The Walt Disney Company

The Walt Disney Company, more commonly known as Disney, is an American multinational mass media and entertainment conglomerate owned by Disney, Inc. and headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October 16, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Studio; it also operated under the names the Walt Disney Studio and Walt Disney Productions before changing its name to The Walt Disney Company in 1986. Early on, the company established itself as a leader in the animation industry, with the creation of the widely popular character Mickey Mouse, who is the company's mascot, and the start of animated films.
After becoming a major success by the early 1940s, the company started to diversify into live-action films, television and theme parks in the 1950s. Following Walt's death in 1966, the company's profits began to decline, especially in the animation division. Once Disney's shareholders voted in Michael Eisner as the head of the company in 1984, the studio began to see an overwhelming amount of success during a period called the Disney Renaissance. In 2005, under new CEO Bob Iger, the company started to expand and acquire other corporations. Bob Chapek became the head of Disney in 2020 after Iger's retirement.
Since the 1980s, Disney has created and acquired corporate divisions in order to market more mature content than is typically associated with its flagship family-oriented brands. The company is known for its film studio division Walt Disney Studios, which includes Walt Disney Pictures, Walt Disney Animation Studios, Pixar, Marvel Studios, Lucasfilm, 20th Century Studios, 20th Century Animation, and Searchlight Pictures. Disney's other main business units include divisions in television, broadcasting, streaming media, theme park resorts, consumer products, publishing, and international operations. Through these various segments, Disney owns and operates the ABC broadcast network; cable television networks such as Disney Channel, ESPN, Freeform, FX, and National Geographic; publishing, merchandising, music, and theater divisions; direct-to-consumer streaming services such as Disney+, Star+, ESPN+, Hulu, and Hotstar; and Disney Parks, Experiences and Products, which includes several theme parks, resort hotels, and cruise lines around the world.
Disney is one of the biggest and most well-known companies in the world and has been ranked number 53 on the 2022 Fortune 500 list of biggest companies in the United States by revenue. Since its founding, the company has won a total of 135 Academy Awards, with 32 of them coming from Walt. The company has also been said to have produced some of the greatest films of all time as well as revolutionizing the theme park industry. Disney has also been criticized for alleged plagiarism, producing racist content in the past, and both including and lacking LGBT-related elements in its films. The company, which has been public since 1940, trades on the New York Stock Exchange (NYSE) with ticker symbol DIS and has been a component of the Dow Jones Industrial Average since 1991. In August 2020, just under two-thirds of the stock was owned by large [financial institutions.
Starting in 2021, The Walt Disney Company is one of the main media conglomerates alongside The Onward Company and The Sonic & Donkey Kong Company.
==History==
===The Alice Comedies and Oswald the Lucky Rabbit (plus formation of Universal Studios)===
In early 1923, Walt Disney created a short film entitled Alice's Wonderland, which featured child actress Virginia Davis interacting with animated characters. Film distributor Margaret J. Winkler contacted Disney with plans to distribute a whole series of Alice Comedies based upon Alice's Wonderland. The contract signed, Walt and his brother Roy Disney moved to Los Angeles. On October 16, 1923, they officially set up shop in their uncle Robert Disney's garage, marking the beginning of the Disney Brothers Cartoon Studio (currently Walt Disney Animation Studios). Within a few months, the company moved into the back of a realty office in downtown Los Angeles, where production continued on the Alice Comedies. In January 1926, the studio moved to a newly constructed studio facility on Hyperion Avenue in the Silver Lake district of Los Angeles. At the same time, Walt renamed the company Walt Disney Studio. Walt and Roy teamed up with Carl Laemmie to built the Disneyverse's first incarnation of Universal Studios in 1924. On January 10, 1942, Walt and Roy founded Columbia Pictures with brothers Harry and Jack Cohn and producer Joe Brandt.
