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(i) (i)

THE WALT DISNEY COMPANY, commonly known as DISNEY, is an American diversified multinational mass media and entertainment conglomerate , headquartered at the Walt Disney
Walt Disney
Studios in Burbank , California. It is the world's second largest media conglomerate in terms of revenue, after Comcast
Comcast
. Disney was founded on October 16, 1923 – by brothers Walt Disney
Walt Disney
and Roy O. Disney – as the DISNEY BROTHERS CARTOON STUDIO, and established itself as a leader in the American animation industry before diversifying into live-action film production, television, and theme parks. The company also operated under the names THE WALT DISNEY STUDIO and then WALT DISNEY PRODUCTIONS. Taking on its current name in 1986, it expanded its existing operations and also started divisions focused upon the theater, radio, music, publishing and online media .

In addition, Disney has since created corporate divisions in order to market more mature content than is typically associated with its flagship family-oriented brands. The company is best known for the products of its film studio, Walt Disney
Walt Disney
Studios , which is today one of the largest and best-known studios in American cinema . Disney's other three main divisions are Walt Disney
Walt Disney
Parks and Resorts , Disney Media Networks, and Disney Consumer Products and Interactive Media . Disney also owns and operates the ABC broadcast television network; cable television networks such as Disney Channel
Disney Channel
, ESPN
ESPN
, A+E Networks , and Freeform ; publishing, merchandising , music, and theater divisions; and owns and licenses 14 theme parks around the world .

The company has been a component of the Dow Jones Industrial Average since May 6, 1991. Mickey Mouse
Mickey Mouse
, a cartoon created in 1928, is a primary symbol and mascot for Disney.

CONTENTS

* 1 Corporate history

* 1.1 1919–1928: Silent film era * 1.2 1928–1934: Mickey Mouse
Mickey Mouse
and Silly Symphonies * 1.3 1934–1945: Snow White and the Seven Dwarfs and World War II * 1.4 1946–1954: Post-war and television * 1.5 1955–1965: Disneyland
Disneyland
* 1.6 1966–1971: Deaths of Walt and Roy Disney and opening of Walt Disney World * 1.7 1972–1984: Theatrical malaise and new leadership * 1.8 1984–2005: Michael Eisner era and "Save Disney" campaign

* 1.9 2005–present: Bob Iger era

* 1.9.1 Merger with 21st Century Fox

* 2 Company units

* 2.1 Disney Media Networks * 2.2 Disney Parks and Resorts * 2.3 Disney Studio Entertainment * 2.4 Disney Consumer Products and Interactive Media

* 3 Executive management

* 3.1 Presidents * 3.2 Chief Executive Officers * 3.3 Chairmen * 3.4 Vice Chairmen * 3.5 Chief Operating Officers

* 4 Financial data

* 4.1 Revenues * 4.2 Net income
Net income

* 5 Criticism * 6 See also * 7 Footnotes

* 8 References

* 8.1 Chronology of The Walt Disney
Walt Disney
Company

* 9 Further reading * 10 External links

CORPORATE HISTORY

See also: Timeline of The Walt Disney
Walt Disney
Company The building in the Los Angeles
Los Angeles
neighborhood of Los Feliz which was home to the studio from 1923 to 1926

1919–1928: SILENT FILM ERA

In early 1923, Kansas City, Missouri
Kansas City, Missouri
, animator Walt Disney
Walt Disney
created a short film entitled Alice\'s Wonderland , which featured child actress Virginia Davis interacting with animated characters. After the bankruptcy in 1923 of his previous firm, Laugh-O-Gram Studio , Disney moved to Hollywood to join his brother, Roy O. Disney . Film distributor Margaret J. Winkler
Margaret J. Winkler
of M.J. Winkler Productions contacted Disney with plans to distribute a whole series of Alice Comedies purchased for $1,500 per reel with Disney as a production partner. Walt and Roy Disney formed DISNEY BROTHERS CARTOON STUDIO that same year. More animated films followed after Alice. In January 1926, with the completion of the Disney studio on Hyperion Street, the Disney Brothers Studio's name was changed to the WALT DISNEY STUDIO.

After the demise of the Alice comedies, Disney developed an all-cartoon series starring his first original character, Oswald the Lucky Rabbit , which was distributed by Winkler Pictures through Universal Pictures
Universal Pictures
. The distributor owned Oswald, so Disney only made a few hundred dollars. Disney completed 26 Oswald shorts before losing the contract in February 1928, due to a legal loophole, when Winkler's husband Charles Mintz took over their distribution company. After failing to take over the Disney Studio, Mintz hired away four of Disney's primary animators (the exception being Ub Iwerks
Ub Iwerks
) to start his own animation studio, Snappy Comedies.

1928–1934: MICKEY MOUSE AND SILLY SYMPHONIES

Original poster for Flowers and Trees (1932).

In 1928, to recover from the loss of Oswald the Lucky Rabbit, Disney came up with the idea of a mouse character named Mortimer while on a train headed to California, drawing up a few simple drawings. The mouse was later renamed Mickey Mouse
Mickey Mouse
(Disney's wife, Lillian, disliked the sound of 'Mortimer Mouse') and starred in several Disney produced films. Ub Iwerks
Ub Iwerks
refined Disney's initial design of Mickey Mouse. Disney's first sound film Steamboat Willie , a cartoon starring Mickey, was released on November 18, 1928 through Pat Powers ' distribution company. It was the first Mickey Mouse
Mickey Mouse
sound cartoon released, but the third to be created, behind Plane Crazy and The Gallopin\' Gaucho . Steamboat Willie was an immediate smash hit, and its initial success was attributed not just to Mickey's appeal as a character, but to the fact that it was the first cartoon to feature synchronized sound . Disney used Pat Powers' Cinephone system, created by Powers using Lee de Forest
Lee de Forest
's Phonofilm system. Steamboat Willie premiered at B. S. Moss's Colony Theater in New York City, now The Broadway Theatre . Disney's Plane Crazy and The Gallopin' Gaucho were then retrofitted with synchronized sound tracks and re-released successfully in 1929.

