And some other options to boost profits...
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In a letter to Disney CEO Bob Chapek on Monday, Loeb disclosed a "significant stake" in the entertainment giant and asked it to consider five initiatives, including:
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In a letter to Disney CEO Bob Chapek on Monday, Loeb disclosed a "significant stake" in the entertainment giant and asked it to consider five initiatives, including:
- A cost-cutting program that addresses margins and "the disposal of excess underperforming assets"
- Preserving a suspension of its dividend initiated during the COVID-19 theme park closures and using free cash flow to pay down debt, repurchase shares or organically reinvest in the business
- Acquiring Comcast's 33% minority stake in Hulu prior to its contractual deadline in early 2024 and integrating the streaming service into Disney+
- Spinning off sports network ESPN
- Refreshing the company's board with members who have experience in technology, advertising, and consumer engagement
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Disney responds to letter from activist investor Dan Loeb
The Third Point CEO has called on the House of Mouse to consider a series of initiatives, including a cost-cutting program, board refresh, EPSN spinoff and integration of Hulu into Disney+.
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