6 Top Stories Drive Trading Action in Dow 30 Consumer Stocks This Week
The Walt Disney Company (NYSE:DIS): Current price $55.33
Disney’s ESPN expects to keep the broadcasting rights to the Big East after matching a contract offer from NBC (NASDAQ:CMCSA), according to the Associated Press. Thus far, no details have been divulged, but one source believes that NBC offered the Big East a six-year-deal worth roughly $20 million per year.
The Proxy advisers ISS and Glass, Lewis & Co have urged shareholders to okay a proposal to split the chairman and chief executive roles at Disney, says Reuters. They also pressed the shareholders to vote “against” the compensation for Chief Executive Robert Iger and other executives.
What could follow when the “bundle” begins to unravel is becoming intensely important for the cable-TV business. Attacks on the bundle approach have increased, and now pay-TV executives, as well as its customers, are envisioning a world in which the bundle is no longer sovereign, although such a scenario might be years away, according to the Wall Street Journal.