Massive Shakeup: Marvel Founder Sells ENTIRE $3 Billion Disney Stake – His Secret Plan Unveiled…

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Massive Shakeup: Marvel Founder Sells ENTIRE $3 Billion Disney Stake – His Secret Plan Unveiled…

Isaac Perlmutter, one of Disney's largest investors, has made a dramatic exit. After a bitter proxy fight loss, Perlmutter, a former Disney executive, sold off his entire stake in the media giant. With how nasty things got, I wouldn't be surprised if his grandkids are now on the "Do Not Admit" list at the theme parks.

According to today’s report, between early April and mid-July, Perlmutter unloaded his shares at an average price just shy of $115. But rumor has it, if Mickey's market value drops to between $65 and $75, Perlmutter plans to swoop back in like a seagull eyeing a Ritz cracker at the beach and buy back a chunk of his old stake.

So how did we get to this? Last year, Perlmutter backed activist shareholder Nelson Peltz in an unsuccessful bid to snag a seat on Disney's corporate board.

The communications with his investment adviser confirm that Perlmutter sold all 25.6 million shares after the Disney board's no-go vote.

Perlmutter originally became a Disney bigwig in 2009, when he sold Marvel Entertainment to the Mouse House for over $4 billion. That’s right, the guy who helped bring you Captain America and The Avengers is now watching Disney’s stock like a hawk, waiting for the perfect moment to pounce.

In a recent interview, Perlmutter didn't hold back his skepticism about Disney's current management, predicting the company’s share price and financial performance would continue to slide faster than a kid on a water slide at Typhoon Lagoon.

Speaking of battles, Perlmutter has handed over control of his voting shares to fellow billionaire Nelson Peltz, setting the stage for a proxy war sequel against Disney’s CEO, Bob Iger. With the stock languishing near nine-year lows, Perlmutter, who was unceremoniously booted from Disney earlier this year, is teaming up with Peltz like Captain America and Ironman ready to take down the villain in Captain America: Civil War.

(Source: Rolling Stone)

Armed with Perlmutter’s shares, Peltz’s stake in Disney now stands at a formidable 33 million shares worth about $2.5 billion. This gives Peltz, who already had a tough proxy fight with Disney less than a year ago, a stronger hand to push for more seats on the board when the nominating window opens in December.

Disney shares, once soaring to an all-time high of over $191 in March 2021, are now sitting at a mere $91.13. Peltz has been pushing for drastic changes, including slashing spending and executive pay.

Perlmutter, has made it clear that his firing was due to fundamental disagreements with Iger over Disney’s business strategy, I guess he’s not the only one who thinks the new Marvel movies suck. “All they talk about is box office, box office,” Perlmutter said. “I care about the bottom line. I don’t care how big the box office is. Only people in Hollywood talk about box office.”

Adding fuel to the fire, Disney's CEO was recently caught on camera saying there's no way they'd hire a white male. Given the way the company’s being run, Perlmutter might get his target price point soon.

Stock.News has positions in Disney.