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Disney says Sheryl Sandberg, Jack Dorsey are leaving its board as Facebook, Twitter push into media

John Shinal

Walt Disney Co.

(NYSE: DIS)

said late Friday that

Sheryl Sandberg

and

Jack Dorsey

won't be re-nominated to its board, citing conflicts of interest as Facebook and Twitter push further into Disney's businesses.

In its

annual proxy filing

, the media giant said it would propose a slate of 10 directors at its annual shareholder meeting, and neither Sandberg, the Facebook

(NASDAQ: FB)

COO, nor Twitter

(NYSE: TWTR)

CEO Dorsey were included on it.

In a statement, Disney

(NYSE: DIS)

made reference to moves by both social media companies to produce or license an increasing amount of media and entertainment content.

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to Board matters, and they are not standing for re-election," the statement said.Twitter last year signed a deal with the NFL for a 30-minute digital show that it aired five nights a week during the league's season. Facebook live-streamed 15 college-football games in 2017 in a deal with Stadium, a digital sports broadcaster. Disney's ESPN broadcasts both pro and college football games.WATCH: Disney's new narrative

Walt Disney Co.

(NYSE: DIS)

said late Friday that

Sheryl Sandberg

and

Jack Dorsey

won't be re-nominated to its board, citing conflicts of interest as Facebook and Twitter push further into Disney's businesses.

In its

annual proxy filing

, the media giant said it would propose a slate of 10 directors at its annual shareholder meeting, and neither Sandberg, the Facebook

(NASDAQ: FB)

COO, nor Twitter

(NYSE: TWTR)

CEO Dorsey were included on it.

In a statement, Disney

(NYSE: DIS)

made reference to moves by both social media companies to produce or license an increasing amount of media and entertainment content.

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to Board matters, and they are not standing for re-election," the statement said.

Twitter last year signed a deal with the NFL for a 30-minute digital show that it aired five nights a week during the league's season. Facebook live-streamed 15 college-football games in 2017 in a deal with Stadium, a digital sports broadcaster. Disney's ESPN broadcasts both pro and college football games.

WATCH: Disney's new narrative



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