Jwaire
DIS Veteran
- Joined
- Sep 17, 2020
That's odd. What's coming? Let the speculation begin.
DIS Shareholders and Stock Info ONLY
- Thread starter hhisc16
- Start date
That's odd. What's coming? Let the speculation begin.
clarker99
DIS Veteran
- Joined
- May 15, 2019
Ha. I will start it off… Direct to Consumer is now profitable.
Maybe they are doing it from WDW and will have some more concrete expansion announcements?
Jwaire
DIS Veteran
- Joined
- Sep 17, 2020
That's what I'm thinking too. If it was just financial, Iger wouldn't be getting up at 5:30 a.m. pacific. I be it corresponds with their yearly executive meeting at Walt Disney World.
HokieRaven5
DIS Veteran
- Joined
- Mar 5, 2020
Last time they had a pre-market meeting was Q1 FY 2010
HokieRaven5
DIS Veteran
- Joined
- Mar 5, 2020
Just because it brings back full circle to the Peltz debacle, Jay Rasulo was still CFO during that earnings call. It was also only 5 weeks after they acquired Marvel.
https://seekingalpha.com/article/187661-walt-disney-co-f1q10-qtr-end-1-2-10-earnings-call-transcript
Jwaire
DIS Veteran
- Joined
- Sep 17, 2020
Did they? It looks like it was at 4:30 p.m.
BURBANK, Calif. – December 7, 2009 – The Walt Disney Company (NYSE: DIS) will announce fiscal first quarter 2010 financial results via a live audio Webcast beginning at 4:30 p.m. EST / 1:30 p.m. PST on Tuesday, February 9, 2010 (results will be released at approximately 4:01 p.m. EST / 1:01 p.m. PST). To listen to the Webcast, point your browser to www.disney.com/investors. The discussion will be available via re-play through February 23, 2010 at 7:00 p.m. EST / 4:00 p.m. PST.
https://thewaltdisneycompany.com/th...t-quarter-2010-financial-results-via-webcast/
Jwaire
DIS Veteran
- Joined
- Sep 17, 2020
I expect it means something. At the very least, Iger's on the east coast that day. That's a lot of people to get up at the crack of dawn to get to work—Iger, CFO, Developer Relations, support staff, etc.
HokieRaven5
DIS Veteran
- Joined
- Mar 5, 2020
Okay maybe the folks at alpha messed up on their reporting time
That might be it, it aligns with an exec meeting at WDW. I would not expect any real announcements on the call but maybe some news will come out of the meetings?
Obi-J Kenobi
Jedi Knight
- Joined
- Mar 15, 2021
Disney parks are back on X, it appears. Story link below:
https://www.wdwmagic.com/other/walt...ing-on-elon-musks-x-social-media-platform.htm
https://www.wdwmagic.com/other/walt...ing-on-elon-musks-x-social-media-platform.htm
Bob at the start of next month's call - "And for today's call we have a special Finance guest, a blast form the past, Jay Rasulo! Take it away Jay!!!"
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
https://www.wsj.com/business/media/...as-company-discusses-skydance-merger-68c509e4
Three Paramount Directors to Step Down as Company Discusses Skydance Merger
Dawn Ostroff and Nicole Seligman were on the independent special committee tasked with finding the best deal for all shareholders
By Jessica Toonkel
Updated April 10, 2024 12:53 pm EDT
Three Paramount Directors to Step Down as Company Discusses Skydance Merger
Dawn Ostroff and Nicole Seligman were on the independent special committee tasked with finding the best deal for all shareholders
By Jessica Toonkel
Updated April 10, 2024 12:53 pm EDT
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
Or at least another sheaf of artist's renderings?
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
https://www.latimes.com/entertainme...face-investor-angst-over-likely-skydance-deal
Paramount, Shari Redstone face investor angst over possible Skydance deal
By Samantha Masunaga and Meg James
April 10, 2024 Updated 1:30 PM PDT
Shares of Paramount Global tumbled Wednesday as several of the company’s directors are stepping down as merger talks continue between the historic studio and tech scion David Ellison.
