Activist investorDan Loebissued a letter to$Walt Disney(DIS.US)$CEOBob Chapekand the company's Board of Directors Monday. Loeb took a stake in Disney viaThird Pointand is seeking to have constructive engagement with the company.
In the letter, Loeb congratulates Chapek on the recent quarter and the success of Disney+. The investor highlights a transition from theatrical releases to digital distribution, similar to a SaaS (software as a service) business model.
"We expect to see the quality of Disney's financial results improve as the company's business shifts further," Loeb writes.
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