Disney continued to produce cartoons with Mickey Mouse
Mickey Mouse
and other characters, and began the Silly Symphony series with Columbia Pictures signing on as Symphonies distributor in August 1929. In September 1929, theater manager Harry Woodin requested permission to start a Mickey Mouse
Mickey Mouse
Club which Walt approved. In November, test comics strips were sent to King Features , who requested additional samples to show to the publisher, William Randolph Hearst
William Randolph Hearst
. On December 16, the Walt Disney
Walt Disney
Studios partnership was reorganized as a corporation with the name of WALT DISNEY PRODUCTIONS, LIMITED with a merchandising division, Walt Disney
Walt Disney
Enterprises, and two subsidiaries, Disney Film
Film
Recording Company, Limited and Liled Realty and Investment Company for real estate holdings. Walt and his wife held 60% (6,000 shares) and Roy owned 40% of WD Productions. On December 30, King Features signed its first newspaper, New York Mirror , to publish the Mickey Mouse
Mickey Mouse
comic strip with Walt's permission.

In 1932, Disney signed an exclusive contract with Technicolor (through the end of 1935) to produce cartoons in color, beginning with Flowers and Trees (1932). Disney released cartoons through Powers' Celebrity Pictures (1928–1930), Columbia Pictures
Columbia Pictures
(1930–1932), and United Artists
United Artists
(1932–1937). The popularity of the Mickey Mouse series allowed Disney to plan for his first feature-length animation. The feature film Walt Before Mickey , based on the book by Diane Disney Miller , featured these moments in the studio's history.

1934–1945: SNOW WHITE AND THE SEVEN DWARFS AND WORLD WAR II

Deciding to push the boundaries of animation even further, Disney began production of his first feature-length animated film in 1934. Taking three years to complete, Snow White and the Seven Dwarfs , premiered in December 1937 and by 1939 became highest-grossing film of that time. Snow White was released through RKO Radio
Radio
Pictures , which had assumed distribution of Disney's product in July 1937, after United Artists
United Artists
attempted to attain future television rights to the Disney shorts. Using the profits from Snow White, Disney financed the construction of a new 51-acre (210,000 m2) studio complex in Burbank , California. The new Walt Disney
Walt Disney
Studios , in which the company is headquartered to this day, was completed and open for business by the end of 1939. The following year on April 2, Walt Disney
Walt Disney
Productions had its initial public offering .

The studio continued releasing animated shorts and features, such as Pinocchio (1940), Fantasia (1940), Dumbo (1941), and Bambi
Bambi
(1942). After World War II began, box office profits declined. When the United States entered the war after the attack on Pearl Harbor , many of Disney's animators were drafted into the armed forces. The U.S. and Canadian governments commissioned the studio to produce training and propaganda films . By 1942, 90% of its 550 employees were working on war-related films. Films such as the feature Victory Through Air Power and the short Education for Death (both 1943) were meant to increase public support for the war effort. Even the studio's characters joined the effort, as Donald Duck
Donald Duck
appeared in a number of comical propaganda shorts, including the Academy Award-winning Der Fuehrer\'s Face (1943).

1946–1954: POST-WAR AND TELEVISION

The original Animation Building at the Walt Disney
Walt Disney
Studios.

With limited staff and little operating capital during and after the war, Disney's feature films during much of the 1940s were "package films", or collections of shorts, such as The Three Caballeros (1944) and Melody Time (1948), which performed poorly at the box office. At the same time, the studio began producing live-action films and documentaries. Song of the South (1946) and So Dear to My Heart (1948) featured animated segments, while the True-Life Adventures series, which included such films as Seal Island (1948) and The Vanishing Prairie (1954), were also popular. Eight of the films in the series won Academy Awards.

The release of Cinderella in 1950 proved that feature-length animation could still succeed in the marketplace. Other releases of the period included Alice in Wonderland (1951) and Peter Pan (1953), both in production before the war began, and Disney's first all-live action feature, Treasure Island (1950). Other early all-live-action Disney films included The Story of Robin Hood and His Merrie Men (1952), The Sword and the Rose (1953), and 20,000 Leagues Under the Sea (1954). Disney ended its distribution contract with RKO in 1953, forming its own distribution arm, Buena Vista Distribution .

In December 1950, Walt Disney
Walt Disney
Productions and the Coca-Cola Company teamed up for Disney's first venture into television, the NBC television network special An Hour in Wonderland. In October 1954, the ABC network launched Disney's first regular television series, Disneyland
Disneyland
, which would go on to become one of the longest-running primetime series in history. Disneyland
Disneyland
allowed Disney a platform to introduce new projects and broadcast older ones, and ABC became Disney's partner in the financing and development of Disney's next venture, located in the middle of an orange grove near Anaheim , California. It was the first phase of a long corporate relationship which, although no one could have anticipated it at the time, would culminate four decades later in the Disney company's acquisition of the ABC network, its owned and operated stations, and its numerous cable and publishing ventures.

1955–1965: DISNEYLAND

Walt Disney
Walt Disney
at the grand opening of Disneyland
Disneyland
, July 1955.