It’s the latest sign of unease at the media company amid negotiations between Ellison and Paramount’s controlling shareholder, Shari Redstone, which would lead to the combination of Ellison’s Santa Monica-based film and TV production company Skydance with the storied entertainment giant.
Some shareholders have expressed concerns too. They worry that the structure of the deal would confer significant benefits to Redstone, who is Paramount’s nonexecutive chairwoman, at the expense of regular investors.
Earlier in the week, shareholder Blackwood Capital Management sent a letter to Paramount’s board of directors, saying they “vehemently object” to the proposed Skydance deal.
“Under the terms reported by the media, you’ll be cashing out one shareholder at a huge premium and leaving the rest of us stuck with heavily diluted shares in a very speculative new venture,” Justin Evans of Blackwood, wrote. “This violates the law as well as your fiduciary duty to shareholders. Further, the proposal includes material conflicts of interest and painfully obvious self-dealing.”
The letter also included a warning: “If you move forward with this toxic unfair proposal, the next letter you’ll receive is a litigation hold notice from our attorneys.”
Paramount shares fell 47 cents, or 4.3%, to $10.50 on Wednesday. The stock had fallen as much as 7% in midday trading.
Earlier in the day, the Wall Street Journal first reported that Dawn Ostroff, Nicole Seligman and Rob Klieger would be stepping down from their roles on the board in the coming weeks.
The three are among the directors closest to Redstone; Ostroff and Seligman have been longtime friends with Redstone, and Klieger was late patriarch Sumner Redstone’s attorney, picked for the board by Shari Redstone. Frederick O. Terrell is also exiting the board, the outlet later reported.
Rising concerns among investors put the spotlight on the independent committee, which included Redstone’s allies. There were concerns about a potential conflict of interest as directors have a fiduciary duty to all shareholders, according to a person who had been briefed on the tensions but was not authorized to comment.
The stock has fallen 15% in the last five days, wiping out gains made last week amid escalating deal chatter.
Paramount declined to comment.
The stock slump comes as investors express dismay at reports of the potential deal between Skydance and National Amusements — the Redstone family’s holding company and controlling shareholder of Paramount. The two sides are in a period of exclusive negotiations, according to people familiar with the matter who are not permitted to comment.
Such a deal would give Ellison control over Paramount, marking the start of an uncertain new chapter for a company that has gone through major upheaval in recent years as the entertainment industry transitions from traditional television to streaming.
In a Monday letter to Paramount’s board, investor Matrix Asset Advisors wrote that the in-the-works deal between NAI and Skydance would be “detrimental” to Paramount’s value.
The investment firm urged the board not to accept a “sub-optimal” offer from Skydance, and instead more seriously consider a competing $26-billion bid from private equity giant Apollo Management Group.
Blackwood Capital Management, too, urged the board to explore Apollo’s offer, writing, “The last thing the company shareholders need is yet another silver-spooned movie enthusiast to run our entertainment company into the ground.”
Ellison first expressed interest in a deal for Paramount in December. Shari Redstone had long viewed him as a preferred buyer because of Ellison’s long association with the film studio, his respect for what’s been built and the fact that Ellison is from a younger generation, according to a person close to the sales process but not authorized to comment publicly. Ellison’s father, Oracle Corp. co-founder Larry Ellison, is also expected to contribute funding to the deal.
Skydance has an existing relationship with Paramount, co-producing each film in the “Mission: Impossible” franchise since 2011’s “Mission: Impossible — Ghost Protocol,” along with the 2022 hit “Top Gun: Maverick.”
The two studios’ prior collaborations, as well as the allure of combining their intellectual properties and the cachet of owning the longest-operating Hollywood studio, probably was attractive to Ellison, analysts said. Paramount’s rich history of films includes such cinematic hits as “The Godfather” and “Chinatown,” as well as blockbuster franchises such as “Transformers,” in addition to groundbreaking cable channels including BET, MTV and Nickelodeon.
