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Third Point Discloses $115 Million Stake in Disney

Hedge fund has no plans for a larger strategic push at the Mouse House

Daniel Loeb Disney Stake: $115 Million

Daniel Loeb’s Third Point LLC, the hedge fund that tried to force Sony Corp. to spin off its entertainment assets earlier this summer, disclosed a $115 million stake in Disney on Wednesday.

The filing, which gave information on Third Point’s holdings as of the end of June, reveals a holding of 1.8 million shares, or less than 1% of the Mouse House. Unclear was when, exactly, that stake was obtained.

A rep for Third Point did not respond to a request for comment.

Unlike his investment in Sony, however, Loeb has no larger plans for a strategic management push at Disney, according to a MarketWatch report.

In May, Third Point, a minority stakeholder in Variety Media, tried to push Sony’s board to spin off as much as 20% of its U.S.-based entertainment assets into a separately traded public company. The board rebuffed his efforts last month.

Besides Sony and Disney, Third Point has made investments in media companies including Yahoo and MGM.