Disney has defended its long-term investment in new technologies and formed an AI Task Force last year to study the application of AI across the conglomerate. The company has argued that replacing board members with nominees from activist investors would disrupt progress. Disney also disagreed with Blackwells' proposal to spin off its land and hotels into a real estate investment trust and break up the rest of the company, stating it demonstrated a misunderstanding of Disney's strengths derived from synergies across its businesses.
Key takeaways:
- Blackwells Capital, a shareholder in Walt Disney, is urging the company to develop an artificial intelligence (AI) strategy, claiming it could boost the company's stock price by up to 129%.
- Blackwells is also advocating for a potential breakup of Disney and the spinning off of its park and hotel assets into a real estate investment trust.
- Disney has defended its technology strategy, pointing to its long-term investment in new technologies and the formation of an AI Task Force last year to study the application of AI across the conglomerate.
- Blackwells is pushing for three board seats at Disney and has suggested that the company hire a corporate chief technology officer to focus on technology transformation.