Disney shareholders celebrated a major victory this week as they reelected the media conglomerate’s full board. The preliminary results delivered a stinging defeat to activist Nelson Peltz and former Marvel CEO Ike Perlmutter, who had been pushing for changes within the company. The board’s decisions, including bringing back CEO Bob Iger and efforts to reinvigorate
Business
In a surprising turn of events, Bloomberg News reported that Disney’s largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz’s Trian Partners in an upcoming board vote. This decision comes as a blow to Peltz’s ambitions to join Disney’s board, considering that Vanguard holds a significant 7.8% of Disney shares. The
General Motors recently reported a 1.5% decline in first-quarter US vehicle sales compared to the previous year. While the decline was largely attributed to a substantial drop in fleet sales, retail sales to customers actually increased by 6%. This mixed performance indicates that GM is facing some challenges, especially when compared to industry expectations for
The spring housing market has surprised many experts by defying expectations that prices would cool and competition would ease. Despite higher mortgage rates, which typically cool both prices and demand, the housing market remains hot. The lack of homes for sale is a major contributing factor to the high prices. The lock-in effect is preventing
In a strategic move, private equity firm Silver Lake has announced its acquisition of entertainment company Endeavor Group Holdings for $27.50 a share. This acquisition will see Silver Lake taking full ownership by acquiring 100% of the shares it does not already own. With Endeavor being acquired at an equity value of $13 billion, this
The recent decision by the Biden administration not to increase payments for private Medicare plans has had a significant impact on U.S. health insurers. Following the announcement, shares of several major health insurance companies took a hit on Tuesday. For instance, CVS Health experienced a decrease of more than 8%, while UnitedHealth Group saw its
Disney, once the king of the global box office, has seen a significant decline in revenue and operating income in recent years. In 2019, the studio had an impressive run with seven billion-dollar films contributing to a total global box office haul of over $13.2 billion. However, the picture looks vastly different in 2022 and
In a historic turn of events, the superstar women’s college basketball matchups on Monday night not only drew in viewers but also set new records in sports betting. FanDuel reported that the Louisiana State University versus Iowa game was its biggest betting event ever for women’s sports. This surge in betting activity comes at a
As the streaming landscape continues to evolve rapidly, it is becoming increasingly reminiscent of the traditional cable model it once aimed to replace. This shift is evident in the talks of platform bundles, the introduction of ad-supported plans by major streamers, restrictions on password sharing, and a focus on live sports coverage. The primary goal
Bally’s Corporation, the operator of the famous Tropicana in Las Vegas, is currently facing a pivotal moment in its history. The company’s Chairman, Soo Kim, along with the private equity fund Standard General, has made a bid to take Bally’s private at $15 per share. This move has sparked a debate among high-profile investors who