DIS Shareholders and Stock Info ONLY

[wabbott]

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 )

Somewhere back some months ago - may have been on this thread or another one - someone asked why the stock price is important. If it's high, that's a sign of a healthy growing company. If it's low, you get this - folks who buy the stock low and then have ideas on how better to run the company. My piddly 450 shares - they won't listen to me. But someone who owns $1 billion - "Bob" will listen. Count on it.

 

[wabbott]

They listening already.

https://finance.yahoo.com/news/statement-walt-disney-company-letter-171600648.html

Statement From The Walt Disney Company on Letter From Third Point

Mon, August 15, 2022 at 12:16 PM

DIS
+2.43%

BURBANK, Calif., August 15, 2022--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) issued the following statement today:

"We welcome the views of all our investors. As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the COVID-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenue and profit growth in our domestic parks business.

Our independent and experienced Board has significant expertise in branded, consumer-facing and technology businesses as well as talent-driven enterprises. The Board has also benefited from continuous refreshment with an average tenure of four years."

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005597/en/
Contacts
David Jefferson
Corporate Communications
david.j.jefferson@disney.com
(818) 560-4832

 

[OKW Lover]

They listening already.

https://finance.yahoo.com/news/statement-walt-disney-company-letter-171600648.html

Statement From The Walt Disney Company on Letter From Third Point

Mon, August 15, 2022 at 12:16 PM

DIS
+2.43%

BURBANK, Calif., August 15, 2022--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) issued the following statement today:

"We welcome the views of all our investors. As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the COVID-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenue and profit growth in our domestic parks business.

Our independent and experienced Board has significant expertise in branded, consumer-facing and technology businesses as well as talent-driven enterprises. The Board has also benefited from continuous refreshment with an average tenure of four years."

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005597/en/
Contacts
David Jefferson
Corporate Communications
david.j.jefferson@disney.com
(818) 560-4832

In other words....no comment

 

[wabbott]

In other words....no comment

The fact that they put out a statement pdq says a lot, imo. It got their attention. Heck, this might be a ploy by "Bob" to jump-start the ESPN spin-off talks that he was once for. I think it's a great idea. ESPN was never a good fit for a movie/entertainment company. That's my story and I'm sticking to it!

 

[Mai Ku Tiki]

In other words....no comment

IDK. I hear that as ...."We'll take your money but mind your own beeswax...We're doing just fine."
I imagine Chapek & Co quite embarrassed by the public statement addressed to "Dear Bob."
Third Point could have made an announcement without personally calling out Chapek.

Almost sounds like Loeb is putting TWDC on notice.

AAARRRRGH! Is there a 'pirate' in our midst?

 

[wabbott]

IDK. I hear that as ...."We'll take your money but mind your own beeswax...We're doing just fine."
I imagine Chapek & Co quite embarrassed by the public statement addressed to "Dear Bob."
Third Point could have made an announcement without personally calling out Chapek.

Almost sounds like Loeb is putting TWDC on notice.

AAARRRRGH! Is there a 'pirate' in our midst?

Dead Men Tell No Tales!!!

 

[OKW Lover]

I hear that as ...."We'll take your money but mind your own beeswax...We're doing just fine."

Of course Disney didn't get any money, The hedge fund just bought stock on the market.

 

[wabbott]

https://internetcloning.com/heres-what-besides-disney-hedge-fund-third-point-recently-charged/

Here’s what, besides Disney, hedge fund Third Point recently charged
Brian Lowry10 mins ago

Third Point announced a new stake in Walt Disney Co. early Monday and said it will seek changes at the media giant.
In a letter to Disney DIS, The fund, which manages approximately $14 billion in assets, proposed cost cuts, a continuation of the dividend freeze to conserve cash and a spin-off of Disney’s ESPN business, among other proposals. Third Point purchased 1 million shares of Disney stock during the quarter ended June 30, according to the filing.

Third Point also bought nearly 1.99 million shares of Colgate Palmolive CL,
+1.18%,
and nearly half a million shares of T-Mobile TMUS,
+0.16%.

The hedge fund sold its Amazon.com AMZN,
-0.26%
and Rivian RIVN,
-4.16%
Holdings and their Dell Technologies Inc. DELL,
+0.17%,
Intuit Inc. INTU,
+0.53%
and Microsoft Corp. MSFT,
+0.53%
positions.

