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The Walt Disney Company (most commonly known as Disney) () is one of the largest media and entertainment corporations in the world. Founded on October 16, 1923 by brothers Walt and Roy Disney as a small animation studio, today it is one of the largest Hollywood studios and also owns eleven theme parks, two water parks and several television networks, including the American Broadcasting Company (ABC).
Disney's corporate headquarters and primary production facilities are located at the Walt Disney Studios in Burbank, California, USA. The company is a component of the Dow Jones Industrial Average. It had revenues of $31.9 billion in 2005.
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Studio Entertainment
Disney's original (and, until 1955, only) business is motion picture production. Disney Studio Entertainment, also known as the Walt Disney Studios, includes Disney's movie and animation studios, record labels, and Broadway-style stage shows. Since 2002 it has been headed by chairman Dick Cook.
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Motion pictures
The Buena Vista Motion Pictures Group is a collection of Disney's main movie studios, made up of;
In addition to the well-known theme parks and resorts, this division includes Disney Regional Entertainment (which operates the ESPN Zone sports-themed restaurants), Walt Disney Imagineering, and Walt Disney Creative Entertainment. Previously, "Anaheim Sports, Inc." was also within this division. Anaheim Sports operated the Mighty Ducks of Anaheim hockey club (sold in 2005 to Broadcom executive Henry Samueli) and the Anaheim Angels baseball team (sold to advertising magnate Arturo Moreno in 2003).
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Media Networks
Its Media Networks unit is centered around the American Broadcasting Company (ABC) television network, which it acquired through a merger with Capital Cities/ABC in 1996. Properties include:
Disney also owns a group of cable networks including: The Disney Channel, ABC Family, Toon Disney, the ESPN group, and SOAPnet. Disney also holds substantial interest in Lifetime (50%), A&E (37.5%), E! (40%) and Jetix Europe N.V. (74%).
Through ABC, Disney also owns 10 local television stations, 26 local radio stations, and ESPN Radio, Radio Disney, and the ABC Radio (to be sold with another properties to Citadel Broadcasting, which carries such radio personalities as Sean Hannity and Paul Harvey and distributes news bulletins by ABC News). Buena Vista Television, which also is a part of the Media Networks unit, produces such syndicated television programs as Who Wants to Be a Millionaire, Live with Regis and Kelly, and Ebert & Roeper.
Disney also operates its Hyperion publishing company and Walt Disney Internet Group (WDIG) through Media Networks. Hyperion has recently published books by comedian-author Steve Martin and bestselling author Mitch Albom. WDIG includes the Go.com web portal, based on the old Infoseek search engine which it purchased in 1998, and leading websites such as Disney.com, ESPN.com, ABCNews.com and Movies.com .
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Consumer Products
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Founding and early success (1923&1954)
1925: At Walt Disney's insistence, the company is renamed Walt Disney Studios.
1930: First appearance of Pluto.
1938: On September 29, Walt Disney Enterprises, Disney Film Recording Company, and Liled Realty and Investment Company are merged into Walt Disney Productions.
1940: Studio moves to the Burbank, California buildings where it is located to this day. Release of animated features Pinocchio, the first animated film to win both Best Original Score and Best Song Academy Awards, and Fantasia, the world's first film to be recorded in stereophonic sound ("Fantasound").
1942: Saludos Amigos marks the beginning of a series of low-budget "package" animated films that would continue until 1950.
1944: The company is short on cash; a theatrical re-release of Snow White and the Seven Dwarfs generates much-needed revenue and begins a reissue pattern for the animated feature films.
1950: Cinderella is released, ending the series of "package" animated films and reviving Disney feature animation.
1954: The studio founds Buena Vista Distribution to distribute its feature films; beginning of the Disneyland TV program
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After Walts death (1967-1983)
1977: Roy Edward Disney, son of Roy and nephew of Walt, resigns from the company citing a decline in overall product quality and issues with management.
1978: The studio licenses several minor titles to MCA Discovision for laserdisc release; only TV compilations of cartoons ever see the light of day through this deal.
1980: Tom Wilhite becomes head of the film division with the intent of modernizing studio product; a home video division is created.
1981: Plans for a cable network are announced. Dumbo hits the shelves for video retail, making it the first animated Disney feature available on video.
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The Eisner era (1984&2003)
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1986: The studio's first R-rated release comes from Touchstone Pictures; the anthology series is revived; the company's name is changed on February 6 from Walt Disney Productions to The Walt Disney Company.
1987: The company and the French government sign an agreement for the creation of the first Disney Resort in Europe: the Euro Disney project starts.
1990: Jim Henson's death sours the deal to buy his holdings; the anthology series is canceled for the second time.
1993: Disney acquires independent film distributor Miramax Films; Winnie the Pooh merchandise outsells Mickey Mouse merchandise for the first time; the policy of periodic theatrical re-issues ends with this year's re-issue of Snow White and the Seven Dwarfs but is augmented for video.
