Friday, September 17, 2021

LOEB EXPANDS MEDIA STAKES — BUYS 1.8 MILLION DISNEY SHARES

August 15, 2013 by · Leave a Comment 

Activist investor Daniel Loeb, who has been urging Sony to spin off some of its entertainment holdings and use the receipts to bolster its electronics business, may now play a role in effecting changes at Disney. In his SEC filing on Wednesday, he disclosed that his Third Point hedge fund owns 1.8 million Disney shares, worth about $114 million. However, MarketWatch.com, citing a person familiar with the matter, said that Loeb has no plans to launch a push for any changes at Disney. The investment expands Loeb’s media holdings. Also included in his portfolio, besides Disney and Sony, are MGM, Yahoo!, News Corp and Liberty Global.