In his latest move in the Disney proxy fight, investor Nelson Peltz and Trian Partners have released a 130-page memo taking aim at CEO Bob Iger. But how will Disney’s grandchildren backing Iger shake things up? Plus, SEAL Team script coordinator Brian Beneker is suing CBS Studios and Paramount, citing an “illegal policy of race and sex balancing.” Does he have a case? Kim Masters and Matt Belloni investigate.
All in the family? Bob Iger’s backing by several Disney heirs could prove to be a major support in the company’s proxy fight. “The Disney family doesn't always get along, and to see them coalesce here around Iger and basically say that Nelson Peltz would be the worst thing to happen to the company is significant," says Belloni. “While Disney is owned by a lot of institutional investors, there still are the ‘mom and pops’ and the people who own it because they love Disney. And those people look at the Walt family and say, ‘Okay, well, if they're on board, they're probably going to be on board, too.’”
American hustle? Brian Beneker’s lawsuit against CBS and Paramount is backed by Stephen Miller’s nonprofit conservative group, America First Legal Foundation. “What makes this stand out from a lot of other possible complaints is that this is the arrival of Stephen Miller of the Trump administration on the shores of Hollywood,” says Masters. “He has been chasing this kind of ‘anti-diversity’ stuff all over the place, and now I think he wants to bring it here
Risky business? In light of the lawsuit, the next move by Paramount and CBS could be dictated by their current financial situation. “I'm not sure CBS and Paramount want to get into a political battle right now, especially since we have talked many times already on the show about the view that they are going to sell and looking for a deal and you don't need that added on,” Masters explains.