In 1954, Walt Disney
Walt Disney
used his Disneyland
Disneyland
series to unveil what would become Disneyland
Disneyland
, an idea conceived out of a desire for a place where parents and children could both have fun at the same time. On July 18, 1955, Walt Disney
Walt Disney
opened Disneyland
Disneyland
to the general public. On July 17, 1955, Disneyland
Disneyland
was previewed with a live television broadcast hosted by Art Linkletter and Ronald Reagan
Ronald Reagan
. After a shaky start, Disneyland
Disneyland
continued to grow and attract visitors from across the country and around the world. A major expansion in 1959 included the addition of America's first monorail system . For the 1964 New York World\'s Fair , Disney prepared four separate attractions for various sponsors, each of which would find its way to Disneyland
Disneyland
in one form or another. During this time, Walt Disney
Walt Disney
was also secretly scouting out new sites for a second Disney theme park. In November 1965, "Disney World" was announced, with plans for theme parks, hotels, and even a model city on thousands of acres of land purchased outside of Orlando , Florida.

Disney continued to focus its talents on television throughout the 1950s. Its weekday afternoon children's television program The Mickey Mouse Club , featuring its roster of young "Mouseketeers", premiered in 1955 to great success, as did the Davy Crockett miniseries , starring Fess Parker and broadcast on the Disneyland
Disneyland
anthology show. Two years later, the Zorro series would prove just as popular, running for two seasons on ABC. Despite such success, Walt Disney
Walt Disney
Productions invested little into television ventures in the 1960s, with the exception of the long-running anthology series, later known as The Wonderful World of Disney.

Disney's film studios stayed busy as well. Averaging five or six releases per year during this period. While the production of shorts slowed significantly during the 1950s and 1960s, the studio released a number of popular animated features, like Lady and the Tramp (1955), Sleeping Beauty (1959) and One Hundred and One Dalmatians (1961), which introduced a new xerography process to transfer the drawings to animation cels . Disney's live-action releases were spread across a number of genres, including historical fiction (Johnny Tremain , 1957), adaptations of children's books (Pollyanna , 1960) and modern-day comedies (The Shaggy Dog , 1959). Disney's most successful film of the 1960s was a live action/animated musical adaptation of Mary Poppins , which was one of the all-time highest-grossing movies and received five Academy Awards , including Best Actress for Julie Andrews and Best Song for Robert B. Sherman both films were released to minimal success.

Disney also hired outside producers for film projects, which had never been done before in the studio's history. In 1979, Disney entered a joint venture with Paramount Pictures
Paramount Pictures
on the production of the 1980 film adaptation of Popeye and Dragonslayer (1981); the first time Disney collaborated with another studio. Paramount distributed Disney films in Canada at the time, and it was hoped that Disney's marketing prestige would help sell the two films. Finally, in 1982, the Disney family sold the naming rights and rail-based attractions to the Disney film studio for 818,461 shares of Disney stock then worth $42.6 million none of which went to Retlaw . Also, Roy E. Disney objected to the overvalued purchase price of the naming right and voted against the purchase as a Disney board director.

The 1983 release of Mickey\'s Christmas Carol began a string of successful movies, starting with Never Cry Wolf and the Ray Bradbury adaptation Something Wicked This Way Comes . The Walt Disney Productions film division was incorporated on 000000001983-04-01-0000April 1, 1983 as Walt Disney
Walt Disney
Pictures . In 1984, Disney CEO Ron Miller created Touchstone Films as a brand for Disney to release more major motion pictures. Touchstone's first release was the comedy Splash (1984), which was a box office success. With The Wonderful World of Disney remaining a prime-time staple, Disney returned to television in the 1970s with syndicated programming such as the anthology series The Mouse Factory and a brief revival of the Mickey Mouse
Mickey Mouse
Club. In 1980, Disney launched Walt Disney
Walt Disney
Home Video to take advantage of the newly emerging videocassette market. On April 18, 1983, The Disney Channel
Disney Channel
debuted as a subscription-level channel on cable systems nationwide, featuring its large library of classic films and TV series, along with original programming and family-friendly third-party offerings.

Walt Disney
Walt Disney
World received much of the company's attention through the 1970s and into the 1980s. In 1978, Disney executives announced plans for the second Walt Disney
Walt Disney
World theme park, EPCOT Center , which would open in October 1982. Inspired by Walt Disney's dream of a futuristic model city, EPCOT Center was built as a "permanent World's Fair", complete with exhibits sponsored by major American corporations, as well as pavilions based on the cultures of other nations. In Japan, The Oriental Land Company partnered with Walt Disney Productions to build the first Disney theme park outside of the United States, Tokyo Disneyland
Disneyland
, which opened in April 1983. Despite the success of the Disney Channel
Disney Channel
and its new theme park creations, Walt Disney
Walt Disney
Productions was financially vulnerable. Its film library was valuable, but offered few current successes, and its leadership team was unable to keep up with other studios, particularly the works of Don Bluth , who defected from Disney in 1979. By the early 1980s, the parks were generating 70% of Disney's income.

In 1984, financier Saul Steinberg 's Reliance Group Holdings launched a hostile takeover bid for Walt Disney
Walt Disney
Productions, with the intent of selling off some of its operations. Disney bought out Reliance's 11.1% stake in the company. However, another shareholder filed suit claiming the deal devaluated Disney's stock and for Disney management to retain their positions. The shareholder lawsuit was settled in 1989 for a total of $45 million from Disney and Reliance.

