Activist investor Third Point discloses $1bn stake in Disney, will push for changes

News in brief

Activist hedge fund Third Point disclosed a $1bn (0.4%) stake in Disney on Monday, according to reports.

Daniel Loeb, the billionaire investor who runs Third Point, is reportedly seeking to push Disney to reshape its board, buy out Comcast’s remaining minority stake in Hulu to integrate the platform directly into Disney+, and spin off sports channel ESPN, among other proposals.