Bill Cohan discusses Shari Redstone's Skydance decision and Bob Iger's proxy win. The podcast also explores AI in corporate battles, Sherry Redstone negotiation dynamics, and AI transparency concerns at Disney. Gary Gensler warns about financial risks of AI and the importance of truthful disclosures.
Shari Redstone considers separating National Amusements and Paramount, potentially leading to shareholder losses.
Nelson Peltz's bid for board seat at Disney, highlighting challenges like streaming profitability, faced rejection.
Deep dives
Sherry Redstone's Negotiations with Skydance and Paramount
Sherry Redstone is considering selling National Amusements and Paramount separately, potentially leading to shareholder losses. Skydance, led by David Ellison, wants to acquire Paramount's assets. While Apollo offered a substantial premium for Paramount, the special committee led by Sherry leans towards selling NAI separately, sparking shareholder concerns and risks.
Nelson Peltz's Activism at Disney
Nelson Peltz's activism at Disney, pushing for a board seat and succession planning after Bob Iger, faced rejection. Despite highlighting Disney's challenges like streaming profitability and lack of creativity, Peltz's bid was deemed inadequate. The focus on board reshuffling and profitability issues didn't result in Peltz gaining board seats, emphasizing ongoing concerns within Disney's leadership landscape.
AI Transparency and Shareholder Demands
Labor unions and stakeholders pressing for AI transparency in corporate operations faced resistance from companies like Disney. Shareholders demand insights into AI usage amidst concerns over job impact and ethical guidelines. Regulatory attention, exemplified by SEC Chair Gary Gensler's focus on AI disclosures and avoiding 'AI-washing,' signals a rising need for transparency and accountability on corporate AI strategies.
Bill Cohan joins Peter to discuss Shari Redstone’s decision to go forward with Skydance and Bob Iger’s proxy war success. Then Eriq Gardner and Ben Landy broach the latest A.I. minefield.