DeSantis Targets Disney Florida Workers' 'Unethical' Perks To Save 'Millions Of Dollars' In Free Passes, Discounts

Comments
Loading...

Florida Governor Ron DeSantis has sought to go one up against Walt Disney Co. DIS in his ongoing feud with the company. In a complaint registered with the state Inspector General, the DeSantis-appointed Central Florida Tourism Oversight District board reportedly sought to stop the freebies handed out to district employees.

What Happened: The DeSantis-appointed board members said the millions of dollars in season passes as well as discounts on hotels, merchandise, food and beverages provided by their predecessors to governing districts employees tantamounted to unethical benefits and perks, Fortune reported, citing the complaint.

The earlier board was backed by Disney, which at the time enjoyed autonomous power to govern the district in which its theme park was located.

In 2022 alone, before the DeSantis-backed team took over the board, about $2.5 million in discounts and passes were given to the district employees and their families, the board alleged in the complaint. The money was funneled to Disney and the district incurred the expense, it added.

See Also: Best Media Diversified Stocks

Why It's Important: The tussle between Disney and DeSantis started a year back when the company took exception to the “Don't Say Gay” law passed by Florida. In return, DeSantis moved in to clip Disney's power in the district. The entertainment giant promptly filed a case against the governor in a federal court on the grounds that he was pursuing retaliatory tactics.

An expert, however, does not see the arrangement as taxpayer scam, the report said. Richard Foglesong, a Rollins College professor emeritus – an authority in Disney World's governance, reportedly said the arrangement appears more like an employee benefit, like how university professors get free pass to athletic events or free tuition for family members.

In premarket trading on Tuesday, Disney shares rose 0.30% to $86.44, according to Benzinga Pro data.

Read Next: Disney Q3 Earnings Highlights: Revenue Miss, EPS Beat, 105.7 Million Core Disney+ Subscribers

Overview Rating:
Speculative
50%
Technicals Analysis
100
0100
Financials Analysis
20
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!