DeSantis Vs. Disney: Florida Governor Accuses Company Of Cronyism, Says 'They Have Lost...We're Moving Forward'
Portfolio Pulse from Shanthi Rexaline
Florida Governor Ron DeSantis criticized Walt Disney Co. (NYSE:DIS) for cronyism and defended the state's takeover of the district previously controlled by Disney. An audit by the Central Florida Tourism Oversight District (CFTOD) revealed cronyism under Disney's control. DeSantis highlighted the state's success in saving money and promoting local business competition since the takeover. Disney's lawsuit against the state was dismissed by a federal judge, which DeSantis views as a victory and a step forward for Florida.
February 28, 2024 | 12:04 pm
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NEGATIVE IMPACT
Walt Disney Co. faces criticism from FL Gov. DeSantis for cronyism and loses control of the district previously under its administration. A federal judge dismissed Disney's lawsuit against the state.
The public criticism from a high-profile governor and the legal setback could negatively impact Disney's public image and potentially its operations in Florida. The dismissal of Disney's lawsuit and the loss of control over the district could be seen unfavorably by investors, possibly affecting the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100