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      "text": "Except as otherwise set forth in this letter, the views expressed in this letter reflect the opinions of Trian Fund Management, L.P. and its affiliates...",
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      "text": "Restore the Magic / Trian Partners",
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      "text": "1. Variety article titled... 2. Netflix launched... 3. In 2019, Disney acquired Fox... 4. Operating income... 5. Disney's total shareholder return... 6. Disney shareholders have collectively lost over $200 billion.",
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      "text": "Additional information, including instructions for how to vote your shares and stay connected with us, can be found at: www.restorethemagic.com",
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      "text": "Disney shareholders have collectively lost over $200 billion. “Over $200 billion” represents the cumulative market value lost between Disney’s all-time high closing price on 03/08/21 and 10/06/23. — Endnote 6",
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