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☆ DeSantis-picked board seeks new taxes and affordable housing at Disney after the company's 'blatant and hostile' grab for control
▼ + stars: | 2023-04-19 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

DeSantis' board overseeing Disney is considering new taxes, public transit, and housing. The board met for the first time since Disney's surprise maneuver. The five-member board met Wednesday for the first since Disney stealthily arranged a deal that would allow the theme park and resort to maintain control of its land, virtually in perpetuity. Much of the meeting made the legal case for the new board moving ahead, despite the maneuver Disney pulled last month. Firefighters who work for Disney's district said the previous board failed to give them the resources they needed to do their jobs, including new ambulances, even as Disney grew.

☆ 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.

April 17 (Reuters) - Florida Governor Ron DeSantis on Monday fired another shot in his battle with Walt Disney Co (DIS.N), saying the state's Republican legislature would take steps to nullify the company's effort to circumvent state oversight of Walt Disney World. DeSantis said the new bill, announced on Monday, would return control of the special district that is home to Disney World to a state oversight board run by the governor's appointees. [1/2] People gather ahead of the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. 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.

☆ Mike Pence in pink boots, Ron DeSantis in a big ball gown. Here's how the 'RuPublicans' Instagram account uses AI art to call out GOP lawmakers — by dressing them in drag.
▼ + stars: | 2023-04-14 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

The "RuPublicans" Instagram account posts AI-generated pictures of GOP lawmakers in full drag. The images range from Mike Pence in sparkly pink boots to Ron DeSantis in a big ball gown. The images are the work of an Instagram account called "RuPublicans," which uses AI to dress Republican lawmakers in drag — complete with frills, feathers, jewels, and wigs. Some of the GOP lawmakers in drag have a history of pushing anti-trans rhetoricSeveral GOP lawmakers that the "RuPublicans" account called out have, in the past, pushed anti-trans messages. Representatives of Pence, DeSantis, Graham, Cruz, Hawley, and McConnell did not immediately respond to Insider's requests for comment sent outside regular business hours.

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.

☆ DeSantis seeks to void Disney's Florida board agreement
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] 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 JonesApril 8 (Reuters) - Florida Governor Ron DeSantis ramped up his fight against Walt Disney Co (DIS.N), seeking to void an agreement that Disney passed to limit the power of a board appointed by DeSantis to oversee its Florida theme park property. On Thursday in remarks made at Hillsdale College in Michigan, DeSantis said the legislature would void changes Disney made shortly before it lost control of the board. Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "What Disney has tried to do is they have tried to say that they should be able to operate outside the context of our constitutional system in Florida," DeSantis said on Thursday.

☆ DeSantis wins with Disney co-dependency
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 4 (Reuters Breakingviews) - For Walt Disney (DIS.N) Chief Executive Bob Iger, action speaks louder than words. During the Magic Kingdom’s annual shareholder meeting on Monday, Iger took a shot at Florida Governor Ron DeSantis, calling him “anti-business” for his retaliation involving Disney World. DeSantis, for those keeping score, signed a law in February that gives Florida control of Disney’s theme park district, stripping some of its autonomy. The irony is that Iger plans to shower Florida with $17 billion over the next 10 years, he said at the meeting. Iger’s decision to plow more money into Florida only tethers him more to DeSantis’ whims.

☆ Why fans say trips to Disney World are now 'incredibly complicated' to pull off
▼ + stars: | 2023-04-03 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +12 min

But some travelers aren't thrilled about what it takes to pull off a trip to Walt Disney World these days. He said he goes to Disney World about "once a month." They will leave thinking food at Disney World is a "cheeseburger and a hot dog … which could not be farther from the truth," he said. Walt Disney World comprises four theme parks, two water parks and dozens of themed hotels, plus a shopping and entertainment area called Disney Springs. He called Disney World an "amazing spa destination" and said Disney Springs, formerly known as Downtown Disney, has shopping, live music and fantastic restaurants.