1984–2005: MICHAEL EISNER ERA AND "SAVE DISNEY" CAMPAIGN

See also: Timeline of The Walt Disney
Walt Disney
Company § 1984–2004

With the Sid Bass family purchase of 18.7 percent of Disney, Bass and the board brought in Michael Eisner from Paramount as CEO and Frank Wells from Warner Bros.
Warner Bros.
as president. Eisner emphasized Touchstone with Down and Out in Beverly Hills (1985) to start leading to increased output with Good Morning, Vietnam
Good Morning, Vietnam
(1987), Dead Poets Society (1989), Pretty Woman (1990) and additional hits. Eisner used expanding cable and home video markets to sign deals using Disney shows and films with a long-term deal with Showtime Networks for Disney/Touchstone releases through 1996 and entering television with syndication and distribution for TV series as The Golden Girls and Home Improvement . Disney began limited releases of its previous films on video tapes in the late 1980s. Eisner's Disney purchased KHJ , an independent Los Angeles
Los Angeles
TV station. Organized in 1985, Silver Screen Partners II, LP financed films for Disney with $193 million. In January 1987, Silver Screen III began financing movies for Disney with $300 million raised, the largest amount raised for a film financing limited partnership by E.F. Hutton. Silver Screen IV was also set up to finance Disney's studios.

Beginning with Who Framed Roger Rabbit in 1988, Disney's flagship animation studio enjoyed a series of commercial and critical successes with such films as The Little Mermaid (1989), Beauty and the Beast (1991), Aladdin (1992) and The Lion King (1994). In addition, the company successfully entered the field of television animation with a number of lavishly budgeted and acclaimed series such as Adventures of the Gummi Bears , DuckTales , Chip \'n Dale: Rescue Rangers , Darkwing Duck and Gargoyles . Disney moved to first place in box office receipts by 1988 and had increased revenues by 20% every year.

In 1989, Disney signed an agreement-in-principle to acquire Jim Henson Productions from its founder, Muppet creator Jim Henson . The deal included Henson's programming library and Muppet characters (excluding the Muppets created for Sesame Street
Sesame Street
), as well as Jim Henson's personal creative services. However, Henson died suddenly in May 1990 before the deal was completed, resulting in the two companies terminating merger negotiations the following December. Named the "Disney Decade" by the company, the executive talent attempted to move the company to new heights in the 1990s with huge changes and accomplishments. In September 1990, Disney arranged for financing up to $200 million by a unit of Nomura Securities for Interscope films made for Disney. On October 23, Disney formed Touchwood Pacific Partners I which would supplant the Silver Screen Partnership series as their movie studios' primary source of funding.

In 1991, hotels, home video distribution, and Disney merchandising became 28 percent of total company revenues with international revenues contributed 22 percent of revenues. The company committed its studios in the first quarter of 1991 to produce 25 films in 1992. However, 1991 saw net income drop by 23 percent and had no growth for the year, but saw the release of Beauty and the Beast, winner of two Academy Awards and top-grossing film in the genre. Disney next moved into publishing with Hyperion Books and adult music with Hollywood Records while Walt Disney
Walt Disney
Imagineering was laying off 400 employees. Disney also broadened its adult offerings in film when then-Disney Studio Chairman
Chairman
Jeffrey Katzenberg
Jeffrey Katzenberg
acquired Miramax Films in 1993. That same year Disney created the NHL team the Mighty Ducks of Anaheim , named after the 1992 hit film of the same name . Disney purchased a minority stake in the Anaheim Angels baseball team around the same time.

Wells was killed in a helicopter crash in 1994. Shortly thereafter, Katzenberg resigned and formed DreamWorks
DreamWorks
SKG because Eisner would not appoint Katzenberg to Wells' now-available post (Katzenberg had also sued over the terms of his contract). Instead, Eisner recruited his friend Michael Ovitz , one of the founders of the Creative Artists Agency , to be President, with minimal involvement from Disney's board of directors (which at the time included Oscar-winning actor Sidney Poitier , Hilton Hotels Corporation CEO Stephen Bollenbach , former U.S. Senator George Mitchell , Yale dean Robert A. M. Stern , and Eisner's predecessors Raymond Watson and Card Walker ). Ovitz lasted only 14 months and left Disney in December 1996 via a "no fault termination" with a severance package of $38 million in cash and 3 million stock options worth roughly $100 million at the time of Ovitz's departure. The Ovitz episode engendered a long running derivative suit , which finally concluded in June 2006, almost 10 years later. Chancellor William B. Chandler, III of the Delaware Court of Chancery , despite describing Eisner's behavior as falling "far short of what shareholders expect and demand from those entrusted with a fiduciary position..." found in favor of Eisner and the rest of the Disney board because they had not violated the letter of the law (namely, the duty of care owed by a corporation's officers and board to its shareholders). Eisner later said, in a 2016 interview with The Hollywood Reporter , that he regretted letting Ovitz go. A view of downtown Celebration, Florida , a community that was planned by the Walt Disney
Walt Disney
Company.

In 1994, Eisner attempted to purchase NBC
NBC
from General Electric
General Electric
(GE), but the deal failed due to GE wanting to keep 51 percent ownership of the network. Disney acquired many other media sources during the decade, including a merger with Capital Cities/ABC in 1995 which brought broadcast network ABC and its assets, including the A"> Team Disney Burbank, which houses the offices of Disney's CEO and several other senior corporate officials.

On July 8, 2005, Walt Disney's nephew, Roy E. Disney , returned to the company as a consultant and as non-voting director emeritus. Walt Disney Parks and Resorts celebrated the 50th anniversary of Disneyland Park on July 17 and opened Hong Kong Disneyland
Disneyland
on September 12. Walt Disney Feature Animation released Chicken Little , the company's first film using 3D animation. On October 1, Iger replaced Eisner as CEO. Miramax co-founders Bob Weinstein and Harvey Weinstein also departed the company to form their own studio . On July 25, 2005, Disney announced that it was closing DisneyToon Studios
DisneyToon Studios
Australia in October 2006 after 17 years of existence.

