Activist investor Nelson Peltz exits Disney (NYSE: DIS) after a contentious proxy battle, selling his stake at $120 per share for a $1 billion return. Following his failed bid to change the board, Disney's shares have risen 12% this year but fell 15% post-battle.
Disney's stock is poised for its worst day in a year, dropping 7.6% in premarket trading following disappointing earnings results. This decline threatens to break a three-quarter post-earnings winning streak.
Disney faces an unprecedented board showdown at its 2024 shareholder meeting, with CEO Bob Iger and two rival slates vying for control amidst a historic proxy fight costing millions.
Disney's Q1 2024 financial results are set to reflect modest gains in revenue and net income, with a keen focus on streaming profits and cost-cutting measures amid an ongoing proxy battle.
In a landmark move, Disney's ESPN, Warner Bros. Discovery, and Fox Corporation have announced the formation of a joint sports streaming platform, set to launch in the fall of 2024.
