Filmmaker and Hollywood legend George Lucas is endorsing Walt Disney CEO Bob Iger in the bitter proxy battle launched by activist investor Nelson Peltz.
Lucas is currently the largest individual investor in the company, multiple sources confirmed to CNBC.$4.05 billion purchase"Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better.
Disney has lined up a number of high-profile endorsements in its battle against Peltz and his firm, Trian Fund Management, from the heirs of Walt and Roy Disney to But the support from the Lucas endorsement is key, not only because of his role as Disney's largest individual shareholder, but also because of his standing in Hollywood. Lucas wrote and created the"Star Wars" and"Indiana Jones" franchises, some of the most popular films in history, and he helped pioneer tools such as digital film editing and computer-generated imagery.
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