DIS Shareholders and Stock Info ONLY

[wabbott]

https://finance.yahoo.com/news/disney-appoints-carolyn-everson-board-202523378.html

Disney names Carolyn Everson to board in deal with activist investor Third Point
Fri, September 30, 2022 at 3:25 PM

(Reuters) -Walt Disney Co on Friday announced a truce with activist investor Third Point, saying it would appoint tech and media veteran Carolyn Everson to the board with the support of the shareholder.

The hedge fund, led by billionaire investor Daniel Loeb, said in August it planned to push the entertainment and media conglomerate to make a string of changes, from spinning off cable sports channel ESPN to buying back shares and adding new board members.

However, Third Point reached an agreement with Disney on Friday to not present any proposal at any stockholder meeting until 2024, as long as Everson remains on the board, and to vote in accordance with the board's recommendations.

The activist shareholder also agreed to not raise its stake in the company to over 2% and to vote in favor of the slate of directors nominated by Disney's board.

Third Point did not immediately respond to a Reuters request for comment.

Loeb had exited his position in the company, known for its theme parks and movies like "Aladdin" and "Frozen", months earlier when fears about rising prices and faster interest rate hikes sparked a sharp market selloff, before re-investing nearly $1 billion in the company in August for a 0.4% stake.

Chief Executive Bob Chapek, who confirmed reports there were enquiries made to buy ESPN, told Reuters earlier this month he believes the sports television network is an asset to the company.
Everson, 50, who is on Coca-Cola's board, has worked with Meta Platforms' Facebook where she ran the global marketing and ad sales team for the social media giant.

Most recently, Everson was president of Instacart and her career has included leadership roles at Microsoft Corp and at Viacom, now part of Paramount Global.

 

[wabbott]

https://www.wsj.com/articles/disney...-executive-to-board-11664573740?siteid=yhoof2

Disney, Activist Investor Agree to a Standstill as Entertainment Giant Adds Tech Executive to Board
Carolyn Everson’s appointment comes a month after Dan Loeb demanded that Disney ‘refresh’ its board, cut costs and buy the rest of Hulu
By Robbie Whelan
Updated Sept. 30, 2022 7:41 pm ET

Walt Disney Co. (DIS -3.20%) said it has added Carolyn Everson, a veteran technology and media executive, to its board of directors one month after activist investor Dan Loeb sent a letter to Disney Chief Executive Bob Chapek asking him to “refresh” the board.

Mr. Loeb’s hedge fund, Third Point LLC, and Disney said Friday they agreed to a standstill over the makeup of Disney’s board of directors, which means the fund won’t propose its own slate of board members at the company’s next annual meeting.

Adding a board member during the course of the fiscal year is unusual for a big company like Disney. Changes to the board typically occur as part of the annual meeting.

Ms. Everson, 50 years old, was most recently president of grocery delivery company Instacart Inc., a position she left after about four months. For 10 years before that, she was vice president of the global business group at Facebook Inc., now known as Meta Platforms Inc. In that role, she helped craft media strategy and focused on advertising sales.

She will join Disney’s board, effective Nov. 21, and will be included in the company’s slate of directors in its 2023 proxy statement, the company said Friday.

Ms. Everson’s new role marks the second time Disney and Mr. Loeb have come to an understanding about the demands the hedge-fund manager made in an August letter to the company when he took a new stake in Disney’s stock after liquidating a position earlier this year.

Mr. Loeb at the time asked the company to make several changes, including spinning off sports network ESPN, buying the remaining one-third stake in streaming service Hulu that it doesn’t currently own from Comcast Corp.’s NBCUniversal and adding board members with more experience in digital ads and consumer data.

Disney initially resisted the notion its board needed a refresh, saying it already has expertise in consumer-facing and technology businesses. It said the board changes often, with directors having an average tenure of four years.

In the August letter, Mr. Loeb wrote that his fund had identified potential directors that it would be satisfied with and offered to introduce them to Disney leadership. Mr. Loeb, through a spokeswoman, declined to comment on whether Ms. Everson’s name was on his list of potential board members. Disney said she was identified after a lengthy and comprehensive search.

Mr. Loeb has a longstanding relationship with Disney leadership due to the fund’s earlier stakes and has proposed changes to the company in the past. Recently the two parties have been in frequent communication, both have said.

Earlier this month, Mr. Loeb backed off his demand that ESPN be spun off, writing on Twitter that he had gained a better understanding of ESPN’s potential as a stand-alone business compared to remaining a part of Disney, but said his other suggestions still stand.

Mr. Loeb still wants Disney to cut administrative and production costs, and if possible to buy out Comcast’s stake in Hulu before an agreement to send the matter to arbitration takes effect in 2024, said people familiar with Mr. Loeb’s thinking.

“We are pleased with our productive and ongoing dialogue with Bob and Disney’s management team,” Mr. Loeb said in a statement Friday, adding that Ms. Everson, who previously was chief operating officer of media giant Viacom, added an important new perspective to the board.

