Activist pressures Disney

In Washington

If it was a movie, Disney would call it “Hello there it is again”. Bob Chapek, Disney CEO, has a new concern to manage: the activist and fund manager Daniel Loeb returns to the charge by proposing adjustments to the economic model of the world number one in entertainment. The management of Disney had believed to be freed from this formidable New York financier who manages 16 billion dollars with his fund, Third Point. After campaigning in 2020 for Disney to suspend its dividend in the midst of a pandemic and betting heavily on video on demand, Daniel Loeb gave the impression of being satisfied. His advice had been followed. He had left the capital of disney by making stock market gains.

Now comes the second act. Noting that the price of the giant from Burbank (California) still shows a fall of 20% since the beginning of the year, while the S&P 500 index has lost only 4%, Dan Loeb thinks he has a good shot again to play. The investor…