But Paramount today faces significant challenges, including the decline of linear TV, which has shrunk valuable ad revenue, the company’s struggles with its streaming service Paramount+ and a larger, industrywide question about when — if ever — box office revenue will return to pre-pandemic levels.
“Paramount still is a historic studio with a legendary venue; I can’t imagine that would change,” said Stephen Galloway, dean of Chapman University’s Dodge College of Film and Media Arts.
But he noted how many of Paramount’s historical rivals have been bought up by other studios — MGM by Amazon, Fox by Disney and Warner Bros. combining with Discovery.
“Recent history doesn’t bode well for the future of these brands that basically all came about in the ‘20s ... and lasted 100 years. A hundred years is a long time. Nothing lasts forever,” Galloway said.
Ellison is not the only interested buyer. Apollo’s bid for the company is seen as more attractive to some analysts and shareholders. The Ellison bid heavily favors Redstone and her controlling class of shares and would dilute the value of shares for the vast majority of stockholders, they say.
“The notion of National Amusements getting a premium for their voting stock is totally warranted,” said Mario Gabelli, chief executive of GAMCO Investors Inc., whose clients own 5 million shares in Paramount. “The question is how much. My clients want to be treated the same as the voting stock. All voting stock should be treated equally.”
Redstone is said to have recused herself from the deal-vetting process.
Warner Bros. Discovery also previously expressed some interest in a merger, though it has struggled under the load of its debt from previous deals and is in similar straits as Paramount. Warner Bros. Discovery’s interest, though, was short-lived. Media mogul Byron Allen also made a bid for the company, though his financing seemed more uncertain.
Samantha Masunaga is a business reporter for the Los Angeles Times. She’s worked at the paper since 2014.
Meg James is a senior entertainment industry writer for the Los Angeles Times. She was the lead reporter for The Times’ coverage of the deadly “Rust” shooting on a New Mexico film set in 2021, work recognized by the Pulitzer Prize board as a finalist in breaking news. A member of the Company Town team for two decades, James specializes in covering television, corporate media and investigative projects. She previously wrote for the Miami Herald and the Palm Beach Post. A native of Wyoming, she is a graduate of the University of Colorado and Columbia University.
Paramount, Shari Redstone face investor angst over possible Skydance deal
By Samantha Masunaga and Meg James
April 10, 2024 Updated 1:30 PM PDT
Shares of Paramount Global tumbled Wednesday as several of the company’s directors are stepping down as merger talks continue between the historic studio and tech scion David Ellison.
It’s the latest sign of unease at the media company amid negotiations between Ellison and Paramount’s controlling shareholder, Shari Redstone, which would lead to the combination of Ellison’s Santa Monica-based film and TV production company Skydance with the storied entertainment giant.
Some shareholders have expressed concerns too. They worry that the structure of the deal would confer significant benefits to Redstone, who is Paramount’s nonexecutive chairwoman, at the expense of regular investors.
Earlier in the week, shareholder Blackwood Capital Management sent a letter to Paramount’s board of directors, saying they “vehemently object” to the proposed Skydance deal.
“Under the terms reported by the media, you’ll be cashing out one shareholder at a huge premium and leaving the rest of us stuck with heavily diluted shares in a very speculative new venture,” Justin Evans of Blackwood, wrote. “This violates the law as well as your fiduciary duty to shareholders. Further, the proposal includes material conflicts of interest and painfully obvious self-dealing.”
The letter also included a warning: “If you move forward with this toxic unfair proposal, the next letter you’ll receive is a litigation hold notice from our attorneys.”
Paramount shares fell 47 cents, or 4.3%, to $10.50 on Wednesday. The stock had fallen as much as 7% in midday trading.
