What's Going On With Disney Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Disney (DIS) stock is trading higher amid reports of the company engaging former executives Kevin Mayer and Tom Staggs as advisors to CEO Bob Iger to deal with legacy television businesses, including ESPN. Mayer and Staggs, who now run Candle, a media group backed by Blackstone Inc (BX), will also work with ESPN president Jimmy Pitaro to explore strategic options for the sports channel. The Disney board has appointed a four-person committee, led by Mark Parker, the former Nike, Inc (NKE) chief and current chair of Disney's board, to find Iger's successor.
July 31, 2023 | 1:09 pm
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POSITIVE IMPACT
Disney's stock is trading higher due to the engagement of former executives as advisors to the CEO. This move could potentially strengthen the company's strategy for its legacy television businesses.
The engagement of former executives as advisors to the CEO is seen as a positive move by the market, leading to a rise in Disney's stock. Their experience and knowledge could potentially strengthen the company's strategy for its legacy television businesses, including ESPN.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Blackstone Inc is indirectly involved in the news as it backs Candle, a media group run by the former executives who are now advisors to Disney's CEO.
Blackstone Inc is indirectly involved in the news as it backs Candle, a media group run by the former executives who are now advisors to Disney's CEO. This could potentially have some impact on Blackstone, but it is not directly related to the company's operations or performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Nike's former chief, Mark Parker, who is the current chair of Disney's board, is leading a committee to find Disney's next CEO.
Nike's former chief, Mark Parker, is involved in the news as he is leading a committee to find Disney's next CEO. This could potentially have some impact on Nike, but it is not directly related to the company's operations or performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50