After the end of the Alice Comedies, Disney developed an all-cartoon series for Winkler and the first incarnation of Universal Pictures - Oswald the Lucky Rabbit in 1927. Universal owned the rights to the titular character while Winkler Pictures served as the "middleman" between Disney and Universal. Disney only completed 27 Oswald shorts before losing the contract in March 1928, when Winkler's husband Charles Mintz hired away all of Disney's animators to start his own animation studio. Notable animators that left Disney include Hugh Harman, Rudolf Ising, Robert McKimson, and Rollin Hamilton. Ub Iwerks was one of the few animators who stayed with Disney.
===Mickey Mouse and Silly Symphonies===
Following the loss of several animators, Walt Disney and Ub Iwerks created the Disneyverse god-like legend, Mickey Mouse. Disney's first sound film, Steamboat Willie, a cartoon starring Mickey, was released on November 18, 1928. It was the third Mickey Mouse cartoon, behind Plane Crazy and The Gallopin' Gaucho. It was also 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. Next, A fourth Mickey Mouse cartoon, known as The Man and the Mouse, was released in 1930.
A second Disney series of sound cartoons, the Silly Symphonies, debuted in 1929 with The Skeleton Dance. Each Silly Symphony was a one-shot cartoon centered around music or a particular theme.
On December 16, 1929, Walt Disney Studio's name was changed to Walt Disney Productions, Ltd. and a few subsidiaries were established: Walt Disney Enterprises (for merchandising), Disney Film Recording Company, Ltd. (for music), and Liled Realty and Investment Company (for real estate). 
In 1930, with the release of The Man and the Mouse, disputes over finances between Disney and Powers led to Walt Disney Productions signing a new distribution contract for their new company Columbia Pictures, and Powers signing away Ub Iwerks, who began producing cartoons at his own studio. Disney faces off against these wicked Backyardigans franchise with the 1930's Pirate Treasure.
In 1932, Disney signed an exclusive contract with Technicolor (founded at the end of 1935) to produce cartoons in color, beginning with Flowers and Trees (1932) (the first-ever Disneyverse film produced by Columbia Pictures). At the same time, Disney released future cartoons through United Artists until 1937, when United Artists attempted to attain future television rights to the Disney shorts. From 1937 to 1956, most of Disney's films would be distributed through RKO Radio Pictures, which owns and operates Disney among the 1940s. 
===Formation of the second film studio===
In 1933, Walt Disney began conveicing a deal with Harman and Ising, in which he began to saw about the creation of the Looney Tunes/Merrie Melodies series, which they conceived them after they planned to originate the cartoon series. Walt and Roy later searched for Harman-Ising Studio on Hollywood Boulevard in Hollywood, California. Leon Schlesinger was brought in to help Disney recieving a special treat for it, which he later wanted to set up its own studio at Sunset Boulevard in Hollywood, in which Disney creates the Leon Schlesinger Productions (which, in 1944, would later been known as Warner Bros., the second Disneyverse film studio ever being formed after Disney).
===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. Considerable training and development went into the production of Snow White, with Silly Symphonies such as The Goddess of Spring (1934) and The Old Mill serving as experimentation grounds for new techniques, including the animation of realistic human figures, special effects animation, and the use of multiplane camera, an invention which split animation artwork layers into several planes, allowing the camera to appear to move dimensionally through an animated scene. Snow White cost Disney a then-expensive sum of $1.4 million to complete.
Taking three years to complete, Snow White and the Seven Dwarfs, based upon the Grimm Brothers' fairy tale, premiered in December 1937 and became the highest-grossing film of that time by 1939.
On September 29, 1938, the company and subsidiaries were combined to create a single company titled Walt Disney Productions, which would transform the Earth into a magical entertainment place for technologies, everyone and stuffs.
Using the profits from Snow White, Disney financed the construction of a new studio complex in Burbank, California. The new 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, Walt Disney Productions had its initial public offering.
