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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
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 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 theatre 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 , an early and well-known cartoon creation of the company, is a primary symbol and mascot for Disney.

CONTENTS

* 1 Corporate history

* 1.1 1919–1928: The silent era * 1.2 1928–1934: 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: The deaths of Walt and Roy Disney and the opening of Walt Disney
Walt Disney
World * 1.7 1972–1984: Theatrical malaise and new leadership * 1.8 1984–2005: The Michael Eisner
Michael Eisner
Era and the "Save Disney" Campaign * 1.9 2005–present: The Bob Iger era

* 2 Company divisions and subsidiaries

* 2.1 Disney Media Networks

* 3 Executive management

* 3.1 Presidents * 3.2 Chief Executive Officers * 3.3 Chairmen of the Board * 3.4 Vice Chairman of the Board * 3.5 Chief Operating Officers

* 4 Financial data

* 4.1 Revenues * 4.2 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: THE SILENT 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 Studios , Disney moved to Hollywood to join his brother, Roy O. Disney . Film distributor Margaret J. Winkler of M.J. Winkler Productions contacted Disney with plans to distribute a whole series of _ Alice Comedies
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 ) 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 (Disney's wife, Lillian, disliked the sound of 'Mortimer Mouse') and starred in several Disney produced films. 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 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 '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 Galloping Gaucho _ were then retrofitted with synchronized sound tracks and re-released successfully in 1929.

Disney continued to produce cartoons with Mickey Mouse and other characters, and began the Silly Symphonies 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 Club which Walt approved. In November, test comics strips were sent to King Features
King Features
, who requested additional samples to show to the publisher, 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 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 (1930–1932), and 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 became highest-grossing film of that time by 1939. _Snow White_ was released through RKO Radio
Radio
Pictures , which had assumed distribution of Disney's product in July 1937, after 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
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 PRODUCTIONS had its initial public offering .

The studio continued releasing animated shorts and features, such as _Pinocchio _ (1940), _Fantasia _ (1940), _ Dumbo
Dumbo
_ (1941), and _ Bambi _ (1942). After World War II began, box-office profits declined. When the United States
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 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_ 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
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_ 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_ anthology show. Two years later, the _Zorro _ series would prove just as popular, running for two seasons on ABC. Despite such success, 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
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 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: THE MICHAEL EISNER ERA AND THE "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
Michael Eisner
from Paramount as CEO and Frank Wells from 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 _ (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
Adventures of the Gummi Bears
_, _ Duck Tales _, _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
Muppet
creator Jim Henson . The deal included Henson's programming library and Muppet
Muppet
characters (excluding the Muppets created for _ 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 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 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 , the CEO of Hilton Hotels Corporation Stephen Bollenbach , former U.S. Senator George Mitchell , Yale dean Robert A. M. Stern
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 revealed in 2016 interview with _ The Hollywood Reporter _ that he regretted letting Ovitz go.

Eisner attempted in 1994 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 margin-right:auto; overflow:hidden; width:auto; max-width:1008px;"> A view of downtown Celebration, Florida : the community was planned by The Walt Disney
Walt Disney
Company.

2005–PRESENT: THE BOB IGER ERA

_ This section READS LIKE A PRESS RELEASE OR A NEWS ARTICLE and/or IS ENTIRELY BASED ON ROUTINE COVERAGE . Please expand this article with properly sourced content to meet's quality standards , event notability guideline , and/or encyclopedic content policy . (June 2016)_

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 Australia in October 2006 after 17 years of existence.

In 2006, Disney acquired Oswald the Lucky Rabbit , Disney’s pre-Mickey silent animation star. Aware that Disney's relationship with Pixar was wearing thin, Iger began negotiations with leadership of Pixar Animation Studios
Pixar Animation Studios
, Steve Jobs
Steve Jobs
and Ed Catmull , regarding possible merger. On January 23, 2006, it was announced that Disney would purchase Pixar in an all-stock transaction worth $7.4 billion. The deal was finalized on May 5; and among noteworthy results was the transition of Pixar's CEO and 50.1% shareholder, Steve Jobs
Steve Jobs
, becoming Disney's largest individual shareholder at 7% and a member of Disney's Board of Directors. Ed Catmull took over as President of Pixar Animation Studios. Former Executive Vice-President of Pixar, John Lasseter , became Chief Creative Officer of Walt Disney
Walt Disney
Animation Studios , its division DisneyToon Studios , and Pixar Animation Studios, as well assuming the role of Principal Creative Advisor at Walt Disney
Walt Disney
Imagineering .

In April 2007, the Muppets Holding Company, LLC was renamed the Muppets Studio and placed under new leadership in an effort by Iger to re-brand the division. The rebranding was completed in September 2008, when control of the Muppets Studio was transferred from Disney Consumer Products to the Walt Disney
Walt Disney
Studios .

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
Disney family
to be actively involved in the company.

On August 31, 2009, Disney announced a deal to acquire Marvel Entertainment
Entertainment
, Inc. for $4.24 billion. The deal was finalized on December 31, 2009 in which Disney acquired full ownership of 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, the company sold the Power Rangers brand, as well as its 700-episode library, back to Haim Saban . In January 2011, Disney Interactive Studios
Disney Interactive Studios
was downsized. In November, two ABC stations were sold. With the release of _Tangled _ in 2010, Ed Catmull said that the "princess" genre of films was taking a hiatus until "someone has a fresh take on it ... but we don't have any other musicals or fairytales lined up." He explained that they were looking to get away from the princess era due to the changes in audience composition and preference. However, in the Facebook page, Ed Catmull stated that this was just a rumor.

