Disney plugs latest earnings in letter to shareholders

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Disney plugs latest earnings in letter to shareholders

Disney promoted its latest financials, dividend increase and projects surrounding games, Fortnite and Taylor Swift as it urged shareholders to elect its board nominees – not directors nominated by activist investors – at the upcoming annual meeting. Which says it will promote actions as management.
“Successfully executes the company’s strategic transformation.”

“The Board of Directors of Disney urges shareholders to protect their investment and the future of the Company by voting only on white proxy cards for Disney’s 12 nominees at the 2024 Annual Meeting to be held virtually on April 3, not That for the nominees of the Trian Group or the Blackwells.”

Trian is naming its founder and CEO Nelson Peltz as well as former Disney executive Jay Russulo to the board. Blackwells has three nominees. The number of directors is fixed at 12. The candidate with the most votes wins.

The Disney nominees card is white. Trian’s card is blue. The color of Blackwells is green.

“The Disney Board of Directors does not endorse Trian Group’s nominees, Nelson Peltz and Jay Russulo, or the Blackwells’ nominees, Craig Hatcoff, Jessica Shell and Leah Sullivan, and does not believe they have the talent, Does not have the appropriate range of skills, perspective, and/or expertise to effectively support the Board’s ongoing efforts to promote profitable growth and shareholder value creation in the face of continuing, industry-wide challenges, Disney said, repeating his mantra of recent months.

However, this time there is something new to discuss. The stock closed today at more than $109, up from $90 at the beginning of the year.

“On February 7, 2024, we announced very strong results for Q1FY24 – results that demonstrate we have entered a new era at Disney. Today, the company is in a position of renewed strength,” the company’s letter to shareholders said.

“Your Board and management team are committed to driving meaningful growth and creating sustainable shareholder value into the future. Our strategy is working, as evidenced by our strong financial results and a series of exciting announcements solidifying the company’s growth path, including ESPN’s new direct-to-consumer plans, a partnership with Epic Games for Fortnite Involves transformational collaboration and investment. [of $1.5 billion] and important upcoming content releases, such as a surprise animated sequel Moana Taylor Swift’s epic concert film is coming to theaters [The Eras Tour]Which will stream exclusively on Disney+.

Disney is also teaming up with Warner Bros. Discovery and Fox to create a new streaming sports service while pooling the rights.

“The stage is now set for significant growth and success,” said CEO Bob Iger.

To help things along, Disney created a new website for shareholders, VoteDisney.com, which includes a video on how to vote and a message from CEO Bob Iger.

Disney reported earnings last week that beat estimates and narrowed streaming losses, as the division was poised to turn a profit in the company’s fiscal fourth quarter.

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