Loeb Expands Media Stakes -- Buys 1.8 Million Disney Shares
Activist investor Daniel Loeb, who has been urging Sony to spin off some of its entertainment holdings and use the receipts to bolster its electronics business, may now play a role in effecting changes at Disney. In his SEC filing on Wednesday, he disclosed that his Third Point hedge fund owns 1.8 million Disney shares, worth about $114 million. However, MarketWatch.com, citing a person familiar with the matter, said that Loeb has no plans to launch a push for any changes at Disney. The investment expands Loeb's media holdings. Also included in his portfolio, besides Disney and Sony, are MGM, Yahoo!, News Corp and Liberty Global.