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Hedge fund billionaire Dan Loeb urges Disney to stop paying $3 billion dividend and use funds to grow Disney+

20 days ago   |   By Business Insider

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Hedge fund billionaire Dan Loeb urged Disney to suspend its dividend payments and instead use those funds to grow Disney+ streaming.
The founder of Third Point wrote a letter on Wednesday to CEO Bob Chapek saying that reallocating this dividend money could double the company's streaming services budget for original content, Bloomberg reported.
Loeb's push to build out streaming comes as in-person movie theaters continue to suffer throughout the pandemic .
"Every Hollywood executive has been able to enjoy first-run films in the comfort of their home theaters for...
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