Dan Loeb re-invests in Disney, pushes for changes

Reuters Videos
1 年前

STORY: Shares of Disney rose on Monday, after billionaire investor Daniel Loeb and his hedge fund Third Point unveiled a new position in the media giant.

The activist investor is pushing Disney to make a string of changes, including spinning off Disney's cable sports channel ESPN, to improve the company's fortunes.

In a letter to Disney's CEO, Loeb laid out his suggestions, which also include cost cutting, integrating Hulu into the Disney+ streaming platform and buying back shares.

Loeb made a u-turn on Disney by buying a stake in the second quarter not long after liquidating his firm's position in Disney in the first quarter.

Disney was not immediately available for comment.

Shares of Disney have bounced back from a more than two-year low hit last month, but the stock is still down nearly 40% since its peak in March of last year.

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