Read previewThe proxy war between Disney and billionaire activist investor Nelson Peltz is over. According to The Wall Street Journal, Peltz's hedge fund Trian Partners may have profited about $300 million by waging a 16-month proxy battle against Disney, citing anonymous sources familiar with the matter. AdvertisementLast February, Bloomberg reported that Peltz made about $154 million in paper profit after buying 9.4 million shares of Disney. After all, Peltz waged two separate proxy battles against Disney in less than two years. AdvertisementWhen asked about the outcome of Peltz's proxy war, IAC chairman and billionaire Barry Diller told CNBC's Squawk Box on Thursday that the battle was a "grand waste of time" and questioned the value of Petlz's activist campaign.

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Persons: —, Nelson Peltz, Bob Iger, Iger, Peltz …, Peltz, Trian, James Park, Barry Diller, CNBC's Organizations: Service, Disney, Wall Street, Business, Bloomberg, The, University of California, IAC, Trian Partners Locations: Los Angeles