Third Point also sold all of its shares in Western Digital Corp. wdc,
-2.09%
and Zendesk Inc. ZEN,
-0.05%,
among other.

 

[RivShore]

Others getting some bad press for once:

https://nypost.com/2022/08/15/sea-world-guests-shocked-at-trash-overflowing-theme-park/

https://nypost.com/2022/08/15/six-flags-workers-call-for-ceos-ouster-as-attendance-plunges/

 

[clarker99]

So, is Third point just out to scare Disney? Do what we say or we will sell our stock?

At the same time didnt DIS just say at the earnings call they were looking to do something with ESPN and maintain not paying dividends? They announced a sports betting partnership idea?

Maybe Loeb just likes attn? Lol.

 

[clarker99]

Others getting some bad press for once:

https://nypost.com/2022/08/15/sea-world-guests-shocked-at-trash-overflowing-theme-park/

https://nypost.com/2022/08/15/six-flags-workers-call-for-ceos-ouster-as-attendance-plunges/

Also seen some anti-universal studios feedback due to price increases on items. Guess every other park isnt perfect? Who knew?

 

[wabbott]

https://finance.yahoo.com/news/paramount-bundled-walmart-membership-program-194446599.html

Paramount+ to Be Bundled With Walmart+ Membership Program
Todd Spangler
Mon, August 15, 2022 at 2:44 PM

Walmart reached a deal with Paramount Global to include the Paramount+ streaming service as part of the retailing giant’s Walmart+ membership program starting in September.

The Paramount+ Essential plan, which includes ads, will be available for no extra cost to Walmart+ members. In the U.S., Paramount+ Essential is regularly $4.99/month. The Essential plan does not include local live CBS stations (available only in Paramount+ Premium, $9.99/month), but it does provide NFL and UEFA Champions League games available via separate live feeds.

The move by Walmart is intended to make Walmart+, which launched in September 2020, more competitive with Amazon’s Prime by adding a streaming-entertainment component. Walmart+ costs $12.95 per month (or $98 per year), providing subscribers with same-day delivery on more than 160,000 products. Program members also can save up to 10 cents per gallon on gas at more than 14,000 participating stations nationwide and get up to six months of Spotify Premium for free.

Paramount+ offers thousands of titles, including original dramas such as “1883” and “Star Trek: Strange New Worlds”; recent films like “Sonic the Hedgehog 2”; live sports; and content from the media conglomerate’s CBS, BET, Comedy Central, Nickelodeon and MTV brands.

“Walmart customers connect with Paramount’s beloved brands, content and characters every day through a range of consumer products available throughout Walmart stores,” Jeff Shultz, chief strategy officer and chief business development officer for Paramount Streaming, said in a prepared statement. “Now, pairing Walmart’s expansive reach across the country with Paramount+’s broad and popular content that offers something for everyone is a unique opportunity to expand our partnership.”

In announcing Q2 earnings, Paramount said that Paramount+ now has 43.3 million paid customers, a net add of 3.7 million for the June quarter (including 1.2 million disconnects in Russia).

The Walmart and Paramount streaming deal was first reported by the Wall Street Journal. Walmart does not disclose the number of Walmart+ members. According to a Morgan Stanley survey in May, the service has around 16 million members compared with about 15 million in November 2021, as cited by the Journal.

“With the addition of Paramount+, we are demonstrating our unique ability to help members save even more and live better by delivering entertainment for less, too,” Chris Cracchiolo, SVP and general manager of Walmart+, said in a statement.
Last week, the New York Times reported that Walmart was in discussions with Paramount, Disney and Comcast (whose NBCUniversal division operates Peacock) about potential bundling deals for Walmart+.

 

[RivShore]

https://finance.yahoo.com/news/paramount-bundled-walmart-membership-program-194446599.html

Paramount+ to Be Bundled With Walmart+ Membership Program
Todd Spangler
Mon, August 15, 2022 at 2:44 PM

Walmart reached a deal with Paramount Global to include the Paramount+ streaming service as part of the retailing giant’s Walmart+ membership program starting in September.

