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☆ Disney quarterly results are on deck. Here's what to expect
▼ + stars: | 2024-05-07 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023. This will also be Disney's first earnings call since it won a proxy fight against Nelson Peltz's Trian Partners. Here is what Wall Street expects Disney to report Tuesday morning, according to LSEG:Earnings per share: $1.10 expectedRevenue: $22.11 billion expectedThe subscriber growth at its flagship streaming service, Disney+, will once again be a top focus. Last quarter Disney's direct-to-consumer unit — which also includes Hulu and ESPN+ — saw its losses narrow to $216 million from $1.05 billion in the same period a year earlier. Visitor traffic to Disney's theme parks in the U.S. will also be in focus.

Persons: Walt Disney, Mickey Mouse, Bob Iger, Nelson Peltz's Trian, Jessica Reif Ehrlich, Reif Ehrlich Organizations: Magic, Walt Disney World, Disney, BofA Securities, Hulu, ESPN, Deutsche Bank, Comcast, Universal, CNBC Locations: Lake Buena Vista , Florida, Hulu, U.S, Orlando, Universal Orlando, NBCUniversal

☆ Disney proxy battle is about a lot more than just two board seats
▼ + stars: | 2024-04-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.

Persons: —, Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: —, Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London

☆ Disney agrees to settle Florida lawsuit with special district backed by DeSantis
▼ + stars: | 2024-03-27 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Central Florida Tourism Oversight District board chairman Martin Garcia, right, delivers remarks as Florida Gov. Ron DeSantis listens during a news conference at CFTOD headquarters at Walt Disney World on Thursday, Feb. 22, 2024, in Lake Buena Vista, Florida. Disney agreed Wednesday to end litigation in state court involving a Florida special tourism district that the entertainment giant effectively controlled for more than five decades until last year after Gov. The lawsuit was originally filed in state court by the Central Florida Tourism Oversight District to void agreements the old district board had signed with Disney right before it was dissolved at DeSantis' behest after Disney opposed Florida's "Don't Say Gay" bill backed by the governor. Walt Disney World President Jeff Vahle, in a statement, said "We are pleased to put an end to all litigation pending in state court in Florida between Disney and the Central Florida Tourism Oversight District.

Persons: Martin Garcia, Ron DeSantis, Disney, Jeff Vahle, Vahle, DeSantis Organizations: Florida Gov, Walt Disney, Disney, Gov, Central, DeSantis, Republican Locations: Florida, Lake Buena Vista , Florida, Orlando, Central Florida

☆ How my group of 8 spent $5,000 on a bachelorette weekend at Disney World — and which parts were the best value
▼ + stars: | 2024-03-12 | by ( Carly Caramanna | ) www.businessinsider.com time to read: +1 min

We booked one of Disney World's most affordable hotels. Carly CaramannaI've stayed at every Disney World hotel, and to keep within budget for this trip, we stayed at my favorite affordable resort, Wyndham Lake Buena Vista. Even though it's one of the cheapest Disney World hotels, I found it to offer a complete resort experience, like on-site dining, bars, a coffee shop, and an expansive pool complex. As an official Disney World hotel, our stay came with free transportation to the theme parks, which saved us money on costly ride-share services. We booked three rooms to share for two nights, and each night only cost about $100.

Persons: Carly Caramanna I've, I've Organizations: Disney, Disney World, Disney Springs Locations: Lake Buena Vista, Disney

☆ Disney is set to report earnings after the bell – here's what to expect
▼ + stars: | 2023-11-08 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023. In its previous quarter, Disney recorded $2.65 billion in one-time charges and impairments, dragging the company to a rare quarterly net loss. Disney is also feeling pressure from activist investor Nelson Peltz, who is seeking to gain more control of the company's board. Perlmutter is one of the largest single shareholders in the company and has entrusted his stake in Disney to Peltz's Trian Fund Management. Tune in: CNBC's Julia Boorstin is set to interview Disney CEO Bob Iger at 4:05 p.m.