☆ The return of Bob Iger: Disney CEO makes moves that should please investors
▼ + stars: | 2023-04-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

When Iger returned as CEO of Disney back in November 2022 , he promised to implement cost reductions and clean up the House of Mouse. Disney ditches metaverse The news: CNBC confirmed on Tuesday that Disney is getting rid of a small division focused on deploying metaverse initiatives. Disney's metaverse layoffs are part of Iger's broader corporate restructuring plan. Under Iger, Disney bought Marvel from Perlmutter in 2009 in a $4 billion deal. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Florida insiders react with shock, amusement, and dread after Disney outmaneuvers DeSantis to keep most of its power
▼ + stars: | 2023-03-31 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

It appears Walt Disney World won't be losing power over its land after all — at least not yet — following a high-profile battle with Republican Gov. "It was a pretty brilliant move by the outgoing board to basically take all the power away," one Florida-based lobbyist, who spoke on condition of anonymity, told Insider. Ron DeSantis got married at Disney World in 2009. Aubrey Jewett, a political science professor at the University of Central Florida who co-authored the book "Politics in Florida," told Insider. The company told Insider in a statement that it was "discussed and approved in open, noticed public forums."

☆ Disney's Florida surprise: an end run around DeSantis
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] People gather at the Magic Kingdom theme park before the "Festival of Fantasy" parade at Walt Disney World in Orlando, Florida, U.S. July 30, 2022. Florida lawmakers passed a bill in February giving Governor Ron DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "It completely circumvents the authority of this board to govern," board member Brian Aungst Jr. was quoted as saying. Disney's then-chief executive officer, Bob Chapek, publicly voiced disappointment with the measure, saying he called DeSantis to express concern about it becoming law. In a move political observers viewed as retaliation for Disney's criticism of the Parental Rights in Education Act, Florida lawmakers passed legislation that ended Disney's virtual autonomy in developing 25,000 acres in central Florida where its theme parks are located.

[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.

☆ DeSantis told ex-Disney CEO Bob Chapek to stay out of Florida's fight over 'Don't Say Gay' bill, book says
▼ + stars: | 2023-02-27 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

In the book, DeSantis wrote that Chapek called him as Disney heard an outcry over the legislation, which critics have dubbed the "Don't Say Gay" bill. DeSantis' book, set to be published Tuesday, is the latest indication that the high-profile Republican is gearing up for a 2024 presidential run. But Disney "ultimately caved to leftist media and activist pressure," DeSantis wrote. DeSantis signed the bill into law in March 2022. Earlier Monday, DeSantis signed a bill giving the state new power over the area that has long granted Disney special self-governance abilities.

☆ Hong Kong spreads its wings, and its bets
▼ + stars: | 2023-02-23 | by ( Una Galani | ) www.reuters.com time to read: +7 min

HONG KONG, Feb 23 (Reuters Breakingviews) - For a sign that Hong Kong’s recovery is more than wishful thinking, look no further than the city’s Disneyland. The house of Mickey Mouse is implicitly betting Hong Kong will soon be back, and bigger than before. At its core, Hong Kong’s unique selling point is that it’s China-by-proxy for investors; enterprises in the People’s Republic account for 78% of the market capitalisation of Hong Kong’s main boards. Against such a backdrop, it’s logical that Hong Kong is trying to spread its bets. Hong Kong exchange boss Nicolas Aguzin’s pitch is strengthened by a Chinese plan to let overseas companies listed in Hong Kong be included in the Connect programme.

☆ Disney clash with activist Peltz will have sequel
▼ + stars: | 2023-02-16 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 16 (Reuters Breakingviews) - Activist investor Nelson Peltz often plays a long game. Disney Chief Executive Bob Iger unveiled $5.5 billion of cost cuts last week when the $200 billion theme-parks-to-streaming company released fourth-quarter earnings. "The proxy fight is over,” a spokesperson for his outfit Trian Fund Management told Reuters. Could Peltz still end up on the Disney board? "The proxy fight is over.

☆ 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.