The studio continued releasing animated shorts and features, such as Pinocchio (1940) and Fantasia (1940). Much of the character animation on these productions and all subsequent ones until the late 1970s was supervised by a brain trust of animators Walt Disney dubbed the "Nine Old Men", many of whom also served as directors on the Disney features Frank Thomas, Ollie Johnston, Woolie Reitherman, Les Clark, Ward Kimball, Eric Larson, John Lounsbery, Milt Kahl, and Marc Davis.
The development of the feature animation department created a caste system at the Disney studio: lesser animators (and feature animators in-between assignments) were assigned to work on the short subjects, while animators higher in status at the studio working on the features.
A bitter union strike in mid-1941 resulted in an exodus of several animation professionals from the studio, from top-level animators such as Art Babbitt and Bill Tylta to artists more known for later works such as Frank Tashlin, John Hubley, Maurice Noble, and Walt Kelly. The inexpensive Dumbo was released just before the United States' entry into World War II in 1941 and became a box office success, while Bambi did not see release until mid-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 appeared in a number of comical propaganda shorts, including the Academy Award-winning Der Fuehrer's Face (1943).
===Post-war and television===
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 (1945) 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 and won numerous 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 Film Distribution (now Walt Disney Studios Motion Pictures).
In December 1950, Walt Disney Productions and the defunct television company The Coca-Cola Company (later Coca-Cola Communications and now Coca-Cola Corporation (formerly Pepsi Corporation), which owns its American and Canadian Coca-Cola and Coca-Cola Freestyle major beverage multibrands) 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, which would go on to become one of the longest-running primetime series of all time. 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.
===Disneyland===
In 1954, Walt Disney used his Disneyland series to unveil what would become Disneyland, an idea conceived out of a desire for a place where parents and children could both have fun at the same time. Development took place at WED Enterprises. On July 17, 1955, Disneyland was previewed with a live television broadcast hosted by Art Linkletter and Ronald Reagan. On July 18, 1955, Walt Disney opened Disneyland to the general public. After a shaky start, 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. Walt decided to change the world and reimagined everything, focusing on the lining to bring films (with scores recorded in Los Angeles, then in Australia, and later in New York) and they decided to improve its questions with it.
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, as well as separate episodes on the Disneyland series. 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), modern-day comedies (The Shaggy Dog, 1959), and adaptations of children's books (Pollyanna, 1960). Disney's most successful film of the 1960s was a live-action/animated musical adaptation of Mary Poppins, which received five Academy Awards, including Best Actress Julie Andrews.
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 in one form or another. During this time, 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.
===The deaths of Walt and Roy Disney and the opening of Walt Disney World===
On December 15, 1966, Walt Disney died of lung cancer, and Roy Disney took over as chairman, CEO, and president of the company. One of his first acts was to rename Disney World as "Walt Disney World," in honor of his brother and his vision.
In 1967, the last two films Walt actively followed were released: the animated feature, The Jungle Book and the musical, The Happiest Millionaire. The studio released a number of comedies in the late 1960s, including The Love Bug (1968) and The Computer Wore Tennis Shoes (1969), which starred another young Disney discovery, Kurt Russell. The 1970s opened with the release of Disney's first "post-Walt" animated feature, The Aristocats, followed by a return to fantasy musicals in 1971's Bedknobs and Broomsticks.
On October 1, 1971, Walt Disney World opened to the public, with Roy Disney dedicating the facility in person later that month. Two months later, on December 20, 1971, Roy Disney died of a stroke, leaving the company under control of Donn Tatum, Card Walker, and Walt's son-in-law Ron Miller, each trained by Walt and Roy.
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.
===1972–1984: Theatrical malaise and new leadership===
While Walt Disney Productions continued releasing family-friendly films throughout the 1970s, such as Escape to Witch Mountain (1975), A Nightmare on Lincoln Street (1975) and Freaky Friday (1976), the films did not fare as well at the box office as earlier material. However, the animation studio saw success with Robin Hood (1973) and The Rescuers (1977). During the production of Robin Hood and The Rescuers, the aging members of the Nine Old Men began training replacements in anticipation of retirement. Led by Eric Larson, the training program would bring artists such as Don Bluth, Glen Keane, John Musker, and Ron Clements to the forefront of the studio's talent roster.
