LOS ANGELES, Reuters Walt Disney CEO Bob Iger hit back at activist investors on Wednesday with a slew of announcements, including a splashy investment in Fortnite maker Epic Games and plans to launch an ESPN streaming service in 2025.

Iger revealed the plans after Disney39;s board of directors authorized a 3 billion share repurchase program for the current fiscal year, and declared a dividend of 45 cents a share, a 50 increase from the dividend paid in January. Earningspershare topped Wall Street forecasts.

Together, the moves helped boost Disney shares nearly 7 in afterhours trading.

The company has been under pressure from activist investor Nelson Peltz, who is seeking Netflixlike profit for its streaming business, better boxoffice performance of its movies and more details about its plans to make ESPN a dominant digital platform.

Peltz is asking shareholders to add himself and former Disney executive Jay Rasulo to the company39;s board.

A spokesman for Peltz39;s Trian Fund Management said of Disney39;s earnings on Wednesday Its déjà vu all over again. We saw this movie last year and we didnt like the ending.

Among the new initiatives, Iger said Disney would take a 1.5 billion stake in Epic Games. The companies will work together to create a huge Disney universe where consumers can interact with characters and stories from Disney, Pixar, Marvel, Star Wars and Avatar, he said.

This marks Disneys biggest entry ever into the world of games and offers significant…