☆ Peltz ends Disney proxy fight as Iger launches restructuring
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nelson Peltz founding partner of Trian Fund Management LP. speak at the WSJD Live conference in Laguna Beach, California October 25, 2016. REUTERS/Mike Blake/File PhotoFeb 9 (Reuters) - Activist investor Nelson Peltz called off his bid for a seat on the board of Walt Disney Co (DIS.N) on Thursday after Chief Executive Bob Iger revealed a plan to restructure and cut costs. Peltz's Trian Fund, after Third Point's Daniel Loeb, pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry. Here is what happened since Iger retired in 2020:Reporting by Akash Sriram and Tiyashi Datta in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Florida Lawmakers Move to Take Over Disney’s Special-Tax District
▼ + stars: | 2023-02-07 | by ( Robbie Whelan | ) www.wsj.com time to read: +1 min

Walt Disney Co.’s dominion over its magic kingdom in Florida may be coming to an end. The bill, sponsored by Orlando Rep. Fred Hawkins, would rename Reedy Creek as the Central Florida Tourism Oversight District and give Gov. Florida’s state Senate would have to approve any such appointments. Under the current state law, Reedy Creek’s board is essentially handpicked by Disney, which owns almost all the land and assets within the district. The district has wide latitude to approve new real-estate developments at Walt Disney World without having to seek approvals for environmental impact, drainage and other regulations from local authorities, as other landowners must.

☆ Disney World Closes Splash Mountain Ride to Remove Racist Themes
▼ + stars: | 2023-01-25 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

The Splash Mountain ride at Walt Disney World’s Magic Kingdom was based on the controversial 1946 film ‘Song of the South.’Disney World closed its popular Splash Mountain ride this week to remove references from a 1940s movie with racist themes. The last Disney fans took a turn through the ride on Sunday, Walt Disney Co. said on its website. Splash Mountain, one of the theme park’s most famous rides, features music and characters from the controversial 1946 film, “Song of the South.”

☆ Disney World closed Splash Mountain after allegations of racism. Not everyone's happy.
▼ + stars: | 2023-01-24 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +4 min

Walt Disney World has closed its famous Splash Mountain water ride, the Magic Kingdom attraction that for years had been criticized for having racist roots. Goodbye, Splash Mountain,” read the caption of one video that had more than 1,300 likes Tuesday afternoon. The website for Tokyo Disneyland does not indicate if or when its Splash Mountain ride will close. A representative for Walt Disney World did not immediately respond to questions Tuesday. Splash Mountain is no stranger to controversy: In 2018, it made headlines when Walt Disney World banned a man who rode it while holding up a "Trump 2020" sign.

☆ Wells Fargo gives a bullish endorsement to a beleaguered Disney. We're awaiting Iger's turnaround plan
▼ + stars: | 2023-01-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Wells Fargo on Tuesday said it expects Walt Disney (DIS) to "come out swinging" when the entertainment conglomerate reports fiscal first-quarter results early next month. At the Club, we're slightly more cautious and will be looking closely for a detailed turnaround plan from CEO Bob Iger. We like this setup into the print," Wells Fargo analysts wrote in a research note. Like other investors — including the Club — Trian has expressed frustration over Disney's streaming losses, overspending and a share price decline of more than 44% last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ 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’s Magic Kingdom Needs a New Spellbook
▼ + stars: | 2023-01-12 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/disneys-magic-kingdom-needs-a-new-spellbook-11673544699

☆ Disney braces for boardroom battle
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

Jan 12 (Reuters) - Activist investor Nelson Peltz on Thursday bid for a seat on the board of Walt Disney Co (DIS.N), stirring the pot for what appears to be a boardroom battle brewing at the Magic Kingdom. This comes after company veteran Bob Iger returned to the helm at the Marvel-parent to help a push for profitability at its streaming business, Disney+. Peltz's Trian Fund, after Third Point's Daniel Loeb, have pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry. Here is what happened since Iger retired in 2020:Reporting by Akash Sriram and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

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