The Paramount+ Essential plan, which includes ads, will be available for no extra cost to Walmart+ members. In the U.S., Paramount+ Essential is regularly $4.99/month. The Essential plan does not include local live CBS stations (available only in Paramount+ Premium, $9.99/month), but it does provide NFL and UEFA Champions League games available via separate live feeds.

The move by Walmart is intended to make Walmart+, which launched in September 2020, more competitive with Amazon’s Prime by adding a streaming-entertainment component. Walmart+ costs $12.95 per month (or $98 per year), providing subscribers with same-day delivery on more than 160,000 products. Program members also can save up to 10 cents per gallon on gas at more than 14,000 participating stations nationwide and get up to six months of Spotify Premium for free.

Paramount+ offers thousands of titles, including original dramas such as “1883” and “Star Trek: Strange New Worlds”; recent films like “Sonic the Hedgehog 2”; live sports; and content from the media conglomerate’s CBS, BET, Comedy Central, Nickelodeon and MTV brands.

“Walmart customers connect with Paramount’s beloved brands, content and characters every day through a range of consumer products available throughout Walmart stores,” Jeff Shultz, chief strategy officer and chief business development officer for Paramount Streaming, said in a prepared statement. “Now, pairing Walmart’s expansive reach across the country with Paramount+’s broad and popular content that offers something for everyone is a unique opportunity to expand our partnership.”

In announcing Q2 earnings, Paramount said that Paramount+ now has 43.3 million paid customers, a net add of 3.7 million for the June quarter (including 1.2 million disconnects in Russia).

The Walmart and Paramount streaming deal was first reported by the Wall Street Journal. Walmart does not disclose the number of Walmart+ members. According to a Morgan Stanley survey in May, the service has around 16 million members compared with about 15 million in November 2021, as cited by the Journal.

“With the addition of Paramount+, we are demonstrating our unique ability to help members save even more and live better by delivering entertainment for less, too,” Chris Cracchiolo, SVP and general manager of Walmart+, said in a statement.
Last week, the New York Times reported that Walmart was in discussions with Paramount, Disney and Comcast (whose NBCUniversal division operates Peacock) about potential bundling deals for Walmart+.

So will they add more services or is it one and done?

 

[AvidDisReader]

Well the rumor was that Disney was trying to do the exact same thing with Walmart. Those rumors can be put to sleep.

 

[Mai Ku Tiki]

Of course Disney didn't get any money, The hedge fund just bought stock on the market.

Ohhhhh. I see. Shareholders are not considered investors any longer?

 

[OKW Lover]

Ohhhhh. I see. Shareholders are not considered investors any longer?

Of course they are. I was responding to your comment that DIS got money from this company. They didn't.

 

[Jhoyer5150]

Loeb's letter is a mixed bag. At 0.4% stake (roughly $1B), his stake size is actually quite small, but he packs an outsized punch due to his name, track record, and historical acumen.

I agree with his assertion that DIS shouldn't restore the dividend anytime soon, and as park fans let's hope so as DIS needs cash flow to address the excessive debt that Bob Iger bequested to his successor, as well as fund significant capex needed for both the parks and DIS+. The Hulu early acquisition suggestion is a mixed bag; I get the rationale for it but it would require cash or debt funding now which is a tough time for it. The ESPN spin-off I'm not in favor of personally; while no longer a massive growth vehicle, ESPN still contributes an enormous amount to earnings and free cash flow and for the same reasons as not reinstating the dividend, I want that cash flow at the parent company and not a spin out.

Disney did consider the ESPN spin in the last year and allegedly tabled it - let's hope that remains the case.

Chapek is dismal on the creative front but he understands the numbers. Deliver on the streaming or else. ESPN and parks (for now, and hopefully not much longer) is used to fund DIS+ front end costs. At some point they need to make money from the streaming side. And lower the enormous debt load as a result of Iger-era binge acquisitions (ahem, Fox assets).

