NewsNovo
ValueAct Capital's second-quarter disclosure positions the activist firm as a buyer of digital platforms and a seller of legacy media, though the filing raises as many questions as it resolves.
The manager initiated a new stake in PayPal Holdings (PYPL), added to positions in Amazon.com (AMZN) and Spotify Technology (SPOT), and exited The Walt Disney Company (DIS) in full.
The case ValueAct is making Read together, the moves suggest a preference for platforms with direct consumer billing relationships and recurring revenue over a conglomerate still navigating the distance between linear television and streaming.
Disney has been one of the more contested names in large-cap media, so a complete exit from DIS carries real weight.
Keep reading