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  "documentTitle": "2024 03 Investor Presentation",
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  "authorName": "The Walt Disney Company",
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  "notes": "The slide uses a combination of a bar chart for TSR comparison and a line chart/metric grid for iHeartMedia performance to discredit the board candidates.",
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      "kind": "callout",
      "text": "RASULO: IHEARTMEDIA METRICS ARE SIGNIFICANTLY DOWN ACROSS THE BOARD",
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      "text": "PELTZ: MSG SPORTS TSR TRAILS MARKET",
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      "text": "Stock declined 87% since Rasulo joined Board",
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      "text": "EBITDA Margin, EPS, Debt/LTM EBITDA, Firm Value/NTM EBITDA",
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      "text": "Nelson Peltz does not understand the media industry and does not bring additive skills to the Disney Board\nNeither does Jay Rasulo, who has not managed through the industry’s disruption or had an executive role since leaving Disney over eight years ago",
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      "text": "TSR: 87%",
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      "kind": "source-note",
      "text": "Source: FactSet as of 02/22/24. 1 Reflects TSR of MSGN from 10/28/14 (when Peltz joined Board, based on announcement date) to 09/30/15 (spin-off of Sports and Entertainment business), and MSGS from 09/30/15 to 02/22/23; 2 CNBC interview, 01/12/23; 3 IHRT share price data first available on 05/07/19 at listing on OTC Pink after Rasulo was appointed to Board on 05/01/19; 4 Reflects EPS of Success Company coming out of Chapter 11 bankruptcy from 05/01/19 to 12/31/19",
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      "text": "As their track records on other media-related boards demonstrate, neither Peltz nor Rasulo have the skills to help Disney",
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