New York (HedgeCo.Net) – Activist investor Daniel Loeb and his hedge fund Third Point LLC, has acquired an approximate $112 million stake in Disney, according to report by Bloomberg this morning.
Third Point now owns 1% or 1.8 million shares of Disney, according to reports.
Sony Corp last week rejected Daniel Loeb’s idea for a spinoff of part of Sony’s entertainment arm that would have included a Hollywood movie studio and music business. The board unanimously rejected the deal.
“The Sony board of directors has unanimously concluded that continuing to own 100 per cent of our entertainment business is the best path forward and is integral to Sony’s strategy,” the president of Sony, Kazuo Hirai, said in a letter to hedge fund billionaire Daniel Loeb.
According to regulatory filings Third Point also owns (at the end of the last quarter) four million shares of News Corp, worth some $130.3 million, three million Class A shares of Liberty Global, worth $220.4 million, and two million Class C shares of Liberty Global, worth $136 million.
Alex Akesson
For HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
