Disney Punches Back Against Nelson Peltz, Says Activist Investor “Does Not Understand” Its Business

In a slide deck published Tuesday, the entertainment giant responds point-by-point to Peltz's argument.

And Disney noted that the one media-adjacent board that Peltz has sat on, MSG Sports, has lagged the S&P 500 since he joined it in 2014.

The company also used Peltz’s CNBC interview against him, with Peltz admitting that he “is not an expert” in theme parks, and suggesting that Disney may need to get out of the streaming business . Disney’s pushback is an indication that the company will not acquiesce to Peltz, and could be the first step in what may be a bruising proxy fight, as Peltz goes direct to Disney shareholders to advocate for his seat.

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