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The Walt Disney Company Add to portfolio

INX:DIS, May 29, 11:04 UTC

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Disney World sets reopening date - CNN

DIS

Disney World will reopen its gates, ending a multi-month closure of the park that left the Walt Disney Company reeling. The Disney theme park, which employs some 70,000 people, plans to begin a phased reopening on July 11 for its Magic Kingdom and Animal Kingdom parks and July 15 for EPCOT and Hollywood Studios, the company said on Wednesday. Walt Disney World as well as Disney's Disneyland resort in Anaheim, California, closed in mid-March because of the coronavirus pandemic. Disney generated more than $26 billion in sales at its Parks, Experiences and Products unit in fiscal 2019, representing 37% of the company's overall revenue. But the company revealed in its latest earnings report that its Parks and Experiences unit was hit particularly hard by the outbreak last quarter.

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Wednesday, May 27


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Carlos A. Gómez Named Treasurer of The Walt Disney Company

DIS

BURBANK, Calif.--(BUSINESS WIRE)--Carlos A. Gómez has been named Senior Vice President and Treasurer of The Walt Disney Company (NYSE: DIS), it was announced today by Christine M. McCarthy, Senior Executive Vice President and Chief Financial Officer. "Carlos also has benefited from working closely with Jon and members of his team, gaining valuable insight into their operations. While we're all happy for Jon as he celebrates his retirement and will miss him as a colleague, he leaves behind an impressive legacy which includes an outstanding treasury organization and a strong roster of talent that he's developed over the years, of which Carlos is a tremendous example." In his new role, Mr. Gómez will be responsible for management and oversight of the Company’s global treasury organization, which includes corporate finance, liquidity management, capital markets and banking activities, interest rate and foreign currency risk management, enterprise project and structured finance, pension and investments, enterprise consumer payments, and global cash management and treasury operations. “I look forward to leveraging my experience in this new role to build on the foundation established by my predecessors to ensure the Company has the access to capital necessary to execute on its strategic priorities, and to help guide the team through this unprecedented time.”.

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Friday, May 22


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How Kevin Mayer 'Was Snubbed' At Disney And Has A Lot To Prove At TikTok

DIS

Walt Disney Co's (NYSE: DIS) former head of streaming Kevin Mayer "was snubbed" and is on a mission to show "greater relevance" as TikTok's new chief executive, says Eric Schiffer, the CEO of private equity firm The Patriarch Organization. Mayer was Disney's most senior executive in charge of all things streaming, including the company's direct-to-consumer video strategy. Most investors were "totally clueless" about Mayer's role at Disney and most top money players didn't consider him to be a "superstar," Schiffer told Benzinga. Mayer has an opportunity to show "greater relevance" at TikTok, which is the undisputed media outlet of choice for Generation Z -- the "hottest demo in the world."

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Thursday, May 21


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Walt Disney, Universal, SeaWorld make post-coronavirus reopening bids

DIS

The three major Orlando-area theme parks that make up one of Florida's biggest economic engines are getting closer to welcoming back guests after a months-long shutdown due to the rapid spread of COVID-19. Walt Disney Co. and SeaWorld Entertainment will follow suit at a later date, according to Bloomberg. Around 85 million people visited theme parks in Orlando and Tampa in 2018, the most recent year available, according to an annual report put out by the Themed Entertainment Association and AECOM. DeSantis said theme-park operators can begin reopening once their plans are approved by local authorities, Bloomberg reported. However, Jerry Demings, the mayor of Orange County, cautioned that resorts won't likely open fully until June at the earliest.

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Wednesday, May 20


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Hulu Updates Its User Interface, Aiming To Improve Film And TV Discovery – Deadline

DIS

Hulu has updated its user interface with the goal of improving content discovery and providing a more consistent experience across the other services included in its bundled offering with Disney+ and ESPN+. Operated jointly by multiple media companies since its 2007 launch, Hulu last year came under the control of Disney following its buyout of Comcast’s stake in the service and acquisition of most of 21st Century Fox. Disney then integrated Hulu into a $13-a-month bundle with Disney+ and ESPN+ last fall, with the bundle helping drive subscriptions of all three services. As of March 31, Hulu reported 32.1 million total subscribers, including 3.3 million customers of its live TV package, up 27% from the same period in 2019. “This navigation pattern is something our viewers are accustomed to and matches the navigation pattern across Disney+ and ESPN+,” they wrote, “making it easier for viewers who subscribe to the Disney bundle to switch between services and navigate with ease.”.