Persons: Walt Disney, Mickey Mouse, Bob Iger's, Nelson Peltz, There's, Ike Perlmutter, Perlmutter, Julia Boorstin, Bob Iger Organizations: Magic, Walt Disney World, –, Netflix, Disney, Marvel Entertainment, Trian Fund Management, Comcast, CNBC Locations: Lake Buena Vista , Florida, Hulu, Disney, NBCUniversal

☆ Disney sued over ‘severe’ injuries allegedly caused by ‘wedgie’ from water slide
▼ + stars: | 2023-10-02 | by ( Marnie Hunter | ) edition.cnn.com time to read: +3 min

CNN —Walt Disney Parks and Resorts is facing a lawsuit related to an “injurious wedgie” that court documents allege resulted from riding a 214-foot water slide in the resort’s Typhoon Lagoon water park in Lake Buena Vista, Florida. The suit pertains to an incident that took place on October 14, 2019, on the Humunga Kowabunga water slide during a two-week visit to Walt Disney World by plaintiffs Emma and Edward McGuinness and their family. CNN has reached out to Walt Disney World Resort for comment. In addition to the count of negligence, a second count, “loss of consortium,” relates to Emma McGuinness’ husband, Edward McGuinness. Emma and Edward McGuinness are suing for compensatory damages and taxable costs and are demanding a jury trial.

Persons: Emma, Edward McGuinness, Emma McGuinness ’, Disney, ’, ”, Walt, Disney “, McGuinness, “, Wagner, McLaughlin Organizations: CNN, Walt Disney Parks, Resorts, Walt Disney, Walt Disney World, Disney, Whittemore Locations: Lake Buena Vista , Florida, Orange County , Florida

☆ ESPN held talks with NBA, NFL and MLB in search for strategic partner, sources say
▼ + stars: | 2023-07-21 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

ESPN has held preliminary discussions with the NFL, NBA and MLB about a variety of new partnerships and investment structures, the people said. Spokespeople for ESPN, the NFL and MLB declined to comment. The NBA and Disney have broached many potential structures around a renewal of media rights, the people said. Iger said last week in an interview with CNBC's David Faber that Disney is looking for a strategic partner for ESPN as it prepares to transition the sports network to streaming. Superficially, it may make less sense for the NBA, NFL and MLB which sign lucrative media rights deals with many media partners that fuel team revenue and player salaries with a range of media companies.

Persons: LeBron James, Bob Iger, Jimmy Pitaro, Spokespeople, RedZone, Iger, CNBC's David Faber, Faber, I'm Organizations: Los Angeles Lakers, LA Clippers, ESPN, Disney, National Football League, National Basketball Association, Major League Baseball, NFL, NBA, MLB, NFL Network, NFL.com, Warner Bros, Discovery, Hearst, Professional, Comcast, Amazon, Paramount Global, Apple Locations: Lake Buena Vista , Florida, Fox

☆ The new judge in the Disney-DeSantis lawsuit is a Trump-appointee who gave the governor a win in his 'Don't Say Gay' law
▼ + stars: | 2023-06-04 | by ( Rebecca Harrington | ) www.businessinsider.com time to read: +5 min

Allen Winsor, 46, has been a US District Judge in the Northern District of Florida since 2019. Before he became a US district judge, Winsor was a judge in Florida's First District Court of Appeal from 2016-2019. Winsor previously dismissed a lawsuit challenging the 'Don't Say Gay' billIn February 2023, Winsor issued a 21-page ruling dismissing a lawsuit challenging Florida's Parental Rights in Education Act, which opponents called the "Don't Say Gay" bill. In the hour-and-a-half-long conversation, four state solicitors general discussed various federal laws and lawsuits that they felt impeded states' rights. "He does not possess the neutrality and fair-mindedness necessary to serve in a lifetime position as a federal judge."

