Nelson Peltz‘s Trian Fund Management reacted to Disney’s Q1 earnings report earlier today, specifically expressing their disappointment in Disney’s streaming numbers, according to The Wrap.
- A spokesperson for Trian offered the following statement in response to Disney’s quarterly earnings call today:
- “It’s déjà vu all over again. We saw this movie last year and we didn’t like the ending.”
- The quote is a reference to a Taylor Swift lyric, which is fitting due to the announcement of The Eras Tour (Taylor’s Version) hitting Disney+ next month.
- It also references the fact that Disney+ subscribers fell by 1.3 million since last year, though streaming losses were cut to $216 million.
- The quote also came after Disney CEO Bob Iger said in a previous interview that the “last thing” the company needs is activist investors interfering in plans for Disney’s future.
- Iger went on to say:
- “I think if you look at the results that we just announced… that is the result of a team that is motivated, that is focused, and now all of us are very optimistic. The last thing that we need right now is to be distracted in terms of our energy, by an activist or activists that, frankly, have a completely different agenda and don’t understand our company, its assets, even the essence of the Disney brand.”
- At Disney’s Annual Meeting of shareholders, which will be held on April 3, Peltz and Trian will seek to take over the seats of Disney board members Michael B.G. Froman and Maria Elena Lagomasino.