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TikTok poaches Disney vet Mayer, prompting Mouse House reshuffle

DIS CPB

Kevin Mayer: Leaves Disney to become the CEO of TikTok. Prior to this he was Disney’s executive vice president, Corporate Strategy, Business Development, and Technology, and was seen as the company’s mergers guy, having been involved with the purchases of Pixar, Marvel Entertainment, Lucasfilm, Club Penguin and Maker Studios, as well as its agreement reached in December 2017 to acquire most of the 21st Century Fox assets. Like everyone else, I’ve been impressed watching the company build something incredibly rare in TikTok – a creative, positive online global community – and I’m excited to help lead the next phase of ByteDance’s journey as the company continues to expand its breadth of products across every region of the world. I’m especially grateful to [former Disney CEO] Bob Iger for his visionary leadership and mentorship over many years, and to [Disney CEO] Bob Chapek whom I greatly admire.”.

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Hedge Funds Dumped Disney, Comcast For Charter Communications

DIS CHTR

Once every quarter hedge funds with at least $100 million in total positions in publicly traded US stocks, options, and convertible debt are required to open the kimono and disclose the number of shares and the total value of its positions in each of the stocks and options in its portfolio. Hedge funds hire some of the smartest Ivy League graduates as their analysts, have access to industry insiders whom they "consult" with, unconventional data sources that cost tens of thousands of dollars, years of experience and millions of dollars as incentives to come up with the next great investment idea. Every quarter we process around 800 hedge funds' 13F filings to identify each hedge fund's new moves, top stock picks, and more importantly overall sentiment changes towards each of the 4000 stocks that are publicly trading. The top 10 most popular stocks among hedge funds beat the S&P 500 Index by more than 109 percentage points over the last 5.5 years (watch the video below to see the top 5 hedge fund stocks right now).

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Tuesday, May 19


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Breakingviews - Corona Capital: Natural gas, Disney, Brazil

DIS

DALLAS/NEW YORK/MILAN/HONG KONG/LONDON (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. The logic: Lower oil prices could mean higher natural gas prices as shale wells, which produce gas along with oil, are shut down. But will natural-gas output really fall enough to push up prices? The U.S. Energy Information Administration says that gas production, which hit a record last year, will fall 3% this year to an average of 90 billion cubic feet per day. UK budget carrier easyJet admitted “highly sophisticated” cyber attackers had accessed the personal details of nine million of its customers from January. Even though easyJet said there was no evidence of any information misuse, it could still be fined up to 4% of turnover.

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TikTok: Disney's streaming chief Kevin Mayer to become TikTok CEO, IT News, ET CIO

DIS

Walt Disney's top streaming executive, Kevin Mayer, will leave the entertainment and theme parks giant to become the chief executive officer of TikTok, the popular video app owned by China's ByteDance, the companies said on Monday. Mayer led the successful launch of the Disney+ streaming service in November but in February was passed over as Disney's new chief executive. TikTok, which allows users to create short videos with special effects, has become wildly popular with U.S. teenagers doing viral challenges that pair dances with music clips from the app's library. TikTok has hinted at ambitions to build a music streaming business, announcing in January that it was partnering with U.K.-based music rights agency Merlin to expand its musical selections.

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TikTok hires Disney exec as new CEO

DIS

ByteDance, the parent company of TikTok, announced it has brought on longtime Disney executive Kevin Mayer to be the company’s chief operating officer. Moreover, Mayer will lead music, gaming, Helo and emerging businesses in addition to serving as CEO of TikTok. “Kevin has had an extraordinary impact on our company over the years, most recently as head of our direct-to-consumer business,” said Disney CEO Bob Chapek in a company statement. "Like everyone else, I've been impressed watching the company build something incredibly rare in TikTok – a creative, positive online global community – and I’m excited to help lead the next phase of ByteDance’s journey as the company continues to expand its breadth of products across every region of the world,”.

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