| The Walt Disney Company |
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| Type |
Public (NYSE: DIS) |
| Founded |
Los Angeles, California, USA[1]
(October 16, 1923) |
| Founder |
Walt and Roy Disney |
| Headquarters |
Burbank, California, USA |
| Key people |
Robert Iger, President/CEO |
| Industry |
Media and Entertainment |
| Revenue |
▲ $35.510 billion USD (2007)[2] |
| Operating income |
▲ $7.827 billion USD (2007) |
| Employees |
133,000 (2006) |
| Divisions |
ABC, ABC Family, ABC Kids, Walt Disney Studios Distribution, Walt Disney Studios Motion Pictures Group, Disney Channel, Disney Channel Original, ESPN, ESPN2, Jetix, Walt Disney Studios, Walt Disney Parks and Resorts, Walt Disney Television, Walt Disney Television Animation, Walt Disney Records, Walt Disney Pictures, Touchstone Pictures, Miramax Films, ABC Studios, Playhouse Disney, Disney Consumer Products, Pixar, Soapnet, Disney Interactive Studios, Muppets Holding Company, Disney Store, and Toon Disney |
| Website |
http://corporate.disney.go.com/ |
The Walt Disney Company (NYSE: DIS) is the third largest media and entertainment corporation in the world, after News Corporation and Time Warner. Founded on October 16, 1923 by brothers Walt and Roy Disney as a small animation studio, it has become one of the biggest Hollywood studios, and owner of eleven theme parks and several television networks, including the American Broadcasting Company (ABC). The works of the Disney Company are the most translated works in the world, according to the Index Translationum.
Disney's corporate headquarters and primary production facilities are located in California at the Walt Disney Studios (Burbank).
The company is a component of the Dow Jones Industrial Average.
Holdings
Studio entertainment
Until 1955, Disney's only business was motion picture production. Disney Studio Entertainment, often 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.
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:
Disney also holds substantial interest in Lifetime (50%), A&E (37.5%), E! (40%, recently sold to Comcast), and Jetix Europe N.V. (74%). Disney also owns 25% of the GMTV company that operates the Breakfast Programmes on ITV, in the UK and 50% of Super RTL in Germany.
Through ABC, Disney also owns 10 local television stations, 2 local radio stations, and ESPN Radio, and Radio Disney. Although the ABC Radio Network was sold with other properties to Citadel Broadcasting, (which carries such radio personalities as Sean Hannity and Paul Harvey and distributes news bulletins by ABC News), Disney shareholders now own 57% of Citadel. Disney-ABC Domestic 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 At the Movies with Ebert & Roeper.
Disney also operates its own publishing company, Hyperion, 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, Infoseek search engine which it purchased in 1998, and leading websites such as Disney.com, ESPN.com, ABCNews.com and Movies.com. In March 2007, it was reported that Disney is launching a new Web site, Disney Family http://newsmax.com/archives/articles/2007/3/13/75712.shtml, which is a one-stop site for parents. [3]
Film and television library
The Walt Disney Company owns a large and substantial film and television library.
- The theatrical films and television shows produced by the Walt Disney label, Touchstone, Hollywood Pictures, Pixar and Miramax;
- The pre-2005 Dimension films library.
- After its purchase of ABC/Capital Cities, the company gained rights to most of its theatrical and television film library (including most of the Selznick International Pictures and Selmur Productions films) and a good mount of the Pre-Disney ABC television shows.
- In 2004, Disney bought the Muppet (The Muppet Show, The Muppet Movie) and Bear in the Big Blue House brands and libraries from The Jim Henson Company.
- Disney also bought individual films as well such as the 1940 version of Swiss Family Robinson from RKO and the silent film version of Peter Pan previously released by Paramount Pictures.
Consumer products
Disney parks
Note: Included for reference only. Tokyo Disneyland is not a holding of the Walt Disney Company, rather a licensed franchise operated by The Oriental Land Company.
History
Founding and early success (1922–1966)
- 1923: Walt signed a contract with M.J. Winkler to produce a series of Alice Comedies - October 16 - the date used as the start of the Disney company. Originally know as the Disney Brothers Cartoon Studio, with brothers Walt and Roy Disney, as equal partners.[4]
- 1924: First Alice comedy, "Alice's Day at Sea", released.
- 1926: At Roy's suggestion, the company changed its name to the Walt Disney Studio shortly after moving into the new studio on Hyperion Avenue in the Silver Lake district.
- 1927: The Alice series ends; first Oswald the Lucky Rabbit cartoon.