Persons: Allen Winsor, He's, Ron DeSantis, Winsor, —, Mark Walker, Insider's Kimberly Leonard, Donald Trump, Sen, Joe Manchin, — didn't, Trump, Mr, Pam Bondi's Organizations: Northern District of, Walt Disney Parks, Resorts, Gov, Service, Walt Disney Co, Disney, US Senate, Florida's, Auburn University, University of Florida, Plaintiffs, Federalist Society, Committee, Walt Disney World, Conference, Civil, Human Rights, Associated Press Locations: Northern District, Northern District of Florida, Florida, West Virginia, Orlando, Lake Buena Vista , Florida

☆ DeSantis Disney oversight board votes to sue company over tax-district fight
▼ + stars: | 2023-05-01 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Ron DeSantis to oversee Walt Disney World's operations voted Monday to sue Disney in response to the company's recent federal lawsuit alleging a campaign of political retaliation by the governor. The panel, which challenged the company's long-standing self-governing status when it replaced a Disney-backed board weeks earlier, unanimously voted to authorize a lawsuit in state court. Disney sued DeSantis last Wednesday and the oversight panel in U.S. district court in Tallahassee, Florida. DeSantis, who is expected to announce his presidential plans after the Florida state legislature ends in early May, is considered a top contender against former President Donald Trump. But the extended row against Disney, one of Florida's top employers, has recently begun to generate criticism from some of DeSantis' fellow Republicans.

It will not work,” said Martin Garcia, chairman of the DeSantis-picked Central Florida Tourism Oversight District board of supervisors. Wednesday’s moves are the latest escalation in the fight between DeSantis and Disney as DeSantis moves toward a 2024 presidential bid. Disney responded by suing DeSantis, the board and Florida Department of Economic Opportunity acting secretary Meredith Ivey, seeking to block the board’s moves. But the special district also freed Disney from bureaucratic red tape and made it cheaper to borrow to finance infrastructure projects around its theme parks, among other significant advantages. DeSantis then targeted Disney’s special governing powers.

☆ DeSantis and allies ramp up Disney fight as more Republicans criticize his tactics
▼ + stars: | 2023-04-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

DeSantis ripped Disney repeatedly this week over its recent maneuvers to thwart the governor's efforts to seize some control of the company's Orlando parks and properties. Meanwhile, his handpicked board of supervisors overseeing Disney World's special tax district increased the pressure on Disney. The board took that step two days after DeSantis floated a range of possible actions against Disney World, including developing land nearby. That legislation, dubbed "Don't Say Gay" by critics, "should never have been signed" by DeSantis, Disney said in a March 2022 statement. The state's Republican governor and GOP-held legislature targeted the special tax district that has allowed Disney to essentially govern itself for decades.

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☆ Disney announces first official LGBTQ event at Disneyland right after DeSantis threatens the company
▼ + stars: | 2023-04-18 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Shortly after, Disney publicized Disneyland's first official LGBTQ event for Pride Month. DeSantis and Disney have been publicly feuding, including over Florida's "Don't Say Gay" law. Ron DeSantis said during a press conference that he could build a state prison next to Orlando's Walt Disney World Resort. Disney tweeted on Monday afternoon that "Disneyland After Dark: Pride Nite" would be coming to Disneyland in Anaheim, California, during Pride Month. The governor, smiling, said that "another state prison" could be a good use of the land.

DeSantis told an Orlando radio station on Monday that the bill would "formally nullify" a development agreement Disney struck with outgoing members of the oversight board that ties the hands of DeSantis' appointees. "To do an end-run around the people of Florida shows how arrogant they are," DeSantis told the host of WFLA's "Good Morning Orlando." He and the Florida legislature have been working to eliminate the virtual autonomy the company enjoyed over Walt Disney World for more than century. Before the takeover by DeSantis appointees, Disney pushed through changes to the special tax district agreement that limit the board's action for decades. It also ensures that future boards would honor a commitment to $527 million in planned capital improvements to support Walt Disney World’s growth over the next decade.

