(CNBC) Activist investor Dan Loeb is asking Disney Chief Executive Officer Bob Chapek to end the company’s annual $3 billion dividend to divert more capital to new Disney+ content. Loeb sent his proposal to Chapek on Wednesday in a letter, which CNBC has seen. Loeb’s Third Point Capital is one of Disney’s largest shareholders and bought more shares earlier this year in support of Disney’s repositioning around Disney+, its flagship subscription streaming service.
Activist investor Dan Loeb calls on Disney to end its $3 billion annual dividend and use the funds for Disney
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