Headline RoundupApril 3rd, 2024

Disney Shareholders Reject Activist Investors in Proxy Battle

Summary from the AllSides News Team

Walt Disney Co. shareholders voted against a group of activist investors on Tuesday and Wednesday, ending a hotly-contested proxy battle over the management of the entertainment giant.

The Details: The activist investors, led by billionaire Nelson Peltz and Trian Fund Management, argued that Disney had “lost its way” because the board lacked “focus, alignment, and accountability” on issues like streaming profitability. The vote was widely framed as a win for Disney CEO Bob Iger, whose job was not on the line but who championed the Disney board’s side. 

How the Media Covered It: Some headlines displayed mild sensationalism, using language like “triumphs” and “vanquishes.” The New York Post (Lean Right bias) described the proxy battle as “bitter,” and Deadline (Center bias) described the vote as “Disney D-Day.” Some headlines highlighted that Peltz was a billionaire, potentially appealing to negative attitudes about billionaires; Iger, while reportedly not a billionaire, was worth about $690 million in 2019, according to Forbes (Center bias).

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