Disney+ sits on a laptop in the Brooklyn area of New York, United States, on Monday, July 18, 2022.
Gaby Jones | Bloomberg | Getty Images
Disney have reached an agreement with activist investor Dan Loeb’s Third Point, which includes adding former Meta CEO Caroline Iverson to its board, Comp said on Friday.
The deal comes weeks after Third Point took over new share At Disney it was valued at about $1 billion, or 0.4% of the company, and urged the media company to put up its sports property, ESPN.
Initially, Loeb said cutting off ESPN would give Disney more flexibility to pursue sports betting and other business initiatives. However, soon after the lube reverse path.
“We have a better understanding of the potential of @espn as an independent company and another vertical for $DIS to reach a global audience to generate ad revenue and subscribers,” Loeb said earlier this month in a tweet.
On Friday, Disney said in public file, With the support of Third Point, it will add Everson to its board of directors ahead of its November board meeting.
As part of the deal, Third Point agreed to some terms of the freeze, including that it would not take a stake in Disney greater than 2% and that it would not solicit agents or submit proposals. According to the filing, Third Point will also not participate in Board nominations.
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