AllAnalyst Report
logoMorningstarOctober 08, 2020

The Walt Disney Company: Third Point Lays Out a Compelling Case to Cut Disney’s Dividend and Reallocate Funds to Streaming

Symbols
DIS
Sector(s)
Communication Services
Rating
Premium
Current Price
$151.49
Fair Value
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Economic Moat
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Stewardship
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Summary

Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker. These characters and others are featured in several Disney theme parks around the world. Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm and also operates media networks including ESPN and several TV production studios. Disney recently reorganized into four segments with one new segment: direct-to-consumer and international. The new segment includes the two announced OTT offerings, ESPN+ and the Disney SVOD service. The plan also combines two segments, parks and resorts and consumer products, into one. The media networks group contains the U.S. cable channels and ABC. The studio segment holds the movie production assets.

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