Three former high-ranking Disney execs are "teaming up with" SHAQUILLE O'NEAL to "make acquisitions in the media and technology industries," according to Joe Flint of the WALL STREET JOURNAL. The group "created a special-purpose acquisition company," or SPAC -- an "increasingly popular way to raise money and list a company publicly without having to file for an initial public offering." The SPAC, Forest Road Acquisition Corp., in a SEC filing said that it would raise $250M for "deals for the blank-check company." Potential acquisitions "could include intellectual property and 'audience aggregation platforms' such as streaming platforms." Former Disney COO TOM STAGGS will "serve as chairperson of the entity’s strategic-advisory committee." As for the other former Disney execs, KEVIN MAYER is a "strategic adviser" and SALIL MEHTA has been "tapped as chief financial officer." O’Neal "will serve as a strategic adviser." MARTIN LUTHER KING III, the eldest son of MARTIN LUTHER KING JR. and a civil-rights activist, has been "tapped as a director" (WALL STREET JOURNAL, 10/9).
