Disney braces for boardroom battle

Activist investor Nelson Peltz on Thursday bid for a seat on the board of Walt Disney Co (DIS.N), stirring the pot for what appears to be a boardroom battle brewing at the Magic Kingdom.

This comes after company veteran Bob Iger returned to the helm at the Marvel-parent to help a push for profitability at its streaming business, Disney+.

Peltz’s Trian Fund, after Third Point’s Daniel Loeb, have pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry. Reuters