Daniel Loeb Takes Stake in Disney
The billionaire's hedge fund has purchased shares worth about $114 million, or less than 1 percent of the conglomerate.
Daniel Loeb, the activist investor who has been trading barbs with Sony lately, has revealed a stake in Walt Disney Co.
In a regulatory filing, the billionaire hedge-fund manager said his Third Point investment vehicle owns 1.8 million shares of Disney, worth about $114 million, as of the quarter ended on June 30, 2013.
Loeb's stake in Disney amounts to less than 1 percent of the company.
Although Loeb is a famously activist investor, Nasdaq.com, citing a person familiar with the matter, reported that he has no plans to agitate for changes at Disney.
At the end of the quarter, Third Point also owned four million shares of News Corp, worth some $130.3 million, three million Class A shares of Liberty Global, worth $220.4 million, and two million Class C shares of Liberty Global, worth $136 million.
Third Point's end-of-quarter filing did not show a stake in Sony, though letters between Loeb and Sony CEO Kazuo Hirai indicate a stake of about 70 million shares.
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