The Latest Breaking News from Bob Chapek

San Francisco (AFP) - Entertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year.

Disney wants the same thing as activist investor Nelson Peltz: tighter cost control and focused long-term growth. But can they agree on timing?

Most children, probably by the age of 10, have learned the lesson that the worst way to placate bullies is to give them what they want.

Compare that to his 2021 salary of $32.5 million.

The Walt Disney Co. has come out swinging against activist shareholder Nelson Peltz's campaign to join the company's board of directors, saying the billionaire lacks a basic understanding of Disney's business and has offered no strategic ideas.

In response to House Republicans’ plans to use their new majority to investigate the ESG movement, three Democratic senators penned an op-ed accusing their GOP colleagues of overstepping. The three senators—Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), and Martin Heinrich (D-N.M.)—also accused Republicans who oppose ESG of being anti-capitalist:

One already announced Disney World theme park project looks to be officially dead.

Corporate drama pits chief executive Bob Iger against the veteran activist

"My goal is to work collaboratively with Bob Iger and other directors to take decisive action that will result in improved operations and financial performance," said billionaire investor Nelson Peltz.