{
  "docId": "019dd923-622b-71dc-a6db-a8948f12a2f8",
  "docSlug": "83e53ed5ec0b",
  "documentTitle": "The Walt Disney Company (DIS)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 98,
  "pageCount": 133,
  "prevPage": 97,
  "nextPage": 99,
  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a 'Strategic Checklist' format to frame the lack of clarity as a problem to be solved by Trian's nominees.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-a8948f12a2f8/98",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8#slide-98",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "If elected to the Board, Trian’s nominees will ensure that Disney articulates a DTC strategy that provides clarity on these topics:",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14da-72ce-9f98-aa988b049cc7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.28,
        "x": 0.08,
        "y": 0.26
      },
      "kind": "paragraph",
      "text": "We believe that investors are undervaluing Disney’s media assets at today’s valuation in large part due to questions around the strategy and future earnings power of the DTC business. In our view, Disney’s DTC strategy lacks a clear “North Star” to help investors understand how Disney plans to earn a return on tens of billions invested to date. If elected to the Board, Trian’s nominees will ensure that Disney articulates a DTC strategy that provides clarity on these topics:",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "68905cee-f866-40c7-a323-280b4d10fdfa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.55,
        "x": 0.38,
        "y": 0.23
      },
      "kind": "table",
      "text": "Strategic Checklist: Long-Term Margin Potential, Sustainable Growth Rate, International Strategy, Brand Management, Engagement, Cost Efficiency",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bdf96e66-c532-4f40-ad89-0b92c6944b31",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Disney’s DTC Strategy Needs a Clear “North Star” on Future Growth and Profitability Goals",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c8118cc4-50cf-4188-8c8d-bd3441f34327",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "diagnostic-test",
      "slug": null,
      "matchId": "07e67e9a-7d67-4424-84ad-b00a7cf05ea1",
      "evidence": "The slide presents a checklist of strategic questions to diagnose the current lack of clarity in Disney's DTC strategy.",
      "confidence": 0.85
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}