Latest in Third Point

Disney's chief financial officer Christine McCarthy said today, "We like the hand we have with ESPN," calling the sports network and streamer an important piece of the broader portfolio. She made the comments at a media conference in response to a question about investor Daniel Loeb of Third Point Capital, who last…

UPDATED with Disney’s response. Disney has responded to a letter from Third Point’s Daniel Loeb, reaffirming the leadership of CEO Bob Chapek and pushing back at Loeb’s call for a “refresh” of the company’s board. "We welcome the views of all our investors,” Disney said in a statement. “As our third quarter results…

Daniel 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…

Daniel Loeb’s hedge fund Third Point LLC, known in media circles for its activist crusade to shake up Sony Corp., has bought 1.425 million shares in the Walt Disney Co., according to an SEC filing Friday. The purchase is a tiny fraction of the media giant’s 1.81 billion outstanding shares and there was no immediate…

Daniel Loeb’s Third Point Capital revealed Friday that it’s acquired a chunk of ViacomCBS stock, but the hedge fund did not indicate whether it’s planning to move into activist mode in the way that’s caused headaches for Sony and other companies. In an SEC filing, Third Point indicated it had acquired 2.75 million…

Activist investor Daniel Loeb’s hedge fund Third Point, after buzzing around Sony for years, urged the conglomerate to continue selling off non-strategic assets, insisting that the media and entertainment businesses can “stand alone.” Loeb also commended Sony for strong returns in 2019 but said in a letter to…

Sony Corp. has rejected a proposal by activist shareholder Daniel Loeb of Third Point Capital to spin off its semiconductor business in order to unlock value in its entertainment holdings. Third Point, which has accumulated $1.5 billion in Sony shares since 2013, sent an open letter to Sony’s board in June outlining…

Shares in Sony Corp. on the New York Stock Exchange climbed more than 3% Friday to close at $51.35 and rallied as much as 4% on Japan’s Nikkei after a new proposal by activist investor Daniel Loeb to break up the conglomerate. Loeb, whose Third Point hedge fund has accumulated a $1.5 billion stake in Sony since first…

Activist investor Daniel Loeb said in an investor letter that he has sold his shares in Sony, months after his push for a partial spinoff of its entertainment units and improvement in its bottom line led to thousands of layoffs at its entertainment, TV and PC units. Despite Sony’s continued challenges after the…

There’s less than meets the eye to a regulatory filing in Japan that seemed to show that hedge fund Third Point is no longer one of the top 10 investors in Sony. The filing, first reported by Reuters, appeared to indicate that fund manager Daniel Loeb is retreating after the company in August rebuffed his proposal urgi…

The CEO of Third Point says that George Clooney was “a little hyperbolic” in August when the actor — in an interview with my colleague Mike Fleming Jr — defended Sony Entertainment execs from the hedge fund manager’s attacks. Daniel Loeb just told The New York Times’ DealBook's Opportunities for Tomorrow Conference…

The company is telling analysts and investors to hold November 21 for a “Sony Entertainment Investor Day” to be held at the Sony Pictures Entertainment lot in Culver City. No word on why — or who’ll be there. But this appears to be a follow up to a promise that CEO Kazuo Hirai made last month to Third Point CEO Daniel…