Activist investor adds Mouse House to his portfolio
Daniel Loeb, the activist investor best know for trying to shake up major media and technology companies, is at it again.
His hedge fund, Third Point, disclosed in public filings that it purchased 1.8 million shares in the Walt Disney Company last June. That represents a 1 percent stake in the company, and is valued at $115 million.
A spokeswoman for Third Point did not immediately respond to requests for comment.
That small a stake means that Loeb will have a harder time making his presence felt than he did with other media and technology investments.
At Sony, Loeb used his position as that company's largest shareholder to pressure its leadership to to spin-off its entertainment assets into a separate public company. The board of directors rejected that proposal earlier this month.
Loeb was more successful at Yahoo!, however. He was actively involved in pushing out Scott Thompson out of Yahoo! when he revealed that the former CEO had falsified his resume. Thompson did not have a computer science degree as he had claimed.
In July, Loeb stepped down from Yahoo!'s board.
His public agitation has been profitable for Loeb. Third Point made about $1 billion on its investment in Yahoo!
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