(Bloomberg) -- ValueAct Capital has built a stake in Walt Disney Co., a person with knowledge of the matter said, adding more activist pressure to the US media and entertainment giant as it battles historic shifts in its industry. 

San Francisco-based ValueAct has amassed a significant holding in Disney and has engaged with the company, according to the person, who asked not to be identified discussing confidential information. 

Representatives for ValueAct and Disney didn’t immediately comment. The holding was reported earlier Wednesday by Activist Spotlight.

Disney is grappling with consumers turning toward streaming services, rather than traditional TV or movie theaters. Chief Executive Officer Bob Iger has said the company may sell channels like ABC, and that it’s looking for a strategic partner at ESPN. The CEO returned to run the company a year ago after Disney’s board fired Bob Chapek.

Shares in Disney rose as much as 3.7% on Wednesday. The stock was up 3% at 11:52 a.m. in New York, giving the company a market value of about $172 billion. 

Another prominent activist investor, Nelson Peltz, has been seeking several board seats at Disney after his firm Trian Fund Management boosted its stake in the entertainment conglomerate.

ValueAct has separately been building stakes in human resources technology company Recruit Holdings Co. and online travel firm Expedia Group Inc., and has engaged with both, the person said. The positions were reported earlier by Reuters. 

A representative for Expedia couldn’t immediately be reached for comment. A spokesperson for Recruit said the company appreciated ValueAct’s investment as a recognition of its value and long-term potential.

(Adds shares in fifth paragraph, details of ValueAct holdings in final two paragraphs.)

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