 

[wabbott]

https://www.wsj.com/articles/disney...els-on-dish-network-11664771113?siteid=yhoof2

Disney Reaches Deal to Restore Its Channels on Dish Network
Dish customers had lost access to Disney networks including ESPN and ABC during weekend blackout
By Joe Flint
Oct. 3, 2022 12:25 am ET

TV channels owned by Walt Disney Co. (DIS -3.20%) are back on Dish Network Corp.’s (DISH -2.19%) satellite broadcasting and streaming platforms after the two companies reached a tentative agreement on a new contract.

The accord ends a weekend blackout that saw millions of Dish customers lose access to several popular Disney networks including ESPN and ABC. Dish has 10 million subscribers nationwide although the company declined to say how many were affected by the blackout.

At issue were terms for a new agreement for Dish to continue carrying Disney’s broadcast and cable networks. Disney charges high fees for several of its networks including ESPN, which costs distributors nearly $9 a month, according to the research firm Kagan, a unit of S&P Global Market Intelligence.

The deal comes after Dish subscribers were unable to view ESPN and ABC’s sports programming over the weekend. By agreeing on terms, Dish Network customers won’t risk missing out on ESPN’s “Monday Night Football.”

Disney said in a statement it has reached a “handshake agreement” with Dish that reflects fair market value for its content. Terms of the agreement weren’t disclosed. Both companies will work to finalize the agreement in the coming days, Disney said.

Dish didn’t issue a statement but posted a notice on its website letting customers know that the Disney channels had been restored.

Besides ABC and ESPN, other channels that went dark included FX, Disney Channel, Freeform, National Geographic and ESPN’s various sister networks.

 

[RivShore]

Some related streaming and movie news...

https://www.cnbc.com/2022/10/04/nbc...usiness-is-better-with-new-release-model.html

 

[wabbott]

https://www.businesswire.com/news/home/20221004005469/en/

The Walt Disney Company Executives to Discuss Fiscal Full Year and Fourth Quarter 2022 Financial Results via Webcast
October 04, 2022 01:00 PM Eastern Daylight Time

BURBANK, Calif.--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) will discuss fiscal full year and fourth quarter 2022 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Tuesday, November 8, 2022.

Results will be released after the close of regular trading on November 8, 2022.

To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.

 

[wabbott]

Some related streaming and movie news...

https://www.cnbc.com/2022/10/04/nbc...usiness-is-better-with-new-release-model.html

==

https://www.businesswire.com/news/home/20221004005469/en/

The Walt Disney Company Executives to Discuss Fiscal Full Year and Fourth Quarter 2022 Financial Results via Webcast
October 04, 2022 01:00 PM Eastern Daylight Time

BURBANK, Calif.--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) will discuss fiscal full year and fourth quarter 2022 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Tuesday, November 8, 2022.

Results will be released after the close of regular trading on November 8, 2022.

To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.

Time flies when you get old. It was only 2 weeks ago that we were all dissecting the Q3 financial results, wasn't it?

 

[RivShore]

==

Time flies when you get old. It was only 2 weeks ago that we were all dissecting the Q3 financial results, wasn't it?

Agreed...unfortunately. LOL

 

[RivShore]

And from this NBCU article https://seekingalpha.com/news/3888694-nbc-streaming-service-peacock-built-growth-in-q3-ceo-says :

​

And as for the question coming down the road of who ultimately owns Hulu - Comcast (CMCSA) has a third of it, while Disney (DIS) owns the other two-thirds - Shell said "We, like a lot of other people, would want to own Hulu." ​

"That’s not what we anticipate happening, but it’s a pretty valuable asset," he says, conceding that Disney wants to buy Comcast out of Hulu before a 2024 deadline to settle the ownership.​

That almost sounds like an opening for continued joint ownership - bring over all the Peacock content and go to market with a combined offering - Hulu/Disney+/Peacock/ESPN/NBC Sports. That would be a compelling offering I would think, and Disney doesn't have to fork over $20-30B in cash for Comcast's 33%.

 

[clarker99]

https://stocks.apple.com/AQuX_Hu2mRg-aL0nt1jJoYQ

ESPN to partner with Draft Kings…

 

[BrianL]

https://stocks.apple.com/AQuX_Hu2mRg-aL0nt1jJoYQ

ESPN to partner with Draft Kings…

I'm not crazy about Disney getting into sports betting, but a partnership deal is better than them starting their own.

 

[clarker99]

CPI in the USA printed at 8.2% YoY which is higher than estimates. Markets came out cold and looked like a losing day then turned around to a great day.

How/when does this affect DIS theme park attendance?

 

[DeeBee3]

I think it will have a delayed effect with regard to park attendance. People have their holidays planned out so unless you are losing your main source of income, you will probably go ahead with your travel.

