Disney’s Other Activist Investor Wants It to Spin Off Real Estate Holdings and Bet on Virtual Reality

Should The Walt Disney Co. put all of its real estate holdings into a REIT (a “real estate investment trust”)? Should the company pour resources into virtual reality and artificial intelligence?

Blackwells Capital thinks so.

While Disney is responding to an activist investor fight from Nelson Peltz and his Trian Partners, it also fending off another push for board seats from a smaller activist firm: Blackwells Capital, run by Jason Aintabi. Blackwells filed its proxy statement Tuesday, and also included a whitepaper proposing some ideas to “transform” the company.