Item 1 of 2 The logo of the Walt Disney Company is displayed above the floor of the New York Stock Exchange shortly after the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. REUTERS/Lucas Jackson/File PhotoThe logo of the Walt Disney Company is displayed above the floor of the New York Stock Exchange shortly after the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020.
The contest is the most closely watched boardroom clash in the United States this year, serving as a referendum on the future of the century-old Mouse House as it navigates the entertainment industry's shift to streaming. By late Monday, Disney appeared to have moved ahead in the race with more than 50% of all shares voted and large shareholders including T. Rowe Price having announced their votes for the company, according to people familiar with the matter.
The entertainment giant, valued at $222 billion, is battling billionaire hedge fund investor Nelson Peltz, who runs Trian and has argued Disney has lost its creative spark and bungled its succession planning.