Earlier in the day, the Wall Street Journal first reported that Dawn Ostroff, Nicole Seligman and Rob Klieger would be stepping down from their roles on the board in the coming weeks.
The three are among the directors closest to Redstone; Ostroff and Seligman have been longtime friends with Redstone, and Klieger was late patriarch Sumner Redstone’s attorney, picked for the board by Shari Redstone. Frederick O. Terrell is also exiting the board, the outlet later reported.
Rising concerns among investors put the spotlight on the independent committee, which included Redstone’s allies. There were concerns about a potential conflict of interest as directors have a fiduciary duty to all shareholders, according to a person who had been briefed on the tensions but was not authorized to comment.
The stock has fallen 15% in the last five days, wiping out gains made last week amid escalating deal chatter.
Paramount declined to comment.
The stock slump comes as investors express dismay at reports of the potential deal between Skydance and National Amusements — the Redstone family’s holding company and controlling shareholder of Paramount. The two sides are in a period of exclusive negotiations, according to people familiar with the matter who are not permitted to comment.
Such a deal would give Ellison control over Paramount, marking the start of an uncertain new chapter for a company that has gone through major upheaval in recent years as the entertainment industry transitions from traditional television to streaming.
In a Monday letter to Paramount’s board, investor Matrix Asset Advisors wrote that the in-the-works deal between NAI and Skydance would be “detrimental” to Paramount’s value.
The investment firm urged the board not to accept a “sub-optimal” offer from Skydance, and instead more seriously consider a competing $26-billion bid from private equity giant Apollo Management Group.
Blackwood Capital Management, too, urged the board to explore Apollo’s offer, writing, “The last thing the company shareholders need is yet another silver-spooned movie enthusiast to run our entertainment company into the ground.”
Ellison first expressed interest in a deal for Paramount in December. Shari Redstone had long viewed him as a preferred buyer because of Ellison’s long association with the film studio, his respect for what’s been built and the fact that Ellison is from a younger generation, according to a person close to the sales process but not authorized to comment publicly. Ellison’s father, Oracle Corp. co-founder Larry Ellison, is also expected to contribute funding to the deal.
Skydance has an existing relationship with Paramount, co-producing each film in the “Mission: Impossible” franchise since 2011’s “Mission: Impossible — Ghost Protocol,” along with the 2022 hit “Top Gun: Maverick.”
The two studios’ prior collaborations, as well as the allure of combining their intellectual properties and the cachet of owning the longest-operating Hollywood studio, probably was attractive to Ellison, analysts said. Paramount’s rich history of films includes such cinematic hits as “The Godfather” and “Chinatown,” as well as blockbuster franchises such as “Transformers,” in addition to groundbreaking cable channels including BET, MTV and Nickelodeon.
But Paramount today faces significant challenges, including the decline of linear TV, which has shrunk valuable ad revenue, the company’s struggles with its streaming service Paramount+ and a larger, industrywide question about when — if ever — box office revenue will return to pre-pandemic levels.
“Paramount still is a historic studio with a legendary venue; I can’t imagine that would change,” said Stephen Galloway, dean of Chapman University’s Dodge College of Film and Media Arts.
But he noted how many of Paramount’s historical rivals have been bought up by other studios — MGM by Amazon, Fox by Disney and Warner Bros. combining with Discovery.
“Recent history doesn’t bode well for the future of these brands that basically all came about in the ‘20s ... and lasted 100 years. A hundred years is a long time. Nothing lasts forever,” Galloway said.
Ellison is not the only interested buyer. Apollo’s bid for the company is seen as more attractive to some analysts and shareholders. The Ellison bid heavily favors Redstone and her controlling class of shares and would dilute the value of shares for the vast majority of stockholders, they say.
“The notion of National Amusements getting a premium for their voting stock is totally warranted,” said Mario Gabelli, chief executive of GAMCO Investors Inc., whose clients own 5 million shares in Paramount. “The question is how much. My clients want to be treated the same as the voting stock. All voting stock should be treated equally.”
