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  "documentTitle": "Trian Partners | Activist Presentation Deck | 133 slides",
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  "authorName": "Trian Partners",
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  "notes": "The slide uses a 'Strategic Checklist' framework to frame the problem as a lack of transparency and strategic direction.",
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      "text": "If elected to the Board, Trian’s nominees will ensure that Disney articulates a DTC strategy that provides clarity on these topics:",
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      "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.",
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