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 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 , along with plans to produce a seventh installment in its _ Star Wars _ franchise for 2015. On December 4, 2012, the Disney- Lucasfilm merger was approved by the Federal Trade Commission , allowing the acquisition to be finalized without dealing with antitrust problems. On December 21, 2012, the deal was completed with the acquisition value amounting to approximately $4.06 billion, and thus Lucasfilm became a wholly owned subsidiary of Disney (which coincidentally reunited Lucasfilm under the same corporate umbrella with its former spin-off and new sibling, Pixar).

On March 24, 2014, Disney bought Maker Studios , a YouTube
YouTube
company generating billions of views each year, for over $500 million in order to advertise to viewers in the crucial teenage/young adult demographics.

On May 9, 2014, Disney announced they have reached an agreement with Japan
Japan
's TV Asahi Corporation to air an English dub of the _ Doraemon _ anime series on Disney XD .

In August 2014, The Walt Disney
Walt Disney
Company filed three patents for using drones. Patents included using unmanned aerial vehicles (UAV) to lift marionettes in the air, raise mesh screens for floating video projections, and equipping drones with lights to make them part of a new kind of light show.

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.

On November 17, 2016, Disney announced a deal with The Pokémon Company (a joint-venture between Nintendo
Nintendo
, Game Freak , and Creatures ) to move the _Pokémon_ anime series to Disney XD from its longtime US TV home of Cartoon Network starting with _Pokémon the Series: Sun 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
Entertainment
is also a direct CEO reporting business, while its financial results are primarily divided between the Studio Entertainment
Entertainment
and Consumer Products segments. While Maker Studios is split between Studio Entertainment
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 Inc. , Disney Interactive , Disney Consumer Products , Disney India
India
Ltd. , The Muppets Studio , Pixar Animation Studios , Marvel Entertainment
Entertainment
, Marvel Studios , UTV Software Communications , Lucasfilm , and Maker Studios .

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 , and Disney Cruise Line .

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 Corporation , A+E Networks , and ESPN Inc. . Unlike the four other business segments, it is the only one with two leaders or "co-chairs": the presidents of ESPN
ESPN
and Disney-ABC Television Group. Thus, Disney has a total of eight business unit leaders who report to the CEO and COO.

* Disney–ABC Television Group

* ABC Television Network

* ABC Family Worldwide

* Freeform

* ABC Owned Television Stations Group

* Live Well Network

* A+E Networks (50%)

* Vice Media (20%)

*

* Disney Channels Worldwide

* Radio
Radio
Disney * Disney Television Animation

* Hulu
Hulu
(30%)

* ESPN Inc. (80%)

* BamTech (75%)

EXECUTIVE MANAGEMENT

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

PRESIDENTS

* 1923–45: Walt Disney
Walt Disney
* 1945–66: Roy O. Disney * 1966–71: Donn Tatum * 1971–77: Card Walker * 1978–83: Ron W. Miller * 1984–94: Frank Wells * 1995–97: Michael Ovitz * 2000–12: Robert A. Iger

CHIEF EXECUTIVE OFFICERS

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

CHAIRMEN OF THE BOARD

Walt Disney
Walt Disney
dropped his 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.

* 1945–60: Walt Disney
Walt Disney
* 1964–71: Roy O. Disney * 1971–80: Donn Tatum * 1980–83: Card Walker * 1983–84: Raymond Watson * 1984–2004: Michael Eisner
Michael Eisner
* 2004–2006: George J. Mitchell * 2007–12: John E. Pepper, Jr. * 2012–present: Robert A. Iger

VICE CHAIRMAN OF THE BOARD

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

CHIEF OPERATING OFFICERS

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

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

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

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

* ^ _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 , 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
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
United States
companies * 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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FURTHER READING

* _Disney Stories: Getting to Digital_, Newton Lee and Krystina Madej (New York, NY: 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
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
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 : 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 * Monica C. Lozano * Robert Matschullat * Mark Parker * Sheryl Sandberg
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
Entertainment
* Lucasfilm * Marvel Studios * Pixar

MEDIA NETWORKS

* Disney–ABC TV Group

* ABC Entertainment
Entertainment
Group * ABC TV Stations * A+E * Disney Channel
Disney Channel
* Hulu
Hulu

* ESPN
ESPN
(80%)

PARKS AND RESORTS

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

DCPI

* Disney Consumer Products

* Disney Store
Disney Store

* Disney Publishing
Publishing
Worldwide

* Disney English

* The Muppets Studio

DISNEY INTERACTIVE

* Babble * Disney Mobile * Disney Online * Maker Studios

INTERNATIONAL

* Argentina * CIS * France

* India
India

* UTV Software Communications

* Italy * Latin America

OTHER ASSETS

* Buena Vista * Marvel Entertainment
Entertainment
* Reedy Creek Energy

* v * t * e

Components of the Dow Jones Industrial Average

* 3M * American Express * Apple * Boeing
Boeing
* Caterpillar * Chevron * Cisco Systems * Coca-Cola * Disney * DuPont
DuPont
* ExxonMobil * General Electric
General Electric
* Goldman Sachs * The Home Depot * Intel
Intel
* IBM
IBM
* Johnson & Johnson * JPMorgan Chase * McDonald\'s * Merck & Co. * Microsoft
Microsof