DIS Shareholders and Stock Info ONLY

[wabbott]

https://finance.yahoo.com/news/disn...ad-butter-ads-business-analyst-195258930.html

Disney earnings: 'Path to profitability' thanks to ads but likely won't hit 2024 target, says analyst
Alexandra Canal
·Senior Reporter
Thu, August 11, 2022 at 2:52 PM

Disney (DIS) shares continued to climb into the green on Thursday — up about 6% in midday trading — after the company posted quarterly earnings on Wednesday that crushed expectations with Disney+ subscribers jumping 14.4 million.

Despite the beat, Disney did lower its 2024 subscriber guidance. The media giant now sees 215 million to 245 million subscribers by 2024 — down from the prior 230 million to 260 million. The company anticipates 135 million to 165 million "core" Disney+ subs with its Indian brand Disney+ Hotstar's subscriber forecast set at 80 million.

"We're really thrilled that they changed guidance," Bank of America (BofA) analyst Jessica Reif Ehrlich, told Yahoo Finance Live, adding that the bank sees "a path to profitability" for the media company.

Still, the analyst cautioned that profitability may not hit Disney's intended 2024 target after Disney+, Hulu and ESPN+ lost a combined $1.1 billion in the third quarter.

She explained that the bank increased expectations for the company's direct-to-consumer losses with estimates now set at $4 billion this year, followed by a $2.5 billion loss in 2023. BofA expects the streaming business to break even by fiscal 2024.

One factor that could help Disney reach profitability includes new price hikes across its various streaming services.

 

[wabbott]

This CEO makes it clear that they are looking for different and higher spending customers...

https://nypost.com/2022/08/11/six-flags-ceo-we-became-a-cheap-day-care-center-for-teenagers/

Makes one think about DIS' strategy of keeping park admission prices high to keep the "riff-raff" out the parks, to use Walt's terminology.

 

[lugnut33]

Makes one think about DIS' strategy of keeping park admission prices high to keep the "riff-raff" out the parks, to use Walt's terminology.

Only problem is when do I become "riff raff"?

 

[Ms Bibbidi]

.

 

[Ms Bibbidi]

.

 

[wabbott]

Only problem is when do I become "riff raff"?

When folks don't know how to control their behavior in what is otherwise a very friendly crowd situation, imo.

 

[BorderTenny]

Only problem is when do I become "riff raff"?

When you Gotta keep
One jump ahead of the bread line
One swing ahead of the sword

 

[New Mouse]

I'd argue that if ticket prices are so high where you know you will not return for x years if ever, your per guest spend is going to go up on that one time trip. Great for the short term wall street hedge fund crowd.

 

[Ms Bibbidi]

.

 

[RivShore]

Makes one think about DIS' strategy of keeping park admission prices high to keep the "riff-raff" out the parks, to use Walt's terminology.

Yes! Or in 6 Flags case, the Kmart customers...

"I’m migrating a little bit from what I call the Kmart, Walmart [customer] to maybe the Target customers, if I want to say that.”

 

[Suger Mag]

Only problem is when do I become "riff raff"?

Riff Raff always causing trouble, what about Magenta?

 

[wabbott]

https://www.cnbc.com/2022/08/15/loebs-third-point-takes-new-stake-in-disney-boosting-shares.html
Hedge fund manager Dan Loeb buys a new stake in Disney and pushes for ESPN spinoff
Published Mon, Aug 15 2022 - 10:05 AM EDT Updated 2 Min Ago

Yun Li@YunLi626

Key Points

• In a letter to Disney CEO Bob Chapek, Dan Loeb said there is a strong case that the ESPN business should be spun off.
• “ESPN would have greater flexibility to pursue business initiatives that may be more difficult as part of Disney, such as sports betting,” Loeb said.
• Loeb also urged the entertainment company to integrate streamer Hulu directly into the Disney+ direct-to-consumer platform.

In this article

• DIS+1.95 (+1.60%)
  

Daniel Loeb’s Third Point has taken a new stake in Disney, pushing the entertainment giant to spin off its sports network ESPN, according to a letter obtained by CNBC’s David Faber.
The shares jumped as much as 2% on the news.

