The Walt Disney Company has officially welcomed Valueact Capital Partners, a prominent investment firm, into a strategic advisory role, signaling a significant move aimed at bolstering long-term shareholder value. This partnership, formalized through a confidentiality agreement, grants ValueAct access to confidential information and allows them to consult on pivotal strategic matters, engaging directly with Disney’s Board of Directors and top management.
ValueAct Capital brings to the table a wealth of experience in navigating complex transformations within the media and technology sectors. Their impressive portfolio includes successful engagements with industry giants such as Spotify, The New York Times, 21st Century Fox, Nintendo, Microsoft, Adobe, and Salesforce. This track record underscores their expertise in guiding established companies through periods of significant change and digital evolution.
Disney CEO Robert A. Iger expressed enthusiasm about the collaboration, stating, “ValueAct Capital has demonstrated a collaborative and cooperative approach in their investments, and Co-CEO Mason Morfit has already engaged constructively in our discussions over the past year. We value their insights as long-term shareholders.” This welcoming statement highlights Disney’s proactive approach to incorporating external expertise to enhance its strategic direction.
Mason Morfit, Co-CEO and Chief Investment Officer at ValueAct Capital, reciprocated the positive sentiment, emphasizing Disney’s unparalleled position in the entertainment landscape. “Disney stands as the world’s premier entertainment company, boasting unmatched intellectual property, iconic sports brands, and world-class parks and experiences. As the media industry undergoes a significant shift towards digital platforms, we are confident in Disney’s ability to spearhead this evolution. ValueAct Capital is excited to collaborate with Bob Iger and the Board to drive sustainable, long-term value for shareholders,” Morfit commented. This statement reinforces ValueAct’s belief in Disney’s potential and their commitment to a collaborative partnership.
Adding further weight to their commitment, ValueAct Capital has publicly declared its support for Disney’s nominated slate of directors for election at the upcoming 2024 Annual Meeting. This endorsement provides a strong vote of confidence in Disney’s current leadership and strategic trajectory.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, regarding the Company’s future plans, strategies, financial prospects, and potential shareholder value, are based on current views and assumptions. Actual results may differ materially due to various factors, including but not limited to economic conditions, competitive pressures, technological developments, and regulatory changes. Disney undertakes no obligation to update these statements.
Additional Information
Disney intends to file a proxy statement on Schedule 14A with the SEC regarding its 2024 Annual Meeting of Shareholders. Investors and security holders are urged to read the proxy statement and other relevant documents filed with the SEC carefully when they become available, as they will contain important information. These documents are available for free at the SEC’s website (www.sec.gov) and Disney’s website (www.thewaltdisneycompany.com).
Participants in Solicitation
Disney, its directors, executive officers, and other members of management may be deemed participants in the solicitation of proxies. Information regarding Disney’s directors and executive officers is available in Disney’s filings with the SEC.
Contacts:
- David Jefferson, Corporate Communications, Disney: [email protected]
- Mike Long, Corporate Communications, Disney: [email protected]
- Steve Lipin, Gladstone Place Partners: [email protected]
- ValueAct Contact: [email protected]
Learn more about Investor Relations News and Press Releases on Disney’s official website.