Redstone is said to have recused herself from the deal-vetting process.
Warner Bros. Discovery also previously expressed some interest in a merger, though it has struggled under the load of its debt from previous deals and is in similar straits as Paramount. Warner Bros. Discovery’s interest, though, was short-lived. Media mogul Byron Allen also made a bid for the company, though his financing seemed more uncertain.
Samantha Masunaga is a business reporter for the Los Angeles Times. She’s worked at the paper since 2014.
Meg James is a senior entertainment industry writer for the Los Angeles Times. She was the lead reporter for The Times’ coverage of the deadly “Rust” shooting on a New Mexico film set in 2021, work recognized by the Pulitzer Prize board as a finalist in breaking news. A member of the Company Town team for two decades, James specializes in covering television, corporate media and investigative projects. She previously wrote for the Miami Herald and the Palm Beach Post. A native of Wyoming, she is a graduate of the University of Colorado and Columbia University.
Elijah Abrams
Mouseketeer
- Joined
- Feb 6, 2020
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
https://thedesk.net/news/aspen-sky-trust-legal-threat-paramount-redstone/
Shareholder group sends legal demand to Redstone over Paramount-Skydance merger
The cease-and-desist letter was sent by an attorney representing Aspen Sky Trust on Wednesday.
By: Matthew Keys
mkeys@thedesk.net
Published: April 10, 2024
An attorney representing an investment group that owns some of Paramount’s common stock has sent a cease-and-desist letter to Shari Redstone urging her to stop participating in pre-merger discussions involving Paramount’s board of directors and Skydance Media.
The letter sent on Wednesday came from Aspen Sky Trust, which owns more than 6.5 million shares of Paramount stock, amounting to just over 1 percent of all shares issued. It follows a letter sent to Paramount’s board of directors earlier in the week, in which Aspen Sky Trust expressed concern over the board’s decision to hold exclusive pre-merger discussions with Skydance Media for 30 days, while apparently ignoring other offers made by Apollo Global Management and Allen Media Group.
Those offers could be more-lucrative for Paramount’s shareholders like Aspen Sky Trust, the letter sent earlier in the week argued. By comparison, Aspen Sky Trust and other shareholders believe the offer being considered by Paramount’s board involving Skydance Media would over-benefit Redstone, whose National Amusements holds a controlling interest in the entertainment company.
On Wednesday, attorney William Ripley, Jr. sent a cease-and-desist letter to Redstone on behalf of Aspen Sky Trust, complaining that her discussions with Skydance Media prevented competitive bidding by other parties interested in Paramount and demanding she immediately stop participating in pre-merger talks with the company.
“As a member of the Board of Directors, Shari Redstone has, at all times relevant to the matters discussed herein, held a fiduciary duty to Aspen Sky Trust,” Ripley wrote in the letter, a copy of which was obtained by The Desk on Wednesday. “As a fiduciary, she had a legal and affirmative obligation to protect, safeguard and utilize the utmost caution and care in financial matters relating to Paramount and its shareholders. Aspen Sky Trust has reasonable belief that Shari Redstone has taken affirmative steps to promote exclusive negotiations by and between Paramount and Skydance Media for personal gains.”
Ripley characterized those discussions as “tortious interference with existing and future business relationships” and a breach of Redstone’s “fiduciary duties” to shareholders. The attorney warned that Aspen Sky Trust might sue if Redstone continues to engage in those discussions or if the Paramount board continues with its plan to explore a merger with Skydance Media on an exclusive basis.
Ripley asked for Redstone or her legal representatives to send a written confirmation acknowledging their demand to “cease and desist from all breaches of fiduciary duties” by a Friday deadline. It wasn’t clear if Redstone or anyone at Paramount had responded to the letter as of Wednesday evening.
The letter went on to demand that Redstone and National Amusements preserve all records of their communications with Paramount’s board and Skydance Media in the event of litigation.