In a letter to Disney CEO Bob Chapek, Loeb said there is a strong case that the ESPN business should be spun off, saying the segment generates significant free cash flow for Disney.
“ESPN would have greater flexibility to pursue business initiatives that may be more difficult as part of Disney, such as sports betting,” Loeb said. “We believe that most arrangements between the two companies can be replicated contractually, in the way eBay spun PayPal while continuing to utilize the product to process payments.”

Disney is making more money from cable subscribers than any other company solely because of ESPN. ESPN and sister network ESPN2 charge nearly $10 per month combined, while Disney requires pay-TV providers to include ESPN as part of their most popular cable packages.

ESPN+, a streaming service with limited content, has become a stronger product in the past year as Disney moves more exclusive live games to the service. Disney said last month it will raise the price of ESPN+ to $9.99 per month from $6.99 per month starting Aug. 23, the largest price increase to date.

Secondly, Loeb urged the entertainment company to integrate streamer Hulu directly into the Disney+ direct-to-consumer platform.

Comcast has an agreement to sell its 33% stake in Hulu to Disney in two years. Loeb said Disney should “make every attempt” to acquire Comcast’s remaining minority stake before the 2024
deadline.

“We believe that it would even be prudent for Disney to pay a modest premium to accelerate the integration,” Loeb said in the letter. “We know this is a priority for you and hope there is a deal to be had before Comcast is contractually obligated to do so in about 18 months.”

Disney just came off a strong quarter with its streaming subscriber growth blowing past estimates. Disney also posted better-than-expected results on both the top and bottom line, bolstered by increased spending at its domestic theme parks.
Loeb has a history of being an activist investor in the media giant. Most recently, he had held a stake for two years from 2020 to early 2022, pushing Disney to ramp up its streaming services.
Shares of Disney are off about 20% this year.

 

[RivShore]

I had posted a few days ago that it might be time to spin off ESPN, and now...

https://seekingalpha.com/news/38729...isney-stake-touts-case-for-espn-spin-off-cnbc

Third Point's Loeb takes new Disney stake, touts case for ESPN spin-off, board refresh​

Walt Disney (NYSE:DIS) is paring some significant gains Monday morning alongside the news that Third Point and investor Dan Loeb have taken a new stake, and took the opportunity to suggest that ESPN be spun off from the overall company.

Disney stock had hit its highest point since April coming out of Monday's open; it's now up 1.3%.

Loeb sent a letter to Disney (DIS) CEO Bob Chapek, CNBC reports, encouraging him to make efforts to buy Comcast (CMCSA) out of its remaining minority stake in Hulu before a contractual deadline to do so in early 2024 - even at a "modest premium" to accelerate integration.

(Hulu was once co-owned by Disney, Fox, Comcast and Time Warner, but Disney bought Fox's media assets, and Time Warner sold its stake back to Disney and Comcast. Comcast now holds a one-third interest in the streamer.)

Loeb also says there's a strong case for spinning off ESPN, according to the report.

Updated: Third Point has filed for Hart-Scott-Rodino approval with the FTC to directly engage with Disney, and it's suggesting refreshing the board to tackle "gaps in talent and experience as a group that must be addressed," adding it's identified potential directors, Bloomberg reports.

Loeb and Third Point have also suggested a cost-cutting program that would include disposal of underperforming assets, as well as suspending the cash dividend and using free cash flow for debt repayment, stock repurchases or organic investments.

 

[RivShore]

https://www.cnbc.com/2022/08/15/loebs-third-point-takes-new-stake-in-disney-boosting-shares.html
Hedge fund manager Dan Loeb buys a new stake in Disney and pushes for ESPN spinoff
Published Mon, Aug 15 2022 - 10:05 AM EDT Updated 2 Min Ago

Yun Li@YunLi626

Key Points

• In a letter to Disney CEO Bob Chapek, Dan Loeb said there is a strong case that the ESPN business should be spun off.
• “ESPN would have greater flexibility to pursue business initiatives that may be more difficult as part of Disney, such as sports betting,” Loeb said.
• Loeb also urged the entertainment company to integrate streamer Hulu directly into the Disney+ direct-to-consumer platform.

