Benzinga - Florida Governor Ron DeSantis is on a warpath with Walt Disney Company (NYSE:DIS).
While in Israel, the potential Republican candidate for the 2024 presidential race responded to a lawsuit filed by the Burbank, California-based entertainment giant.
What Happened: Disney is suing the governor in U.S. District Court In Tallahassee, Florida, for allegedly targeting the company.
According to DeSantis, he’s just making Disney “live by the same rules as everybody else.” Disney does not want to pay taxes as everyone else and wants to control things without proper oversight, he claims.
"The days of putting one company on a pedestal with no accountability are over in the state of Florida," the governor said.
DeSantis’ international trip, which includes Japan and South Korea, is meant to bolster his foreign policy credentials. He has yet to formally announce his decision to run for president.
Why It's Important: Disney alleges that DeSantis waged a "targeted campaign of government retaliation" due to its opposition to a law informally called "Don't Say Gay."
The two parties have locked horns with each other for over a year. DeSantis’ Disney World oversight board recently nullified a deal that gave the company authority over design and construction decisions in its properties near Orlando. As a result, Disney took legal recourse.
DeSantis appointed the board to keep the powers of Disney in check.
DeSantis' communications director, Taryn Fenske, reacted to the lawsuit. "We are unaware of any legal right that a company has to operate its own government or maintain special privileges not held by other businesses in the state,” she said.
Disney shares traded up 0.61% at $97.20 in premarket trading, according to Benzinga Pro data.
Next: DeSantis Can’t Stop Disney From Moving Higher On A Break Of This Level – The Bull, Bear Case
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.