“In addition, Aspen Sky Trust places Shari Redstone and National Amusements, Inc. on notice not to allow the deletion of any electronic communications, such as emails, relating to the Agreements,” the letter continued.
Shareholder group sends legal demand to Redstone over Paramount-Skydance merger
The cease-and-desist letter was sent by an attorney representing Aspen Sky Trust on Wednesday.
By: Matthew Keys
mkeys@thedesk.net
Published: April 10, 2024
An attorney representing an investment group that owns some of Paramount’s common stock has sent a cease-and-desist letter to Shari Redstone urging her to stop participating in pre-merger discussions involving Paramount’s board of directors and Skydance Media.
The letter sent on Wednesday came from Aspen Sky Trust, which owns more than 6.5 million shares of Paramount stock, amounting to just over 1 percent of all shares issued. It follows a letter sent to Paramount’s board of directors earlier in the week, in which Aspen Sky Trust expressed concern over the board’s decision to hold exclusive pre-merger discussions with Skydance Media for 30 days, while apparently ignoring other offers made by Apollo Global Management and Allen Media Group.
Those offers could be more-lucrative for Paramount’s shareholders like Aspen Sky Trust, the letter sent earlier in the week argued. By comparison, Aspen Sky Trust and other shareholders believe the offer being considered by Paramount’s board involving Skydance Media would over-benefit Redstone, whose National Amusements holds a controlling interest in the entertainment company.
On Wednesday, attorney William Ripley, Jr. sent a cease-and-desist letter to Redstone on behalf of Aspen Sky Trust, complaining that her discussions with Skydance Media prevented competitive bidding by other parties interested in Paramount and demanding she immediately stop participating in pre-merger talks with the company.
“As a member of the Board of Directors, Shari Redstone has, at all times relevant to the matters discussed herein, held a fiduciary duty to Aspen Sky Trust,” Ripley wrote in the letter, a copy of which was obtained by The Desk on Wednesday. “As a fiduciary, she had a legal and affirmative obligation to protect, safeguard and utilize the utmost caution and care in financial matters relating to Paramount and its shareholders. Aspen Sky Trust has reasonable belief that Shari Redstone has taken affirmative steps to promote exclusive negotiations by and between Paramount and Skydance Media for personal gains.”
Ripley characterized those discussions as “tortious interference with existing and future business relationships” and a breach of Redstone’s “fiduciary duties” to shareholders. The attorney warned that Aspen Sky Trust might sue if Redstone continues to engage in those discussions or if the Paramount board continues with its plan to explore a merger with Skydance Media on an exclusive basis.
Ripley asked for Redstone or her legal representatives to send a written confirmation acknowledging their demand to “cease and desist from all breaches of fiduciary duties” by a Friday deadline. It wasn’t clear if Redstone or anyone at Paramount had responded to the letter as of Wednesday evening.
The letter went on to demand that Redstone and National Amusements preserve all records of their communications with Paramount’s board and Skydance Media in the event of litigation.
“In addition, Aspen Sky Trust places Shari Redstone and National Amusements, Inc. on notice not to allow the deletion of any electronic communications, such as emails, relating to the Agreements,” the letter continued.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
I've not seen any stories that have addressed that issue. It is still my contention that streaming will continue to expand advertising. That's where the money's been in broadcast for 100 years.
PsylockeSmythe
Mouseketeer
- Joined
- Mar 29, 2017
My guess is that subscriber numbers will either stay flat or move slightly higher. I don't think it will be cause a big jump in subscribers. At least not right away. I feel that the profit per subscriber will more than likely go up, but still not be where it needs to be.
The biggest issue in streaming, is subscriber churn in my opinion. It is too easy for people to sign up for a month, binge watch what they want and drop the service. Rinse and repeat throughout the year. Until the streamers can lock people in for 6 months to a year or more, streaming profits will be up and down.
Psy
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