Disney and its rivals are breaking spending records for this week's shareholder fight

• Disney's proxy battle is expected to cost the company and rival hedge funds at least $70 million.
• Retail investors make up a big chunk of Disney shareholders, and it's expensive to reach them.
• The outcome of the shareholder vote could change Disney's direction, but its impact is still unclear.

This week's big Disney shareholder vote is supposed to be a seismic event — a referendum on the future of one of the world's most important entertainment companies.

Maybe!