Bob Iger wins again. Activist shareholder stands down in Disney board battle | CNN Business

Peltz, who demanded changes at Disney\n \n and a seat on the company’s board, declared defeat after Iger announced many of the cost-cutting initiatives Peltz had been demanding. At the conclusion of Iger’s half-hour interview with CNBC on Thursday, Peltz said he was dropping his bid. “The proxy fight is over,” a spokemsan for Peltz told CNN in a statement on Thursday. “This is a win for all shareholders.

Although Iger wouldn’t speculate about whether Disney would buy or sell its two-thirds stake in the streaming platform, he noted that he has been weighing what to do with Hulu. Wall Street analysts had widely expected Disney to buy the rest of the Hulu stake, owned by rival Comcast\n \n . Iger also said that while streaming is the future of the company, “its not the only future.

Disney has lost our trust. We will not let our grandchildren watch it anymore except with our approval. And that is because they are putting our beloved kids black and white against each other. This is very disturbing in our society today.

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