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Disney Activist Investor Blackwells Floats Idea Of Splitting Up Company As It Officially Launches Proxy Fight, Nominates Three To Board
Disney activist investor Blackwells Capital urged shareholders to elect its three board nominees and floated the idea of splitting up the company.
Blackwells’ founder and chief investment officer Jason Aintabi said nominees, Jessica Schell, Craig Hatkoff and Leah Solivan, would support the company in, respectively, media and content; real estate and strategic asset review; and physical, spatial computing and AI-driven experiences. The expertise of Hatkoff, a New York real estate executive, “extends to exploring all strategic possibilities with cold eyes, including the potential separation of Disney into three entities, beginning with a management reorganization and leadership selection for each business and resulting in standalone public companies,” Blackwells said. It also floated the idea of Disney separating its owned real estate, which it says represent about 44% of its market cap, at cost, “into an independent publicly listed REIT or a series of investment vehicles in which the shares, cash and/or interests could be distributed to shareholders.”
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