Billionaire Disney activist Peltz hits out at all-black and all-female casts

THE billionaire activist investor waging war against Disney has hit out at the media giant over its use of all-black and all-female casts.

Nelson Peltz, who owns a stake in Disney worth roughly $3.5bn (£2.8bn), sided with accusations that the Hollywood behemoth has become too woke.

He said: “People go to watch a movie or a show to be entertained. They don’t go to get a message.”

Mr Peltz took issue with recent offerings The Marvels and Black Panther.

In an interview with the Financial

Times, the tycoon said: “Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that?

“Why can’t I have Marvels that are both? Why do I need an all-black cast?”

Disney’s push into more diverse casting marks efforts to balance its output after decades of mostly white and male characters and actors. It has also updated some of its classic fairy tales,

‘People go to watch a movie or a show to be entertained. They don’t go to get a message’

including Cinderella and Snow White.

But the films have fuelled criticism that Disney is focusing on political activism at the expense of its audiences.

After years of blockbusters, Disney’s film studios have suffered disappointing box office openings in recent years.

The Marvels recorded the worst box office debut in the history of the franchise. Mr Peltz has cited this lacklustre performance as one of the driving forces behind his activist campaign.

He has also raised concerns about huge pay packets for executives and poor succession planning.

The investor, who owns shares in Disney through his vehicle Trian Fund Management, is campaigning for board seats for himself and former Disney finance chief Jay Rasulo.

In a major boost to his campaign, Mr Peltz this week won the backing of influential advisory group Institutional Shareholder Services, which recommended that investors should vote to add the billionaire to Disney’s board. Disney was approached for comment.