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  "authorName": "Trian Partners",
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  "presentationDate": "2024-03-01 00:00:00",
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  "notes": "Uses a quote from Bob Iger's own book to highlight the irony of 'management by press release'.",
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      "kind": "paragraph",
      "text": "Disney's recently-announced strategic initiatives are lacking in detail to sufficiently evaluate their merits. It is hard to imagine a fully engaged Board would allow the announcement of term-sheet deals without defined returns, goals, or sufficient notification to key partners.",
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      "kind": "quote",
      "text": "\"[M]anagement by press release\" — meaning that if I say something with great conviction to the outside world, it tends to resonate powerfully inside our company.\"",
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      "text": "Source: SEC filings, Company transcripts, Company press releases, WSJ article titled 'Streaming Venture From ESPN, Fox and Warner Blindsides Sports Leagues,' by Joe Flint and Isabella Simonetti published 02/07/24. The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of The Walt Disney Company, by Robert A. Iger published in 2019. Note: (1) Forbes article titled 'Disney Tries Again To Get Game Business Right With Epic, Fortnite Deal,' by David Bloom published 02/07/24.",
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      "kind": "table",
      "text": "Comparison of Epic Games investment and Sports Bundle JV with critiques and supporting quotes.",
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      "kind": "title",
      "text": "Recent Strategic Announcements Appear Half-Baked and Highlight Continued Failures of Oversight",
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