Disney wins backing from hedge fund pair in boardroom battle

Activist hedge funds ValueAct Capital and Blackwells Capital moved to back Disney as the business defends itself against a challenge from a third activist investor, Trian Fund Management.The unusual twist in the battle for Disney’s board underscores the high stakes in the company’s attempted turnaround under CEO Bob Iger.Iger led Disney from 2005 to 2020, and returned to the helm in November 2022 as investors punished the company’s stock for a $1.5bn quarterly loss in its streaming division and the underper ...