Activist investor Daniel Loeb's hedge fund, Third Point, has acquired $113.7 million of Disney stock, regulatory filings indicate.
Loeb's company, which this summer pressed Sony Corp. to make a public offering of up to 20% of its entertainment arm, owned 1.8 million shares of Disney stock as of June.
Shares of Disney were down more than 2% on Thursday to $62.54.
Spokespersons for Disney and Third Point did not immediately respond to requests for comment.
Sony responded to Loeb's call for a spinoff earlier this month -- though the New York investor was disappointed by the answer.