May 4th is widely known as "Star Wars Day" due to the phrase "May the force be with you". It has quickly become an unofficial Holiday for all fans of the franchise. TBS and TNT Networks typically air the movies back to back in an all day marathon, TV series pay homage to it, and to add, this year Disney surprised fans with this announcement. The final episode, Star Wars: The Rise of Skywalker, will be released on Disney+ on the day itself so you can have your own binge on your own time. Great right?! Well....then this tweet happened.
This is what happens when the company lawyer gets access to the social media credentials.
To quickly summarize, no, Disney does not own the phrase or hashtag "May the 4th". You can still use it on Monday, May 4th and not worry about Disney's Storm Troopers to show up and throw you in detention block AA-23 on the Death Star.
What they MEANT was if you tag Disney+ on May 4th and use the #Maythe4th then Disney can use the tweet in something "special". Disney hasn't come out and said what that is yet.
Full article (and the comments people used) are listed thanks to ComicBook.com's tweet on April 27th when the story hit the internet.