Peltz says Disney proxy fight is over, citing Iger’s cost cuts

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Peltz says Disney proxy fight is over, citing Iger’s cost cuts
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Trian Partners LP founding partner Nelson Peltz said Thursday his proxy battle with Walt Disney Co. is over.

. He also said Disney’s board would consider reinstating the company’s dividend, which was suspended at the start of the pandemic.

The steps addressed two of Peltz’s biggest complaints. “We are pleased that Disney is listening,” Trian said in a statement after Iger’s announcements. Separately, Iger said in an interview with CNBC that he isn’t entirely committed to buying the one-third of the Hulu streaming TV business that Disney doesn’t already own. Disney has an agreement to purchase the stake from Comcast Corp. next year at a price that values all of Hulu at a minimum of $27.5 billion.

In the interview Thursday, Iger called Hulu a “very successful platform” and a “good consumer proposition,” but said “everything is on the table right now.” “I’m not going to speculate on whether we’re a buyer or a seller of it,” he said, adding he’s “concerned” that general entertainment programming is “undifferentiated.”

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