April 11 (Reuters) - Florida Governor Ron DeSantis's newly formed oversight board is seeking to assert control over development in two cities where Walt Disney World Resort is located, the latest twist in a battle for authority over the company's Florida theme parks. A resolution, seen on Tuesday by Reuters, would give the Central Florida Tourism Oversight District board the power to review and evaluate development in the 25,000-square acres of property in and around Walt Disney Co's (DIS.N) theme parks. The district would hold "superior authority and control" over planning, zoning and other land use in the cities of Bay Lake and Lake Buena Vista, under a Florida law that formed the state-appointed oversight board. A spokesperson for Lake Buena Vista and Bay Lake did not respond to Reuters' request for comment. A spokesperson for the oversight board referred inquiries to an attorney, who was not immediately available for comment.

☆ Do You Need a Fixer for Your Disney Vacation?
▼ + stars: | 2023-03-17 | by ( Jacob Passy | ) www.wsj.com time to read: 1 min

LAKE BUENA VISTA, Fla.— How much would you pay for a perfect day at Disney ? Walt Disney World is ever harder to navigate, thanks to heavy crowds, higher prices and a system of rides and reservations that can require families to plan visits with near-military precision. Enter Disney fixers, tour guides with no affiliation to the company, offering to plan your visit and use their understanding of the parks to maximize the magic.

☆ Ron DeSantis Appoints Allies to Oversee Disney’s Special-Tax District
▼ + stars: | 2023-02-27 | by ( Arian Campo-Flores | ) www.wsj.com time to read: 1 min

Florida Gov. Ron DeSantis signed into law legislation ending Walt Disney Co.’s control of a special-tax district near Orlando and named new members to the state-controlled board that now governs it. “The corporate kingdom finally comes to an end,” Mr. DeSantis, a Republican, said at a bill-signing event at a fire station in Lake Buena Vista. “There’s a new sheriff in town and accountability will be the order of the day.”

[1/3] A Walt Disney World photographer holds a Pride rainbow-coloured Mickey Mouse cutout before the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio JonesFeb 27 (Reuters) - Florida Governor Ron DeSantis on Monday signed a bill that asserts state oversight on the land surrounding Walt Disney World, dramatically changing a special tax district that for half a century allowed Walt Disney Co (DIS.N) to operate with a high degree of autonomy. “The corporate kingdom finally comes to an end,” DeSantis said during a press event at Lake Buena Vista in Orlando. In March, Disney’s then-chief executive officer, Bob Chapek, publicly voiced disappointment with the bill limiting LGBTQ discussion in schools, saying he called DeSantis to express concern about the legislation becoming law. Disney World is the largest employer in central Florida with close to 75,000 employees and drew 36.2 million visitors in 2021, according to the Themed Entertainment Association.

☆ Americans are spending despite high inflation. Good for a couple Club stocks
▼ + stars: | 2023-02-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

E-commerce spending declined 2% year-over-year in January, Bank of America said Monday, as Americans shifted their spending towards leisure activities. The Club take Consumer spending remains healthy, despite stubbornly high inflation, and it would appear many shoppers have additional savings to dole out. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. In this handout photo provided by Walt Disney World Resort, guests stop to take a selfie at Magic Kingdom Park at Walt Disney World Resort on July 11, 2020 in Lake Buena Vista, Florida. Matt Stroshane | Walt Disney World Resort | Getty Images

☆ Wall Street expects these 2 fairly valued Club stocks to keep up their strong starts to 2023
▼ + stars: | 2023-02-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Here's what we looked for, using data compiled by FactSet: Year-to-date gains of 10% or more, based on Thursday's close. Have 10% upside or more to analyst community's average price target, based on Thursday's close. Have a price-to-earnings-growth (PEG) ratio at, or below, the S & P 500's PEG ratio. The PEG ratio is a way analyze a stock's value, offering another layer of considerations compared with the traditional price-to-earnings ratio. That's why we wanted to find Club stocks with a PEG ratio below the S & P 500's PEG ratio of 1.64.

