The nascent Bob Iger-Nelson Peltz proxy war is gearing up to be far more feisty than their first encounter almost a year ago.
WALL STREET December 3, 2023
News and notes on the three biggest stories at the intersection of media and finance: some micro-updates on Zucker’s Telegraph bid, Elon’s debt gamble, and the latest round of Iger versus Peltz.
Not only would a Jeff Zucker deal potentially kill the auction for the publications, it might also allow RedBird IMI to get the assets more cheaply than if they were bid up in a formal process.
WALL STREET November 29, 2023
News and notes emanating from the finance-media-tech vortex: insights into Jeff Zucker and RedBird IMI’s debt-for-equity Telegraph offer and Microsoft’s governance peccadilloes.
“I’ve never had better material,” Michael Lewis said. “The material is unbelievable. And it was. But it had to pass through this American moral filter.”
WALL STREET November 26, 2023
The bestselling author of Going Infinite hits back at the “shit show” criticism of his book, the spectacle inside the courtroom, and S.B.F.’s putative $5 billion offer to Trump.
Trian founder partner Nelson Peltz has commenced a proxy battle against Disney to get the board seat Iger denied him.
WALL STREET November 19, 2023
News and notes on the latest Wall Street swirl: Nelson Peltz’s fuzz math, Zaz’s denominator problems, and the latest leg of the ARK saga.
There were a few Easter eggs in Bob Iger’s analysis of Disney’s quarterly performance that may appease Nelson Peltz.
HOLLYWOOD November 15, 2023
Will embattled Disney chief Bob Iger manage to ward off a looming proxy fight with Trian’s hyper-aggressive activist investor Nelson Peltz after his latest incursion into Disney’s cap table?
Since the start of the WBD journey, according to David Zaslav, the company has paid down $12 billion of debt and is generating “over $5 billion in free cash flow” at the moment.
WALL STREET November 12, 2023
An examination of the hidden green shoots at WBD. Plus, notes on the latest maneuvers at BDT & MSD Partners, and how S.B.F.’s downfall is reverberating through the crypto universe.
Copeland portrays Dalio as a cruel-hearted megalomaniac who delighted in reducing his partners—to say nothing of many others who work at Bridgewater—into insecure, quivering piles of jello.
WALL STREET November 8, 2023
A wide-ranging conversation with Rob Copeland, the author of a provocative new book about Ray Dalio and his hedge fund.
Bridgewater founder Ray Dalio in 2019.
WALL STREET November 5, 2023
News and notes and the latest intrigue swirling around Wall Street: what’s in the Dalio book, Munger’s wisdom, and Shari’s choice.
Could there ever be a proverbial “run on the bank” at Bank of America, as there was at SVB earlier this year?
WALL STREET November 1, 2023
Bank of America has what appears to be $136 billion of unrealized losses on its balance sheet. Is this a material nightmare, or simply an explanation for why its market cap is half of the Bank of Dimon?
Ari Emanuel’s Endeavor has always been either hard to understand or misunderstood.
WALL STREET October 29, 2023
News and notes from around Wall Street: Ari’s take-private idea, Jamie Dimon’s stock sale, and James Gorman’s newly-appointed successor.
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