 

[RivShore]

Been meaning to bring this up to our little group since I caught it live on Squakbox last week - That stock "guru" Jim Cramer had similar things, as @Jhoyer5150, to say about the Fox acquisition. Stating they should take the big write-off on the ill conceived buy, sooner than later. Have any who watch the company closely seen anything about the need to write any of it off?

https://www.tipranks.com/news/cramer-calls-disney-a-hobbled-company-on-twitter

And Cramer, like so many, used the headline buy number of $71B, ignoring the fact that Disney immediatly divested at least $20B of Fox assets around the world, so the net buy is more like $50B, which includes some pretty hefty assets like 1/3rd of Hulu, the rest of Marvel, the SW distribution rights, the Avatar franchise, 100 years of Simpson episodes, and the many other Fox movie franchises.

I think they probably overpaid a bit but the overall buy made sense especially, if you are looking to build out your own streaming business and combine related properties. They not only got a bunch of content for the streaming side but they also brought properties they already had relationships with - Marvel, Hulu, SW, Avatar - fully in-house. The other option would have been seeing those properties go to Comcast/Universal, I'm sure Disney did not want that to happen yet again, so they paid up (I could see the dueling Avatar lands now). Taken in full context, I think the buy made sense, no matter what that Mad Cramer says!

 

[clarker99]

Been meaning to bring this up to our little group since I caught it live on Squakbox last week - That stock "guru" Jim Cramer had similar things, as @Jhoyer5150, to say about the Fox acquisition. Stating they should take the big write-off on the ill conceived buy, sooner than later. Have any who watch the company closely seen anything about the need to write any of it off?

https://www.tipranks.com/news/cramer-calls-disney-a-hobbled-company-on-twitter

And Cramer, like so many, used the headline buy number of $71B, ignoring the fact that Disney immediatly divested at least $20B of Fox assets around the world, so the net buy is more like $50B, which includes some pretty hefty assets like 1/3rd of Hulu, the rest of Marvel, the SW distribution rights, the Avatar franchise, 100 years of Simpson episodes, and the many other Fox movie franchises.

I think they probably overpaid a bit but the overall buy made sense especially, if you are looking to build out your own streaming business and combine related properties. They not only got a bunch of content for the streaming side but they also brought properties they already had relationships with - Marvel, Hulu, SW, Avatar - fully in-house. The other option would have been seeing those properties go to Comcast/Universal, I'm sure Disney did not want that to happen yet again, so they paid up (I could see the dueling Avatar lands now). Taken in full context, I think the buy made sense, no matter what that Mad Cramer says!

It all feels a bit short-sighted from Wall St. Getting the rest of Marvel and SW distribution rights alone was prob worth paying the price. What was the cost of not acquiring these assets? Billions over many years.

Whatever happens, DIS will do what is best for the balance sheet. If writing it off looks better they will do it. I am sure Chapek wont have an issue throwing shade on Iger's deal.

 

[wabbott]

Been meaning to bring this up to our little group since I caught it live on Squakbox last week - That stock "guru" Jim Cramer had similar things, as @Jhoyer5150, to say about the Fox acquisition. Stating they should take the big write-off on the ill conceived buy, sooner than later. Have any who watch the company closely seen anything about the need to write any of it off?

https://www.tipranks.com/news/cramer-calls-disney-a-hobbled-company-on-twitter

And Cramer, like so many, used the headline buy number of $71B, ignoring the fact that Disney immediatly divested at least $20B of Fox assets around the world, so the net buy is more like $50B, which includes some pretty hefty assets like 1/3rd of Hulu, the rest of Marvel, the SW distribution rights, the Avatar franchise, 100 years of Simpson episodes, and the many other Fox movie franchises.

I think they probably overpaid a bit but the overall buy made sense especially, if you are looking to build out your own streaming business and combine related properties. They not only got a bunch of content for the streaming side but they also brought properties they already had relationships with - Marvel, Hulu, SW, Avatar - fully in-house. The other option would have been seeing those properties go to Comcast/Universal, I'm sure Disney did not want that to happen yet again, so they paid up (I could see the dueling Avatar lands now). Taken in full context, I think the buy made sense, no matter what that Mad Cramer says!

When Cramer first started on CNBC in the 90s, I thought he was a huckster. Nothing since has changed my mind. He is a frontrunner. He makes predictions, etc, then trades on them. How/why the SEC hasn't put him out of commission baffles me.

All my opinion only, of course.

I agree with you about the Fox purchase. It is content that people want to see, and it an asset that has value. And no matter what you buy, it can be said you paid too much or too little - after the fact.