Walt Disney Co CEO Bob Iger dazzled Wall Street on Wednesday with sweeping changes and billions of dollars in cost cuts, and some analysts are convinced that will be enough to sway its harshest critic - activist investor Nelson Peltz.
Under the restructuring, Disney is cutting 7,000 jobs and reorganizing into three divisions - an entertainment unit encompassing film, television and streaming, a sports-focused ESPN unit and one with Disney parks, experiences and products. Peltz's Trian Fund Management, which holds a stake of about $1 billion in the media giant, praised Disney for what it said was a response to its suggestions."We are pleased that Disney is listening," a Trian spokesperson said.
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