1995: In October, the company hires Hollywood super agent, Michael Ovitz, to be president. The world's first computer animated feature film Toy Story, produced by Pixar Animation Studios, is released by Disney, and becomes the year's top-grossing film.
1996: The company takes on the Disney Enterprises name and acquires the Capital Cities/ABC group, renaming it ABC, Inc. To celebrate the pairing, ABC's first Super Soap Weekend is held at Walt Disney World. Disney makes deal with Tokuma Shoten for dubbing and releasing of Studio Ghibli films in the U.S. In December, Michael Ovitz, president of the company, leaves "by mutual consent."
1997: The anthology series is revived again; the home video division releases its first DVDs.
The Southern Baptist Convention votes to boycott The Walt Disney Company over opposition to the latter offering equal health and other benefits to gays and lesbians, as well as Disney allowing outside organizers to have "Gay and Lesbian Days" at Walt Disney World. Disney ignored the boycott, which failed and was withdrawn by the SBC on June 22, 2005.*
2000: Robert Iger becomes president. Disney begins their Gold Classic Collection and Platuim Edition DVD line, replacing their Classic and Masterpiece Collection series.
2001: Disney-owned TV channels are pulled from Time Warner Cable briefly during a dispute over carriage fees; Disney's California Adventure and Tokyo DisneySea open to the public; Disney begins releasing Walt Disney Treasures DVD box sets for the collector's market. Disney buys Fox Family for $3 billion in July, giving Disney programming and cable network reaching 81 million homes.
2003: Roy E. Disney resigns as the chairman of Feature Animation and from the board of directors, citing similar reasons to those that drove him off 26 years earlier; fellow director Stanley Gold resigns with him; they establish "SaveDisney" to apply public pressure to oust Michael Eisner. Pixar computer animated film Finding Nemo is released by Disney, becoming the highest-grossing animated film in history until 2004's DreamWorks film Shrek 2. Live-action film is released, becoming the first film released under the Disney label with a PG-13 rating.
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Today (2005& )
2006: On January 23, Disney announces a deal to purchase Pixar Animation Studios in an all-stock transaction worth $7.4bn. The deal is finalized on May 5. In the process, former Pixar CEO, and current Apple Computer CEO Steve Jobs, becomes the single largest individual Disney shareholder, holding 7% of outstanding shares. On June 12, 2006 Disney Mobile phone service is launched. In July 2006, the Disney film Pirates of the Caribbean 2 is the highest grossing movie in opening weekend history at $135,000,000 USD. In September 2006, the film becomes the third film in the world to reach the $1 billion mark.
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Senior Executive Management
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Current board of directors
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Current division heads
Walt Disney International - Andy Bird
Consumer Products - Andrew P. Mooney
Disney-ABC Television Group - Anne Sweeney
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Disney Chairmen of the Board
From 1945 to 1960, Walt and Roy O. Disney were co-chairmen of the board. Walt dropped the chairman title but kept the title of president so he could focus more on the creative aspect of the Disney parks and feature animation. Roy O. Disney remained as chairman of the board and CEO, taking care of the business aspects of the company.
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Disney Vice Chairman of the board
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Disney CEOs
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Disney Presidents
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Disney COOs
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See also
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Most recent financial statements
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Annual reports
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Books
"Cult of the Mouse," Harry M. Curoselli.
The Disney Version: The Life, Times, Art and Commerce of Walt Disney, Richard Schickel, 1968, revised 1997, ISBN 1566631580
"Disney: The Mouse Betrayed.
The Disneyization of Society, Alan Bryan
Walt Disney: An American Original, Bob Thomas, 1976, revised 1994, ISBN 0786860278
Storming the Magic Kingdom: Wall Street, the raiders, and the battle for Disney, John Taylor, 1987, *, *, ISBN 0394546407 ISBN 0345354079
Building a Company: Roy O. Disney and the Creation of an Entertainment Empire, Bob Thomas, 1998, ISBN 0786862009
How to Read Donald Duck, Ariel Darton
The Keys to the Kingdom: How Michael Eisner Lost His Grip, Kim Masters, 2000, ISBN 0688174493
Disneyization of Society: Alan Bryman, 2004, ISBN 0761967656
Married to the Mouse, Richard E. Foglesorg, Yale University Press.
Mouse Tracks: The Story of Walt Disney Records, Tim Hollis and Greg Ehrbar, 2006, ISBN 1578068495
Mouse Tales: A Behind-the-Ears Look at Disneyland, David Koenig, 1994, revised 2005, ISBN 096406054X
Inside the Dream: The Personal Story of Walt Disney, Katherine Greene & Richard Greene, 2001, ISBN 0786853506
Team Rodent, Carl Hiassan.
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