Another fictional television character suffered a Peloton-induced heart attack Sunday night while the company itself is on life support. Some investors are now even pushing for Peloton to sell.
Showtime’s Billions is the latest to give Peloton a dose of bad publicity after Mike “Wags” Wagner had a heart attack on the popular exercise bike. But unlike Mr. Big in “And Just Like That,” whose death sent the stock price tumbling 11%, Wags survives. He even exclaimed, “I’m not going out like Mr. Big,” a line show producers said was added in post production. The scene was originally shot and written months before Mr. Big’s on-screen death.
Peloton said it “did *not* agree for our brand or IP to be used on Billions or provide any equipment.”
We get TV shows want to include @onepeloton to get people talking, but to be clear, we did *not* agree for our brand or IP to be used on @SHO_Billions or provide any equipment. As the show itself points out, cardio-vascular exercise helps people lead long, happy lives.
— Peloton (@onepeloton) January 23, 2022
Wags may have survived, but Peloton may not. After shedding more than 80% of stock value from its record high, the company is flailing.
Activist investor Blackwells Capital – which owns less than 5% stake – is pushing Peloton to fire CEO and co-founder John Foley and seek a sale, according to Bloomberg.
It’s not the only sale whisper out there. With a market cap now under $10 billion, lots of company names are being floated as possible suitors, from Apple to Nike to Amazon to Equinox.
Peloton, which hired consulting firm McKinsey to restructure, has so far floated the idea of layoffs but not a sale.
