to take our eye off all [that’s] necessary to do what we need to do to generate returns for shareholders.”

Todd Spangler NY Digital Editor Disney CEO Bob Iger acknowledged that the company is behind Netflix in terms of technical capabilities — and that the Mouse House is in the process of catching up. “We need to be at their level” of technical capability, in order to reduce marketing expenses and cut churn rates, Iger said about Netflix, speaking Tuesday at the 2024 Morgan Stanley Technology, Media & Telecom Conference. Iger reiterated that Disney is on track to achieve profitability in the streaming business — which includes Disney+, Hulu and ESPN+ — by the fiscal quarter that ends September 2024.

Todd Spangler NY Digital Editor Nelson Peltz’s Trian Partners, which is agitating to get two seats on Disney’s board, on Monday released a lengthy white paper analyzing the Mouse House’s financial performance — and suggesting strategic fixes. The recommendations, according to Trian, are aimed at turning around Disney‘s stock performance, which has trailed most of its peers (except Warner Bros.

Todd Spangler NY Digital Editor The 8th annual Crunchyroll Anime Awards just concluded in Tokyo — with “Jujutsu Kaisen” Season 2 wining a total of 11 honors, including the top prize of anime of the year. Crunchyroll revealed the winners during a live ceremony Saturday, March 2, featuring celebrity presenters and musical performances.

Todd Spangler NY Digital Editor Fubo chief David Gandler took the gloves off in lambasting the joint venture formed by Disney, Warner Bros. Discovery and Fox Corp.