- 1928: Walt loses the Oswald series contract; first Mickey Mouse cartoon, "Steamboat Willie", released at the Colony Theatre in New York, the first cartoon with sound on November 18.
- 1929: First Silly Symphony, "The Skeleton Dance". On December 16, the original partnership formed in 1923 is replaced by Walt Disney Productions, Ltd. Three other companies, Walt Disney Enterprises, Disney Film Recording Company, and Liled Realty and Investment Company, are also formed.
- 1930: First appearance of Pluto.
- 1932: First three-strip Technicolor short released: "Flowers and Trees"; first appearance of Goofy.
- 1934: First appearance of Donald Duck.
- 1937: Studio produces its first full-length feature film, Snow White and the Seven Dwarfs. The film is also the first American animated feature film in history, and was the highest-grossing film of all time until 1939's Gone with the Wind.
- 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 first film to be recorded in stereophonic sound ("Fantasound").
- 1941: A bitter animators' strike occurs; as the USA enters World War II, the studio begins making morale-boosting propaganda films for the government. Dumbo is released.
- 1942: Saludos Amigos marks the beginning of a series of low-budget "package" animated films that would continue until 1950. Bambi is also released, after a six-year production period.
- 1943: Saludos Amigos is released in the United States.
- 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.
- 1945: For the first time, the studio hires live actors for a feature film (Song of the South).
- 1947: Sign First Independent Studio, The byrnest studio in Orlando which went bankrupt three years later.
- 1949: The studio begins production on its first all-live action feature, Treasure Island; the popular True-Life Adventures series begins.
- 1950: Cinderella is released, ending the series of "package" animated films and reviving Disney feature animation.
- 1951: Alice in Wonderland (1951 film) released.
- 1952: Walt Disney forms WED Enterprises on December 16 to design his theme park.
- 1953: Walt Disney forms Retlaw Enterprises on April 6 to control the rights to his name. It will later own and operate several attractions inside Disneyland, including the Monorail and the Disneyland Railroad. Peter Pan is released.
- 1954: The studio founds Buena Vista Distribution to distribute its feature films; beginning of the Disneyland TV program, which runs for decades under several different titles. Disney becomes one of the first American theatrical TV producers to show his recent films on television, although most of them are first shown in truncated versions to fit a one-hour time slot. Others are divided into two or more one-hour segments over several weeks, so that they can be shown on Disney's TV show.
- 1955: Disneyland Resort opens in Anaheim, California. Lady and the Tramp, the first widescreen animated film, is released
- 1957: Walt Disney Productions went public on November 12.
- 1959: Sleeping Beauty is released.
- 1961: One Hundred and One Dalmatians is released, the first feature-length animated film to use Xerography.
- 1963: The Sword and the Stone is released.
- 1964: Mary Poppins is released.
- 1966: Walt Disney dies of lung cancer.
After Walt's death (1967-1983)
Eisner era (1984–2005)
- 1984: Touchstone Films is created after the studio narrowly escapes a buyout attempt by Saul Steinberg, and releases its first film Splash. Roy Edward Disney and his business partner, Stanley Gold, remove Ron W. Miller as CEO and president, replacing him with Michael Eisner and Frank Wells. The Walt Disney Classics video collection starts up.
- 1985: The studio begins making cartoons for television beginning with Disney's Adventures of the Gummi Bears and The Wuzzles. The Black Cauldron, the studio's first PG-rated animated film, is a box-office failure, along with Return To Oz. The home video release of Pinocchio becomes a best-seller.
- 1986: The company's name is changed on February 6 from Walt Disney Productions to The Walt Disney Company. Disney's first R-rated film, Down and Out in Beverly Hills, is released under the Touchstone banner. The Great Mouse Detective is released.
- 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. The company opens up a Hall of Fame with Fred MacMurray as the first induction.
- 1988: Who Framed Roger Rabbit, a co-production of Disney's Touchstone Pictures and Steven Spielberg's Amblin Entertainment is released on June 22. Oliver and Company is released on November 18.
- 1989: Disney offers a deal to buy Jim Henson's Muppets and have the famed puppeteer work with Disney resources; Disney-MGM Studios opens at Walt Disney World; The Little Mermaid sparks a Disney animation renaissance.
- 1990: Jim Henson's death sours the deal to buy his holdings; the anthology series is canceled for the second time. The Rescuers Down Under is released.
- 1991: Beauty and the Beast is released, becoming the only animated film nominated for the Academy Award for Best Picture.
- 1992: The controversial Euro Disney Resort opens outside Paris. Aladdin is released.