On January 23, 2006, it was announced that Disney would purchase Pixar
Pixar
in an all-stock transaction valued at $7.4 billion. The deal was finalized on May 5; Steve Jobs
Steve Jobs
, who was Pixar's CEO and held a 50.1% ownership stake in the company, transitioned to Disney's board of directors as its largest individual shareholder, with a 7% stake. Ed Catmull took over as President of Pixar
Pixar
Animation Studios. Former Executive Vice-President of Pixar, John Lasseter
John Lasseter
, became Chief Creative Officer of Walt Disney
Walt Disney
Animation Studios , its division DisneyToon Studios
DisneyToon Studios
, and Pixar
Pixar
Animation Studios, as well as assuming the role of Principal Creative Advisor at Walt Disney
Walt Disney
Imagineering .

In February 2006, Disney acquired the rights to Oswald the Lucky Rabbit from NBC
NBC
Universal (including the character's intellectual property and the 26 Oswald cartoons produced by Walt Disney) from NBC Universal as part of an exchange of minor assets. In return, Disney released sportscaster Al Michaels from his contracts with ABC Sports and ESPN, so he could join NBC
NBC
Sports and his long-time partner John Madden for NBC's new NFL Sunday Night Football . In April 2007, the Muppets Holding Company was moved from Disney Consumer Products to the Walt Disney
Walt Disney
Studios division and renamed The Muppets Studio , as part of efforts to re-launch the division, On August 31, 2009, Disney announced a deal to acquire Marvel Entertainment for $4.24 billion, in a deal completed on December 31, 2009.

Director Emeritus Roy E. Disney died of stomach cancer on December 16, 2009. At the time of his death, he owned roughly 1 percent of all of Disney which amounted to 16 million shares. He was the last member of the Disney family to be actively involved in the company. In October 2009, Disney Channel
Disney Channel
president Rich Ross , hired by Iger, replaced Dick Cook as chairman of the company and, in November, began restructuring the company to focus more on family friendly products. Later in January 2010, Disney decided to shut down Miramax after downsizing Touchstone, but one month later, they instead began selling the Miramax brand and its 700-title film library to Filmyard Holdings . In March, ImageMovers Digital , which Disney had established as a joint venture studio with Robert Zemeckis in 2007, was shut down. In April 2010, Lyric Street , Disney's country music label in Nashville, was shut down. The following month, Haim Saban reacquired the Power Rangers franchise, including its 700-episode library. In September 2012, Saban reacquired the Digimon franchise, which, like Power Rangers, was part of the Fox Kids library that Disney acquired in 2001. In January 2011, Disney Interactive Studios was downsized.

In April 2011, Disney broke ground on Shanghai Disney Resort . Costing $4.4 billion, the resort opened on June 16, 2016. Later, in August 2011, Bob Iger stated on a conference call that after the success of the Pixar
Pixar
and Marvel purchases, he and the Walt Disney Company are looking to "buy either new characters or businesses that are capable of creating great characters and great stories." Later, in early February 2012, Disney completed its acquisition of UTV Software Communications , expanding their market further into India and Asia. On October 30, 2012, Disney announced plans to acquire Lucasfilm in a deal valued at $4.05 billion. Disney announced an intent to leverage the Star Wars
Star Wars
franchise across its divisions, and plans to produce a seventh installment in the main film franchise for release in 2015. The sale was completed on December 21, 2012. On March 24, 2014, Disney acquired Maker Studios , an active multi-channel network on YouTube
YouTube
, for $500 million. The company was later turned into a new venture called Disney Digital Network in May 2017.

On February 5, 2015, it was announced that Tom Staggs had been promoted to COO . On April 4, 2016, Disney announced that Staggs and the company had mutually agreed to part ways, effective May 2016, ending his 26-year career with the company. In August 2016, Disney acquired a 33% stake in BAMTech
BAMTech
, a streaming media provider spun out from Major League Baseball
Major League Baseball
's media division . The company announced plans to eventually use its infrastructure for an ESPN
ESPN
over-the-top service. On March 23, 2017, Disney announced that Iger had agreed to a one-year extension of his term as CEO through July 2, 2019, and had agreed to remain with the company as a consultant for three years after stepping down. In August 2017, Disney announced that it had exercised an option to increase its stake in BAMTech
BAMTech
to 75%, and would launch a subscription video-on-demand service featuring its entertainment content in 2019, which will replace Netflix
Netflix
as the subscription VOD rightsholder of all Disney theatrical film releases.

Merger With 21st Century Fox

It has been suggested that this article be merged with Proposed acquisition of 21st Century Fox by Disney . (Discuss ) Proposed since February 2018.

Main article: Proposed acquisition of 21st Century Fox by Disney

On November 6, 2017, it was reported by C NBC
NBC
that Disney had been in negotiations with 21st Century Fox in a deal in which both companies would merge. These negotiations between had reportedly resumed and at a rapid pace regarding Fox's key assets. Rumors of a nearing deal continued on December 5, 2017, with additional reports suggesting that the FSN regional sports networks would be included in the resulting new company (assets that would likely be aligned with Disney's ESPN division).

On December 14, 2017, The Walt Disney
Walt Disney
Company and 21st Century Fox announced their $52 billion deal to merge. The merger largely includes Fox's entertainment assets, including filmed entertainment, cable entertainment, and direct broadcast satellite divisions in the UK, Europe and Asia, but excludes divisions such as the Fox Broadcasting
Broadcasting
Company , Fox Television Stations , the Fox News Channel , the Fox Business Network , and Fox Sports , all of which will be spun off into an independent company.

