The Walt Disney Co. should halt its $3 billion annual dividend and instead spend that money on content for Disney+. That is the crux of a letter sent by activist investor Dan Loeb — the founder of the hedge fund Third Point — to Disney CEO Bob Chapek and the company's board of directors Wednesday. "By reallocating a dividend of a few dollars per share, Disney could more than double its Disney+ original content budget," Loeb writes in the letter, which was obtained by The Hollywood Reporter.
Read more on hollywoodreporter.com