☆ A battle between Disney and activist Peltz brews. Here’s how the situation may unfold
▼ + stars: | 2023-01-14 | by ( Kenneth Squire | ) www.cnbc.com time to read: +4 min

Disney offered Peltz, founding partner of Trian Fund Management, a role as a board observer and asked him to sign a standstill agreement, which Peltz declined. Offer of a board observer positionSometimes a board observer position can be beneficial, particularly for investors who do not have a lot of board experience and are less likely to be a regular contributor to board discussions. But offering Peltz a position as a board observer is like saying to Whitney Houston, "You can join the band, but you are not allowed to sing." It is curious as to why Peltz started this proxy fight in the first place and why Disney is resisting it. Peltz acquired his position when Bob Chapek was CEO and likely had a plan to replace him with someone Peltz had already identified.

☆ Disney Tax District Shores Up Development Plans Amid Florida Tensions
▼ + stars: | 2023-01-12 | by ( Robbie Whelan | Arian Campo-Flores | ) www.wsj.com time to read: 1 min

The Florida legislature in April passed a law eliminating the Reedy Creek district, which has permitted Disney to manage its theme parks and resorts in Florida with little red tape. City officials from the special tax district in Florida controlled by the Walt Disney Co. moved to make changes that would allow Disney to build new theme parks and additional hotel rooms at Walt Disney World, steps that come as the state is trying to rein in the company. At a meeting Wednesday officials from the two cities that make up the Reedy Creek Improvement District, Lake Buena Vista and Bay Lake, Fla., approved a resolution to consider changing land-use regulations to accommodate the district’s comprehensive plan, which serves as a 10-year road map for development at Walt Disney World, according to minutes of the meeting and a spokeswoman for Reedy Creek.

☆ Disney is about to report quarterly earnings. Here's what to expect
▼ + stars: | 2022-11-08 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

View of the Walt Disney statue in front of Cinderella Castle inside the Magic Kingdom Park at Walt Disney World Resort in Lake Buena Vista, Florida. All eyes will be on Disney 's streaming numbers when the company reports its fiscal fourth-quarter earnings after the bell Tuesday. While Netflix expects subscriber growth to rebound, uncertainty has left analysts and investors wondering what the future holds for the broader industry. Analysts are anticipating Disney+ subscriber adds of roughly 8 million for the period between July and September, bringing the total number of users to more than 160 million, according to StreetAccount estimates. There's also concern that a looming recession could impact Disney's other business ventures like its parks and studio businesses.

☆ Two Florida medical boards advance ban on gender-affirming care for minors
▼ + stars: | 2022-11-04 | by ( Zachary Schermele | ) www.nbcnews.com time to read: +4 min

Florida’s state medical boards voted Friday afternoon to approve the language of a first-of-its-kind rule banning gender-affirming care for transgender minors who don’t already receive it. The rule updates the medical standards of practice in the state to mostly prohibit health care professionals from starting treatment for gender dysphoria in those younger than 18. Gender dysphoria refers the stress and discomfort some experience when their gender identity doesn’t match their sex assigned at birth. The measure bans the prescription of puberty blockers or hormone therapy to new patients who are minors, and it forbids gender-affirming surgeries. In a statement Friday, Equality Florida said once the rule goes into effect, it will be the only ban in the country of gender-affirming care for minors instituted by a state medical board.

☆ DeSantis went to battle with Disney, but he didn't mention he got married there
▼ + stars: | 2022-11-04 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +8 min

Ron and Casey DeSantis got married at the Walt Disney World Resort in 2009.in 2009. But details of the DeSantis Disney wedding, known to an estimated 150 guests in attendance at the September 26, 2009, nuptials, hasn't previously been reported. Three people confirmed the location to Insider, which learned of the DeSantis wedding location while reporting a story about Casey DeSantis. Octavio Jones/Getty ImagesDeSantis revoked Disney's special carve-outThe Disney wedding venue is the latest news to emerge from the DeSantis-Disney saga. Disney is Florida's largest private employer through its Walt Disney World theme park and resort, and the company has championed gay rights since the 1990s.

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