Dade Hayes Finance EditorDaniel Loeb, whose Third Point hedge fund owns a small stake in Disney, is urging the media giant to ditch its shareholder dividend and re-route those funds to streaming.“Beyond bringing additional subscribers onto the platform, increased velocity of dedicated content production will deliver several knock-on benefits spread across your existing base including elevated engagement, lower churn, and increased pricing power,” Loeb wrote in a letter to Disney CEO Bob Chapek, a copy of which was provided to Deadline.The change should not just be a 2020 decision, the letter maintains. “We believe the company should permanently suspend its $3 billion annual dividend, redirect capital entirely into content production and.
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