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Disney hit back against Nelson Peltz in his bid for a board seat, saying this morning that the Trian Partners co-founder "does not understand" the media business.

Why it matters: Peltz last week launched a proxy fight inside the Magic Kingdom, accusing CEO Bob Iger of ruining shareholder value, particularly with its 2019 Fox deal. 

The latest: Disney formally responded to Peltz's push for a board seat this morning in an SEC filing, in which the company staunchly defended Iger's record during his first go-round as CEO while attacking Peltz's lack of media experience. 

"Nelson Peltz does not understand Disney's business and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem," the company said. 

Disney also defended incoming board chairman Mark Parker, pointing out that he led a "successful" CEO transition at Nike in 2020. 

In terms of the Fox deal, which Disney closed in 2019 for more than $71 billion, Disney said that Trian's analysis of that deal was "fundamentally flawed."

Disney defends Bob Iger, takes a swing at Nelson Peltz

Disney CEO Bob Iger. Image: (Photo by Rodin Eckenroth/FilmMagic via Getty Images)

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Disney hit back against Nelson Peltz in his bid for a board seat, saying this morning that the Trian Partners co-founder &quot;does not understand&quot; the media business.Why it matters: Peltz last week <a class="gtmContentClick" data-vars-link-text="launched a proxy fight" data-vars-click-url="https://link.axios.com/click/30272366.1346/aHR0cHM6Ly93d3cuYXhpb3MuY29tL3Byby9tZWRpYS1kZWFscy8yMDIzLzAxLzEyL2luc2lkZS1uZWxzb24tcGVsdHpzLXByb3h5LWZpZ2h0LXRvLWZpeC1kaXNuZXk_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19tZWRpYV9zdWJzJnN0cmVhbT10b3A/620abad222834b04215c2a57B27766cf8" data-vars-content-id="14f56af8-c4fe-4eac-b31d-62a2be2a61ac" data-vars-headline="Disney defends Bob Iger, takes a swing at Nelson Peltz" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/30272366.1346/aHR0cHM6Ly93d3cuYXhpb3MuY29tL3Byby9tZWRpYS1kZWFscy8yMDIzLzAxLzEyL2luc2lkZS1uZWxzb24tcGVsdHpzLXByb3h5LWZpZ2h0LXRvLWZpeC1kaXNuZXk_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19tZWRpYV9zdWJzJnN0cmVhbT10b3A/620abad222834b04215c2a57B27766cf8" target="_self">launched a proxy fight</a> inside the Magic Kingdom, accusing CEO Bob Iger of ruining shareholder value, particularly with its 2019 Fox deal.

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Disney defends Bob Iger, takes a swing at Nelson Peltz

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