- 1992: The Disney Company is granted permission for a National Hockey League expansion franchise. The team is named the Mighty Ducks of Anaheim to coincide with the release of The Mighty Ducks.
- 1992: Disney releases the live action musical Newsies, staring Christian Bale and Robert Duvall.
- 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.
- 1994: Frank Wells is killed in a helicopter crash. Jeffrey Katzenberg resigns to co-found his own studio, DreamWorks SKG. Plans for Disney's America, a historical theme park in Haymarket, Virginia, are abruptly dropped. Euro Disneyland is renamed Disneyland Paris. The Classics video line is unofficially canceled and replaced with the Masterpiece Collection. The Lion King, the highest-grossing traditionally animated film in history. [5]
- 1995: In October, the company hires Hollywood super agent Michael Ovitz to be president. Disney purchases DiC Entertainment, and owned rights to shows, including Inspector Gadget (which eventually would be made into a live-action film in 1999) and dubbing of the first two seasons of Sailor Moon. The first computer-animated feature film, Toy Story, produced by Pixar Animation Studios, is released by Disney, and becomes the year's top-grossing film. Pocahontas is also released.
- 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". The Hunchback of Notre Dame (1996 film) is released.
- 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.[6] Hercules is released.
- 1998: Disney's Animal Kingdom opens at Walt Disney World. Kiki's Delivery Service, the first Studio Ghibli film under the Disney/Ghibli deal, is released on video. Disney Cruise Line sets sail with its first ship, the Disney Magic. Mulan is released. A Bug's Life is released as the second produced by Pixar Animation Studios.
- 1999: Tarzan is released
- 2000: Fantasia 2000 is released to IMAX Theaters.
- 2000: Robert Iger becomes president. Disney-owned TV channels are pulled from Time Warner Cable briefly during a dispute over carriage fees. Disney begins its Gold Classic Collection DVD line.
- 2001: Disney's California Adventure and Tokyo DisneySea open to the public. Disney buys Fox Family for $3 billion in July, giving Disney programming and cable network reaching 81 million homes. Disney changes Fox Family to ABC Family. Fort Worth billionaire Sid Bass is forced to sell his Disney holdings due to a margin call caused partially by the stock market fall that followed the 9/11 attacks. The fact that Bass had bought his shares on margin was a shock when it was revealed. Losing Bass was a blow to Eisner; Bass was one of his major backers and had recruited Eisner to Disney. Disney begins its Platinum Edition DVD line with Snow White and the Seven Dwarfs, as well as the Walt Disney Treasures DVD box set line for the collector's market.
- 2002: Walt Disney Studios open near Disneyland Paris (renamed Disneyland Park). The entire area is now called Disneyland Resort Paris. Disney finishes negotiations to acquire Saban Entertainment, owner of children's entertainment juggernaut Power Rangers. Subsidiary Miramax acquires the USA rights to the Pokémon movies starting with the fourth movie. Disney releases the Academy Award-nominated animated film Lilo & Stitch. Disney teams up with famous video game company Squaresoft (later known as Square-Enix) to release their first ever role-playing game with various Disney characters, Kingdom Hearts. Disney releases Spirited Away in the U.S., which goes on to be the first anime film to win an Oscar for Best Animated Film. Disney begins joint venture business with Sanrio for Sanrio's greeting cards. Treasure Planet is released in theaters.
- 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 Pirates of the Caribbean: The Curse of the Black Pearl is released, becoming the first film released under the Disney label with a PG-13 rating. Pixar ends distribution agreement with Disney. Animated films Home on the Range and The Incredibles are released.
- 2004: Comcast makes an unsuccessful hostile bid for the company. CEO Michael Eisner is replaced by George J. Mitchell as chairman of the board after a 43% vote of no confidence. Disney turns down distributing controversial documentary film Fahrenheit 9/11, which ends up making $100 million. On February 17, Disney buys the Muppets (excluding the Sesame Street characters). Disney creates Jetix the children's block that mainly consists of Fox Kids shows and original programming on ABC Family and Toon Disney.
- 2005: Jetix is distributed worldwide in Europe and Latin America in channels of their own rights. Disney agrees to sell the Anaheim Mighty Ducks to Henry Samueli of Broadcom for reported $75 million dollars. On July 8, Roy E. Disney rejoins the company as a consultant with the title of Director Emeritus. Disneyland celebrates its 50th anniversary on July 17. Hong Kong Disneyland officially opens on September 12.
Iger era (2005–Present)
Senior Executive Management
Current board of directors
Current division heads
Chairmen of the Board
Vice Chairman of the Board
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