Peltz’s Plan to Fix Disney Includes Bundling ESPN+ With Netflix

Activist investor Nelson Peltz believes Walt Disney Co. can achieve profitability in streaming by bundling its ESPN+ online service with a larger player interested in sports, such as Netflix Inc., according to people familiar with the matter.

Peltz’s Trian Fund Management LP will publish a so-called white paper detailing its investment thesis and recommendations for Disney in the weeks after the entertainment giant’s next earnings report on Feb. 7, according to the people, who asked not to be identified discussing nonpublic information.