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Disney vs. Florida, an Expert’s Take
Sometimes, the news happens to be on some issue where you have direct knowledge. Andrew Esquire over at Legal Mindset is a Florida lawyer who specialized in Special District law and other areas of Florida corporate law – all of which are in the center of the Florida vs. Disney fight. He actually worked with the Celebration, FL district as well as Universal Studios. He has absolutely no patience for woke BS, and he explains how Bob Iger and Disney have massively screwed up, potentially admitting to securities fraud.
(Also on Rumble if you prefer: https://rumble.com/user/LegalMindset )
It’s stunning how Disney has fallen since Walt died. Walt envisioned EPCOT as a city of the future, and was virulently anti-communist.
Published in Domestic Policy
I just started following “Legal Mindset” in the last few months. He is good. He caught on to Iger referring to Disney and Reedy Creek being one and the same and jumped all over it.
Disney may be able to buy a cheap judge or two, but short of that, it looks like the Mouse is cornered.
Disney’s bigger problem will be with Comcast.
Comcast owns 33% of HULU, and is going to exercise its option to sell to Disney (which owns the other 67%) … Disney wants to value the company at under $30 billion… Which would price the outstanding shares at around $9 billion…
Comcast wants to value HULU at $70 Billion… Which would price its stake at over $25 Billion…
Not that it matters… Disney has no liquid reserves in the bank… They have only 6 weeks of operating cash in the bank right now. (about $300 Million) … So Disney maybe forced to fire sale some assets to come up with the cash to pay off Comcast … Or Disney can try to pay for HULU in shares … But because of Disney’s depressed stock price could give Comcast 15% of Disney’s shares – and upto 5 seats on its board! Comcast would suddenly become Disney’s largest shareholder…
the LoLz…
Get woke, go broke. Disney is having to cancel projects. It tried to blame DeSantis.
They are not just canceling project, they are burying some. “Willow” and others are being memory-holed so that Disney can write them off as losses.
Yes, Disney is trying to preserve cash flow, so they’re lowering their tax burden with write-offs… Large corporations pay their taxes quarterly – or at least make payments on what their projected tax bill will be…SO generate losses by closing a 2 year old hotel, and ditch shows that nobody likes…
Saw this video earlier – its not exactly on the Disney v Florida dust up, but its very interesting:
All the government troubles in this guy’s professional life – wanna bet he’s still a reliable democrat?