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Activist investor Daniel Loeb on Wednesday urged Walt Disney Co. to skip paying an annual dividend and instead pour the $3 billion into hits for its streaming television service.

Loeb, founder of Third Point hedge fund, made his pitch in a letter to Disney chief executive Bob Chapek and the board of directors.

Loeb reasoned that skipping a few dollars per share in dividends, the entertainment giant could use the money to more than double its budget for content at Disney+ streaming service.

“Disney has built one of the largest streaming platforms in the world, already within the original 5-year Disney+ subscriber target range of 60-90 million,” Loeb said in the letter, a copy of which was obtained by AFP.

“To further capitalize on this transformational opportunity, we believe the company should permanently suspend its $3 billion annual dividend and redirect this capital entirely into content production and acquisition for

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Apple TV pages for films like <em>Star Wars: Rise of Skywalker</em> now claim 4K, Dolby Vision, and Dolby Atmos support.
Enlarge / Apple TV pages for films like Star Wars: Rise of Skywalker now claim 4K, Dolby Vision, and Dolby Atmos support.

Samuel Axon

When Apple launched the Apple TV 4K streaming box and first announced support for 4K and HDR in the iTunes movie store back in 2017, it had managed to sign up most major studios. But there was one holdout in terms of offering its catalog in UltraHD: Disney.

For three years, users in Apple’s ecosystem had to settle for 1080p HD to watch, say, the Marvel movies or Pixar animated films. Today, it looks like that’s changing in the United States, Canada, and the United Kingdom. A plethora of Disney-made films inclusive of numerous Marvel, Star Wars, Pixar, and Walt Disney Studios animated films are available in Apple’s storefront in both 4K and Dolby Vision HDR. They also support Dolby Atmos audio.

Examples include Star Wars:

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The Muppets | Disney

May 8, 2020 | website | No Comments

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Inspector Gadget | Disney Movies

May 7, 2020 | gadget | No Comments

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Disney Princess | Official Site

May 4, 2020 | website | No Comments

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Frozen | Official Disney Site

May 3, 2020 | website | No Comments

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Gadget Hackwrench | Disney Wiki

May 3, 2020 | gadget | No Comments

 

Gadget Hackwrench is 

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