That being said, everyone's pockets will be affected greatly, if they haven't already. Wages are down and cost of living WAY up. So, eventually I see park attendance plummet when it's just not conceivable for people to put out thousands for a trip when they have regular bills to pay.

 

[Disney Bobby]

I'm not crazy about Disney getting into sports betting, but a partnership deal is better than them starting their own.

That's just semantics. Like I said in another thread, Disney isn't going broke. Just morally bankrupt.

 

[Jrb1979]

That's just semantics. Like I said in another thread, Disney isn't going broke. Just morally bankrupt.

They aren't your parents company anymore.

 

[BrianL]

That's just semantics. Like I said in another thread, Disney isn't going broke. Just morally bankrupt.

Well, as I said, I still don't like it - I would just dislike it more if they were operating it themselves.

 

[Jrb1979]

Well, as I said, I still don't like it - I would just dislike it more if they were operating it themselves.

I think they should have their own sports book using ESPN.

 

[wabbott]

https://finance.yahoo.com/news/netflix-nflx-gears-q3-earnings-162204654.html

Netflix (NFLX) Gears Up for Q3 Earnings: What's in the Cards?​

Zacks Equity Research
Fri, October 14, 2022 at 12:22 PM
NFLX
-1.08%
DIS
-1.78%

Netflix NFLX is set to report third-quarter 2022 results on Oct 18.

The company expects its third-quarter earnings to be $2.14 per share, suggesting a year-over-year decline of 20%.

The Zacks Consensus Estimate for earnings is currently pegged at $2.12 per share, unchanged over the past 30 days. The figure indicates a 33.54% decline from the year-ago quarter.

Netflix expects total revenues to increase 4.7% year over year to $7.838 billion. The consensus mark for third-quarter revenues is currently pegged at $7.85 billion, suggesting 4.91% growth from the figure reported in the year-ago quarter.

Netflix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 29.51%.

Netflix, Inc. Price and EPS Surprise​

Netflix, Inc. Price and EPS Surprise

Let’s see how things are shaping up for this announcement.

Factors to Consider​

Netflix now expects to gain one million paid subscribers in third-quarter 2022 compared with the year-ago quarter’s addition of 4.38 million.

This Zacks Rank #3 (Hold) company expects to end the third quarter of 2022 with 221.67 million paid subscribers globally, indicating growth of 3.8% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for paid memberships at the end of the period is pegged at 221.782 million, slightly higher than management’s expectation.

Netflix’s shares have lost 63.4% year to date, underperforming the Zacks Broadcast Radio and Television industry’s decline of 44.3%.

Netflix has been facing stiff competition in the streaming space from the likes of Disney+ by Disney DIS, HBO Max, Comcast’s CMCSA Peacock, Paramount+, and Apple TV+ by Apple AAPL.

Netflix’s closest competitor, Disney, benefits from the growing popularity of Disney+, owing to a strong content portfolio and a cheaper bundle offering.

Disney is also expanding into international markets. Disney+, as of Jul 2, 2022, had 152.1 million paid subscribers compared with 116 million as of Jul 3, 2021.

Comcast’s Peacock is well poised to grow, owing to its vast library of IP and new productions. Comcast is also planning to leverage Sky’s brand and scale to expand Peacock’s footprint internationally.

Apple’s streaming service, Apple TV+, is gaining recognition, with Ted Lasso season 2 winning an Emmy for Outstanding Comedy Series. Jason Sudeikis also won an Emmy for Lead Actor. This is expected to boost Apple TV+’s viewership.

However, courtesy of its diversified content portfolio, attributable to heavy investments in the production and distribution of localized, foreign-language content and an expanding international footprint, Netflix is still dominating the streaming market.

The Zacks Consensus Estimate for paid total streaming net membership gain is pegged at 1.090 million.

Netflix’s growing popularity in the Asia Pacific (APAC) and Latin America (LATAM) regions, thanks to its diversified content offerings in regional languages, is expected to have driven top-line growth.

The consensus mark for third-quarter 2022 APAC revenues is pegged at $900 million, indicating 7.9% growth from the figure reported in the year-ago quarter.

The Zacks Consensus Estimate for LATAM revenues is pegged at $1.002 billion, suggesting almost 9.5% growth from the figure reported in the previous quarter.

Moreover, the consensus mark for Europe, Middle East & Africa revenues is pegged at $2.39 billion, suggesting 1.7% growth from the figure reported in the year-ago quarter.

The Zacks Consensus Estimate for the United States and Canada revenues stands at $3.539 billion, indicating 8.6% growth from the figure reported in the year-ago quarter.

 

[wabbott]

Netflix up big today. 6.7%

 

[RivShore]

So did I miss picking up some DIS at the lows??

 

[OKW Lover]

So did I miss picking up some DIS at the lows??

Looks like it. 52 week low ~$90. Trading today ~$97. Still plenty of head room if you want in now.