Nelson Peltz Says Disney Should Bundle ESPN+ With…Netflix?
After being lambasted by both The Walt Disney Company and Blackwells for failing to develop a single strategic idea to help the company, activist investor Nelson Peltz says he believes Disney should bundle ESPN+ with a larger player interested in sports, such as Netflix.
According to sources, Peltz’s Trian Fund Management will soon publish a “white paper” detailing its investment thesis and recommendations for Disney ahead of the company’s next earnings report.
Photo: restorethemagic.com
Peltz’s ESPN Plan
Disney currently sells three streaming services together in a package. However, Peltz and Trian believe Disney should look outside the company.
At this time, it is not clear why Disney would choose to boost an outside streaming service at ESPN while trying to promote and expand its Disney+ and Hulu platforms.
Photo: ESPN
The future of ESPN and how Disney will transition the network to a direct-to-consumer product remain two of the largest questions that Bob Iger must answer.
Trian’s Bid For Board Seats
Meanwhile, Trian is seeking two seats on the Disney board, one for Peltz and one for former Disney CFO Jay Rasulo.
Photo: Variety
For their part, Disney has asked shareholders to reject the Trian nominees, questioning the motives behind Peltz and Rasulo.
Instead, the company has nominated James Gorman, former CEO of Morgan Stanley, and Jeremy Darroch, the former CEO of the Sky satellite TV service, as board members.
The Walt Disney Company
The next step in Peltz’s proxy fight will be the release of Trian’s “white paper.” Until then, we can only speculate about the activist investor’s plans.
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