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Disney Plugs Earnings, ‘Fortnite’ & ‘Eras Tour’ Deals In Letter To Shareholders Amid Ongoing Proxy Fight
Disney touted its earnings, a dividend hike and projects with Fortnite and Taylor Swift as it urged stockholders to elect its board candidates.
Disney touted its latest financials, a dividend hike and projects around sports, Fortnite and Taylor Swift as it urged stockholders to elect its board candidates at the upcoming annual meeting — not directors nominated by activist investors that it says will gum up the works as management “successfully executes a strategic transformation of the company.” “The Disney Board of Directors does not endorse the Trian Group nominees, Nelson Peltz and Jay Rasulo, or the Blackwells nominees, Craig Hatkoff, Jessica Schell and Leah Solivan, and believes that they do not possess the appropriate range of talent, skill, perspective and/or expertise to effectively support the Board’s ongoing efforts to drive profitable growth and shareholder value creation in the face of continuing, industry-wide challenges,” Disney said, repeating its mantra of recent months. Our strategy is working, as evidenced by our strong financial results and a series of exciting announcements reinforcing the Company’s growth trajectory, including new direct-to-consumer plans from ESPN, a transformative collaboration with and investment in Fortnite’s Epic Games[of $1.5 billion] and significant upcoming content releases, such as a surprise animated sequel to Moana coming to theaters and Taylor Swift’s historic concert film[ The Eras Tour], which will stream exclusively on Disney+.”
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