Trump supporter Nelson Peltz sells his stake in Disney

I'm returning to Yahoo! Finance for this week's Sunday entertainment feature with Activist investor Nelson Peltz sells entire stake at Disney following proxy battle loss.

Activist investor Nelson Peltz has sold off his entire stake in Disney (DIS) after the entertainment giant successfully fended off his proxy battle. Morningstar Senior Equity Analyst Matthew Dolgin joins Catalysts to discuss what this move means for the company and its future.
Dolgin notes that while current Disney CEO Bob Iger says the company is on the right track to develop from the linear media landscape to the streaming world, it will continue to remain a challenge industry-wide. He adds, "We weren't sure if Peltz had the answer either," saying the company's transition is a still "a work in progress."
"He identified several missed steps in the past, but those are easier to identify in retrospect. He didn't necessarily have solutions," Dolgin says of Peltz. He adds, "He thought that the company should do something with its non-sports entertainment linear network, so ABC, Disney Channel, FX, those types of stations. And we don't think that would have been the right move. They still make up about a third of the company's operating profit, so to get rid of that cash now, we don't think was the answer."
Dolgin says that bundling is key in the streaming era: "It actually ends up being the most cost-effective way for consumers." He explains that bundling delivers consumers more streamlined and efficient user experiences while providing great value.
He believes that Bob Iger is the right CEO to transform the business in the streaming era, saying, "The most important thing is that someone with the entertainment background... is critical to Disney's future."

"He didn't necessarily have solutions" as Morningstar Senior Equity Analyst Matthew Dolgin said of Peltz. Disney CEO Bob Iger said something similar when CNBC Television interviewed him in Disney CEO Bob Iger: Nelson Peltz didn't bring any new ideas after the proxy fight concluded.

Disney CEO Bob Iger joins 'Squawk on the Street' to discuss the company's proxy fight win against activist investor Nelson Peltz, takeaways from his engagement with shareholders, the company's top priorities, succession plans, state of the streaming landscape, new sports streaming alliance, future of ESPN, navigating America's culture wars, and more.

Mentioning Ike Perlmutter, who "spent 'years' reportedly frustrating Marvel Studios president Kevin Feige before the lucrative film business was moved out from under his purview in 2015, and more recently wielded influence behind the scenes as his friend, activist investor Nelson Peltz, made a play to join the Disney board" makes me think that Peltz was more interested in reinstating "old" ideas than promoting new ones. It also reminds me that Peltz was a Trump supporter, as he himself stated in CNBC Television's interview on election night 2020, saying A Donald Trump win is good for America: Trian Partners CEO.

Nelson Peltz, Trian Partners CEO, joins CNBC's presidential election coverage to discuss why his support is behind President Trump as election results roll in.

Peltz reversed himself after January 6th, saying "I'm sorry I voted for Donald Trump in November." He reverted back to his original position recently, as MSNBC reported in Billionaires reverse their decision on voting for Donald Trump.


Disney doesn't need someone like Peltz trying to influence the company. He can take his money and run. Good riddance!