WHEN BOB IGER returned to the top job at Disney in November 2022, some anticipated a fairytale ending to the entertainment giant’s troubles. In February last year Nelson Peltz, a feared activist investor, called off a campaign by his hedge fund, Trian Partners, for a shake-up after Mr Iger announced measures to slash costs and otherwise improve Disney’s fortunes.
With the company’s share price languishing, however, Mr Peltz returned to the warpath in October. Blackwells, another activist investor, launched a campaign of its own. Both sought seats on Disney’s board, arguing it had grown too chummy with Mr Iger and failed to find
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