However, the deal must still be approved by the United States Department of Justice Antitrust Division , which had already threatened to block a merger between AT&T
AT&T
and Time Warner early in the year (see Time Warner\'s proposed acquisition by AT&T
AT&T
and AT PARKS AND RESORTS, featuring the company's theme parks, cruise line , and other travel-related assets; MEDIA NETWORKS, which includes the company's television properties; and DISNEY CONSUMER PRODUCTS AND INTERACTIVE MEDIA, which produces toys, clothing, and other merchandising based upon Disney-owned properties, as well as including Disney's Internet, mobile, social media, virtual worlds, and computer games operations. Three segments are led by chairmen, but Disney Consumer Products and Interactive Media are currently both led by a president. Marvel Entertainment is also a direct CEO reporting business, while its financial results are primarily divided between the Studio Entertainment and Consumer Products segments. While Disney Digital Network is split between Studio Entertainment and Media Networks segments.

The company's main entertainment holdings include Walt Disney
Walt Disney
Studios , Disney Music
Music
Group , Disney Theatrical Group , Disney-ABC Television Group , Radio
Radio
Disney , ESPN
ESPN
Inc. , Disney Interactive , Disney Consumer Products , Disney India Ltd. , The Muppets Studio , Pixar Animation Studios , Marvel Entertainment , Marvel Studios , UTV Software Communications , Lucasfilm , and Disney Digital Network . The company's resorts and diversified related holdings include Walt Disney Parks and Resorts , Disneyland
Disneyland
Resort , Walt Disney
Walt Disney
World Resort , Tokyo Disney Resort , Disneyland
Disneyland
Paris , Euro Disney S.C.A. , Hong Kong Disneyland
Disneyland
Resort , Shanghai Disney Resort , Disney Vacation Club , Disney Cruise Line
Disney Cruise Line
, and Adventures by Disney.

DISNEY MEDIA NETWORKS

DISNEY MEDIA NETWORKS is a business segment and primary unit of The Walt Disney
Walt Disney
Company that contains the company's various television networks, cable channels, associated production and distribution companies and owned and operated television stations. Media Networks also manages Disney's interest in its joint venture with Hearst Communications for A+E Networks , and ESPN
ESPN
Inc . It is the only division with two leaders or "co-chairs": the presidents of ESPN
ESPN
and Disney-ABC Television Group.

DISNEY PARKS AND RESORTS

Disney Parks and Resorts division contains ownership and management of all of Disneys parks and resorts.

DISNEY STUDIO ENTERTAINMENT

Disney Studio Entertainment division contains ownership and management of all of Walt Disney
Walt Disney
Studios , Walt Disney
Walt Disney
Animation Studios , Pixar
Pixar
, Disney Music
Music
Group , Disney Theatrical Group , Disneytoon Studios
Disneytoon Studios
, Marvel Studios , Disney Nature and Lucasfilm .

DISNEY CONSUMER PRODUCTS AND INTERACTIVE MEDIA

Disney Consumer Products and Interactive Media controls Disney Publishing
Publishing
Worldwide , Disney Store and Disney Digital Network .

EXECUTIVE MANAGEMENT

Further information: List of management of The Walt Disney
Walt Disney
Company

PRESIDENTS

* Walt Disney
Walt Disney
(1923–1945) * Roy O. Disney (1945–1966) * Donn Tatum (1966–71) * Card Walker (1971–77) * Ron W. Miller (1978–83) * Frank Wells (1984–94) * Michael Ovitz (1995–97) * Robert A. Iger (2000–12)

CHIEF EXECUTIVE OFFICERS

* Roy O. Disney (1929–71) * Donn Tatum (1971–76) * Card Walker (1976–83) * Ron W. Miller (1983–84) * Michael Eisner (1984–2005) * Robert A. Iger (2005–present)

CHAIRMEN

Walt Disney
Walt Disney
dropped his Chairman
Chairman
title in 1960 to focus more on the creative aspects of the company, becoming the "executive producer in charge of all production."

After a four-year vacancy, Roy O. Disney assumed the Chairmanship.

* Walt Disney
Walt Disney
(1945–60) * Roy O. Disney (1964–71) * Donn Tatum (1971–80) * Card Walker (1980–83) * Raymond Watson (1983–84) * Michael Eisner (1984–2004) * George J. Mitchell (2004–06) * John E. Pepper Jr. (2007–12) * Robert A. Iger (2012–present)

VICE CHAIRMEN

* Roy E. Disney (1984–2003) * Sanford Litvack (1999–2000) Co-Vice Chair

CHIEF OPERATING OFFICERS

* Frank Wells (1984–94) (Concurrently President) * Sanford Litvack (1997–99) Chief of Operations * Robert A. Iger (2000–2005) * Tom Staggs (2015 –16 )

FINANCIAL DATA

REVENUES

Annual gross revenues of The Walt Disney
Walt Disney
Company (in millions USD) YEAR STUDIO ENTERTAINMENT DISNEY CONSUMER PRODUCTS DISNEY INTERACTIVE Walt Disney Parks and Resorts DISNEY MEDIA NETWORKS TOTAL

