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OT Roy O Disney Stock Sale

Discussion in 'Archive' started by Bill, Aug 21, 2003.

  1. Bill

    Bill Guest

    They announced on the news this morning to watch Disney stock. Apparently Roy intends to sell 40%. Has anyone else heard this? It sounds like a vote of no confidence to me, or am I reading this wrong?
     
  2. Fantasmic

    Fantasmic Member

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    Confirmed :-[--Here's the article from Yahoo!:

    WALT DISNEY CO. (NYSE:DIS - News)

    Roy Disney, the nephew of Walt Disney and vice chairman of Walt Disney Co., on Wednesday said after the market close that he struck a deal to sell more than 40 percent of his stake in the company in which he was the largest individual shareholder. Disney entered into a forward contract for the sale of 7.5 million Disney shares for about $163 million, but will keep voting control of the stock for five years, a spokesman said. Disney shares ended at $21.98.

    I'm afraid this means that he may be officialy fed up with the comapny and wants out. He probably can no longer endure the pain of the destruction of his uncle and father's legacy. How sad.
     

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