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Third Point Partners’ Dan Loeb penned a letter to The Walt Disney Company CEO Robert Chapek, urging him to permanently end the company’s $3 billion annual dividend and instead spend it on Disney+.Q3 2020 hedge fund letters, conferences and moreWhile activist investors are not known for demanding companies return less money to shareholders, Loeb believes Disney+ to be at an inflection point. “By reallocating a dividend of a few dollars per share, Disney could more than double its Disney+ original content budget,” Loeb wrote in the letter to Chapek, which was obtained by Activist Insight Online….

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