In this article

• DIS+1.95 (+1.60%)

Daniel Loeb’s Third Point has taken a new stake in Disney, pushing the entertainment giant to spin off its sports network ESPN, according to a letter obtained by CNBC’s David Faber.
The shares jumped as much as 2% on the news.

In a letter to Disney CEO Bob Chapek, Loeb said there is a strong case that the ESPN business should be spun off, saying the segment generates significant free cash flow for Disney.
“ESPN would have greater flexibility to pursue business initiatives that may be more difficult as part of Disney, such as sports betting,” Loeb said. “We believe that most arrangements between the two companies can be replicated contractually, in the way eBay spun PayPal while continuing to utilize the product to process payments.”

Disney is making more money from cable subscribers than any other company solely because of ESPN. ESPN and sister network ESPN2 charge nearly $10 per month combined, while Disney requires pay-TV providers to include ESPN as part of their most popular cable packages.

ESPN+, a streaming service with limited content, has become a stronger product in the past year as Disney moves more exclusive live games to the service. Disney said last month it will raise the price of ESPN+ to $9.99 per month from $6.99 per month starting Aug. 23, the largest price increase to date.

Secondly, Loeb urged the entertainment company to integrate streamer Hulu directly into the Disney+ direct-to-consumer platform.

Comcast has an agreement to sell its 33% stake in Hulu to Disney in two years. Loeb said Disney should “make every attempt” to acquire Comcast’s remaining minority stake before the 2024
deadline.

“We believe that it would even be prudent for Disney to pay a modest premium to accelerate the integration,” Loeb said in the letter. “We know this is a priority for you and hope there is a deal to be had before Comcast is contractually obligated to do so in about 18 months.”

Disney just came off a strong quarter with its streaming subscriber growth blowing past estimates. Disney also posted better-than-expected results on both the top and bottom line, bolstered by increased spending at its domestic theme parks.
Loeb has a history of being an activist investor in the media giant. Most recently, he had held a stake for two years from 2020 to early 2022, pushing Disney to ramp up its streaming services.
Shares of Disney are off about 20% this year.

You beat me to it @wabbott ...as usual!

 

[Mai Ku Tiki]

Third Point/Loeb letter in full:

https://www.businesswire.com/news/h...tt-Rodino-to-Engage-Directly-with-the-Company

 

[wabbott]

Here's the letter. Reckon what "significant stake" is? What percentage of shares and at what price?

https://www.businesswire.com/news/h...tt-Rodino-to-Engage-Directly-with-the-Company

 

[wabbott]

https://twitter.com/x/status/1559218285308428288

First Squawk

@FirstSquawk


THIRD POINT HOLDS ROUGHLY $1 BILLION STAKE IN WALT DISNEY CO, OWNING 0.4 PCT OF COMPANY'S SHARES - SOURCES


11:39 AM · Aug 15, 2022·Twitter Web App

 

[wabbott]

https://companiesmarketcap.com/walt-disney/marketcap/

Market cap: $227.62 Billion
As of August 2022 Walt Disney has a market cap of $227.62 Billion. This makes Walt Disney the world's 39th most valuable company by market cap according to our data. The market capitalization, commonly called market cap, is the total market value of a publicly traded company's outstanding shares and is commonly used to measure how much a company is worth.

 

[wabbott]

https://en.wikipedia.org/wiki/Daniel_S._Loeb

 

[Mai Ku Tiki]

https://en.wikipedia.org/wiki/Daniel_S._Loeb

Oh Wow!

"Loeb's "preferred strategy" is to buy into troubled companies, replace inefficient management, and return the companies to profitability, which "is the key to his success."

And Loeb started his letter with "Dear Bob"....Very Machiavellian

(Gotta watch out for those skateboarders )