1991 2,593.0 724

2,794.0

6,111

1992 3,115 1,081

3,306

7,502

1993 3,673.4 1,415.1

3,440.7

8,529

1994 4,793 1,798.2

3,463.6 359 10,414

1995 6,001.5 2,150

3,959.8 414 12,525

1996 10,095

4,502 4,142 18,739

1997 6,981 3,782 174 5,014 6,522 22,473

1998 6,849 3,193 260 5,532 7,142 22,976

1999 6,548 3,030 206 6,106 7,512 23,402

2000 5,994 2,602 368 6,803 9,615 25,402

2001 7,004 2,590

6,009 9,569 25,790

2002 6,465 2,440

6,691 9,733 25,360

2003 7,364 2,344

6,412 10,941 27,061

2004 8,713 2,511

7,750 11,778 30,752

2005 7,587 2,127

9,023 13,207 31,944

2006 7,529 2,193

9,925 14,368 34,285

2007 7,491 2,347

10,626 15,046 35,510

2008 7,348 2,415 719 11,504 15,857 37,843

2009 6,136 2,425 712 10,667 16,209 36,149

2010 6,701 2,678 761 10,761 17,162 38,063

2011 6,351 3,049 982 11,797 18,714 40,893

2012 5,825 3,252 845 12,920 19,436 42,278

2013 5,979 3,555 1,064 14,087 20,356 45,041

2014 7,278 3,985 1,299 15,099 21,152 48,813

2015 7,366 4,499 1,174 16,162 23,264 52,465

2016 9,441 5,528 16,974 23,689 55,632

2017 8,379 4,833 18,415 23,510 55,137

* ^ Disney Interactive Media Group , starting in 2008 with the merge of WDIG and Disney Interactive Studios * ^ Following the purchase of ABC

NET INCOME

Net income
Net income
of The Walt Disney
Walt Disney
Company (in millions USD) YEAR STUDIO ENTERTAINMENT DISNEY CONSUMER PRODUCTS DISNEY INTERACTIVE / DISNEY INTERACTIVE MEDIA GROUP Walt Disney Parks and Resorts DISNEY MEDIA NETWORKS TOTAL

1991 318 229

546

1,094

1992 508 283

644

1,435

1993 622 355

746

1,724

1994 779 425

684 77 1,965

1995 998 510

860 76 2,445

1996 1,596 −300 990 747 3,033

1997 1,079 893 −56 1,136 1,699 4,312

1998 769 801 −94 1,288 1,746 3,231

1999 116 607 −93 1,446 1,611 3,231

2000 110 455 −402 1,620 2,298 4,081

2001 260 401

1,586 1,758 4,214

2002 273 394

1,169 986 2,826

2003 620 384

957 1,213 3,174

2004 662 534

1,123 2 169 4,488

2005 207 543

1,178 3,209 5,137

2006 729 618

1,534 3,610 6,491

2007 1,201 631

1,710 4,285 7,827

2008 1,086 778 −258 1,897 4,942 8,445

2009 175 609 −295 1,418 4,765 6,672

2010 693 677 −234 1,318 5,132 7,586

2011 618 816 −308 1,553 6,146 8,825

2012 722 937 −216 1,902 6,619 9,964

2013 661 1,112 −87 2,220 6,818 10,724

2014 1,549 1,356 116 2,663 7,321 13,005

2015 1,973 1,752 132 3,031 7,793 14,681

2016 2,703 1,965 3,298 7,755 15,721

2017 2,355 1,744 3,774 6,902 14,775

* ^ A B Also named Films * ^ A B C D Merged into Creative Content in 1996 * ^ A B Walt Disney
Walt Disney
Internet Group , from 1997 to 2000, next merged with Disney Media Networks * ^ A B Broadcasting
Broadcasting
from 1994 to 1996 * ^ Disney Interactive Media Group , merge of WDIG and Disney Interactive Studios * ^ Not linked to WDIG, Disney reported a $300M loss due to financial modification regarding real estate

CRITICISM

For more details on this topic, see Criticism of The Walt Disney Company .

Some of Disney's animated family films have drawn fire for being accused of having sexual references hidden in them, among them The Little Mermaid (1989), Aladdin (1992), and The Lion King (1994). Instances of sexual material hidden in some versions of The Rescuers (1977) and Who Framed Roger Rabbit (1988) resulted in recalls and modifications of the films to remove such content.

Some religious welfare groups, such as the Catholic League , have opposed films including Priest (1994) and Dogma (1999). A book called Growing Up Gay, published by Disney-owned Hyperion and similar publications, as well as the company's extension of benefits to same-sex domestic partners , spurred boycotts of Disney and its advertisers by the Catholic League, the Assemblies of God USA
Assemblies of God USA
, the American Family Association , and other conservative groups. The boycotts were discontinued by most of these organizations by 2005. In addition to these social controversies, the company has been accused of human rights violations regarding the working conditions in factories that produce their merchandise.

Disney has been criticized for its influence over children in that it endeavours to appeal to children at a young age and develop their views and interests according to Disney's portrayal of major themes as well as prepare children to become early consumers of their brand.

SEE ALSO

* Disney portal * Animation portal * Film
Film
portal * Los Angeles
Los Angeles
portal * Companies portal * United States portal

* Walt Disney
Walt Disney
and Roy Disney * List of assets owned by Disney * List of Walt Disney
Walt Disney
Pictures films * Lists of films released by Disney * Disney University * Disneyfication * Buena Vista * Mandeville-Anthony v. The Walt Disney
Walt Disney
Company , a federal court case in which Mandeville claimed Disney infringed on his copyrighted ideas by creating Cars * List of conglomerates * List of United States companies * Pixar
Pixar
* Maker Studios * Consider the Source

FOOTNOTES

* ^ Although Disney released a PG-rated film, Take Down , prior to the release of The Black Hole, they did not make the film; it was a pickup from independent producers.

