The update comes as the company faces new pressure from activist investor Nelson Peltz.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.shareholders will be looking for updates on CEO Bob Iger's plans for the media giant as the company contends with streaming losses and a slumping share price.
The entertainment giant has suffered from lower advertising revenue, hit-or-miss theatrical blockbusters, and is still dealing with the aftermath of the writers' strike and ongoing negotiations with Hollywood's actors.Investors will be looking for updates on Disney's efforts to cut streaming losses after tightening its spending and raising prices for some plans.
In its previous quarter, Disney recorded $2.65 billion in one-time charges and impairments, dragging the company to a rare quarterly net loss. The majority of those charges were what Disney called "content impairments" related to pulling content off its streaming platforms and ending third-party licensing agreements.from activist investor Nelson Peltz, who is seeking to gain more control of the company's board.
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