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CHRONOLOGY OF THE WALT DISNEY COMPANY

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FURTHER READING

* Disney Stories: Getting to Digital, Newton Lee and Krystina Madej (New York: Springer Science+Business Media, 2012), ISBN 978-1-4614-2100-9 . * A View Inside Disney, Tayler Hughes, 2014 Slumped * The Animated Man: A Life of Walt Disney, Michael Barrier, 2007 * Building a Company: Roy O. Disney and the Creation of an Entertainment Empire, Bob Thomas, 1998 * Building a Dream; The Art of Disney Architecture, Beth Dunlop, 1996, ISBN 0-8109-3142-7 * Cult of the Mouse: Can We Stop Corporate Greed from Killing Innovation in America?, Henry M. Caroselli, 2004, Ten Speed Press * Disney: The Mouse Betrayed, Peter Schweizer * The Disney Touch: How a Daring Management Team Revived an Entertainment Empire, by Ron Grover (Richard D. Irwin, Inc., 1991), ISBN 1-55623-385-X * The Disney Version: The Life, Times, Art and Commerce of Walt Disney, Richard Schickel, 1968, revised 1997 * Disneyana: Walt Disney
Walt Disney
Collectibles, Cecil Munsey, 1974 * Disneyization of Society: Alan Bryman , 2004 * DisneyWar , James B. Stewart , Simon the Walt Disney
Walt Disney
Studio During World War II, Richard Shale, 1982 * How to Read Donald Duck
Donald Duck
: Imperialist Ideology in the Disney Comic ISBN 0-88477-023-0 (Marxist Critique) Ariel Dorfman , Armand Mattelart , David Kunzle (translator). * Inside the Dream: The Personal Story of Walt Disney, Katherine Greene the Story of Walt Disney, Katherine & Richard Greene, 1991, revised 1998, ISBN 0-7868-5350-6 * Married to the Mouse, Richard E. Foglesorg, Yale University Press * Mouse Tales: A Behind-the-Ears Look at Disneyland, David Koenig, 1994, revised 2005, ISBN 0-9640605-4-X * Mouse Tracks: The Story of Walt Disney
Walt Disney
Records, Tim Hollis and Greg Ehrbar, 2006, ISBN 1-57806-849-5 * Storming the Magic Kingdom: Wall Street, the raiders, and the battle for Disney, John Taylor, 1987 New York Times * The Story of Walt Disney, Diane Disney Miller ">DISNEY

Wikivoyage has a travel guide for DISNEY TOURISM .

* Corporate website * Disney.com * The Walt Disney
Walt Disney
Company companies grouped at OpenCorporates

*

* Business data for Walt Disney: Google Finance * Yahoo! Finance * Reuters * SEC filings

* v * t * e

The Walt Disney
Walt Disney
Company

* Company timeline * Retlaw Enterprises * Criticism

Company officials

FOUNDERS

* Walter Elias Disney * Roy Oliver Disney

EXECUTIVES

* Bob Iger (CEO) * Alan N. Braverman (SEVP /GC ) * Christine McCarthy ( CFO )

BOARD OF DIRECTORS

* Susan Arnold * John S. Chen * Jack Dorsey
Jack Dorsey
* Bob Iger (Chairman) * Fred Langhammer * Aylwin Lewis
Aylwin Lewis
* Monica C. Lozano * Robert Matschullat * Mark Parker * Sheryl Sandberg * Orin C. Smith (Independent Lead)

WALT DISNEY STUDIOS

* Walt Disney
Walt Disney
Animation Studios * Walt Disney
Walt Disney
Pictures

* Distribution

* Touchstone Pictures

* Disney Music
Music
Group * Disney Theatrical Group * Disneynature * Home Entertainment * Lucasfilm * Marvel Studios * Pixar
Pixar

MEDIA NETWORKS

* Disney–ABC TV Group

* ABC Entertainment Group * ABC TV Stations * Disney Channel
Disney Channel
* Hulu
Hulu

* ESPN
ESPN
(80%) * Aborder-left-width:2px;border-left-style:solid;width:100%;padding:0px">

* Adventures by Disney * Disney Cruise Line
Disney Cruise Line
* Walt Disney
Walt Disney
Imagineering * Disneyland
Disneyland
Resort * Disney Regional Entertainment * Disney Vacation Club * Disneyland
Disneyland
Paris * Walt Disney
Walt Disney
World Resort * Hong Kong Disneyland
Disneyland
Resort * Shanghai Disney Resort

DCPI

* Licensing * Disney Store

* Disney Publishing
Publishing
Worldwide

* Disney English

* Disney Digital Network

* Babble * Disney Online * Maker Studios

* Games and Interactive Experiences

* Disney Mobile * The Muppets Studio

INTERNATIONAL

* Argentina * CIS * France

* India

* UTV Software Communications

* Italy * Latin America

OTHER ASSETS

* Buena Vista * Marvel Entertainment * Reedy Creek Energy

See also: Acquisition of 21st Century Fox (pending)

* v * t * e

Components of the Dow Jones Industrial Average
Dow Jones Industrial Average

* 3M * American Express * Apple * Boeing
Boeing
* Caterpillar * Chevron * Cisco Systems * Coca-Cola * Disney * DowDuPont * ExxonMobil * General Electric
General Electric
* Goldman Sachs
Goldman Sachs
* The Home Depot * Intel
Intel
* IBM
IBM
* Johnson & Johnson * JPMorgan Chase
JPMorgan Chase
* McDonald\'s * Merck & Co. * Microsoft
Microsoft
* Nike * Pfizer
Pfizer
* Procter border-left-width:2px;border-left-style:solid;width:100%;padding:0px">

* WorldCat Identities * VIAF : 121982546 * LCCN : n86012698 * ISNI : 0000 0001 2149 6525 * GND : 4196621-1 * SUDOC : 029504724 * BNF : cb11868138t (data) * MusicBrainz
MusicBrainz
: 66ea0139-149f-4a0c-8fbf-5ea9ec4a6e49 * NDL

.