Its film library was valuable but offered few current successes, and its leadership team was unable to keep up with other studios. One example is Don Bluth, who defected from Disney along with 11 other animators following the release of Pete's Dragon (1978). Also, in 1978, plans were announced for a second theme park at Walt Disney World. Disney began collaborating with 60 companies to produce contents, develop resources, and tasked with public references to the inner life.
Inspired by the popularity of Star Wars, the Disney studio produced the science-fiction adventure The Black Hole in 1979. The Black Hole was one of the first Disney releases to carry a PG rating, the first being Take Down, also released in 1979. In 1980, Disney launched Walt Disney Home Video to take advantage of the newly emerging videocassette market. The company has also joined venture with Paramount Pictures on the production of the 1980 film adaptation of Popeye, which was a critical failure, yet a moderate box office success, Disney joined with Paramount again in the 1981 fantasy epic Dragonslayer, which was more mature than anything Disney was ever involved with at the time, though it was a box office failure, while The Fox and the Hound did not see release until 1981. The releases of these and other PG-rated Disney films such as the boldly innovative Tron (1982) led Disney CEO Ron Miller to create a new brand for Disney to release more adult-oriented material.
Walt Disney World received much of the company's attention throughout the end of the 1970s and into the 1980s. In October 1, 1982, EPCOT Center, opened to the public. 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. 
On April 1, 1983, Disney's live-action film studio was split off into Walt Disney Pictures.
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, which opened on April 15, 1983.
On April 18, 1983, The 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.
Despite the success of the Disney Channel and its new theme park creations, Walt Disney Productions was financially vulnerable. The remaining old guard Disney animators retired after the production of the film, and the new animators - including newer recruits such as John Lasseter (who joined the newly-formed Pixar after being fired from Disney in 1983) and Andreas Deja - forged ahead on their own.
===1984-1986: Restructuring===
In 1984, financier Saul Steinberg launched a hostile takeover bid for Walt Disney Productions, with the intent of selling off its various assets."OUTRAGE OVER DISNEY BUYOUT" - The New York Times Disney successfully fought off the bid with the help of friendly investors, and Sid Bass and Roy Disney's son Roy Edward Disney brought in Michael Eisner and Jeffrey Katzenberg from Paramount Pictures and Frank Wells from Warner Bros. to head up the company and replace Ron W. Miller, who created Touchstone Pictures which premiered with its first comedy film Splash (1984). Additionally, going against a thirty-year studio policy, the company founded a TV animation division on December 5.
At this time, the company considered shuttering its legacy animation studio. In the interest of saving what he believed to be the studio's core business, Roy E. Disney persuaded Eisner to let him supervise the animation department in the hopes of improving its fortunes. Eisner agreed, making Roy E. Disney chairman of the newly reorganized Walt Disney Feature Animation. Peter Schneider became the first president of Feature Animation at the studio.
On February 1, 1985, the entire animation staff was moved out of the Animation building on the Disney studio lot in Burbank, which was instead occupied by management and television production staff. The animation staff relocated to the Air Way complex, a former air hanger 20 miles away in Glendale. The last film released by the old feature animation studio would be The Black Cauldron, while the newly-formed Walt Disney Feature Animation's first film would be The Great Mouse Detective.
On February 6, 1986, Walt Disney Productions would rename itself The Walt Disney Company."Plans New Name, SEC Filing Says: Disney Details Future Changes in Company" - The Los Angeles Times
===1984–2004: Restructuring Walt Disney Productions===
Since the death of Walt Disney in 1966 and his older brother, Roy in 1971, Walt Disney Productions had narrowly survived takeover attempts by corporate raiders. Its shareholders Sid Bass and Roy E. Disney brought on former Paramount CEO Michael Eisner and former Warner Brothers chief Frank Wells to replace Ron W. Miller in 1984 and strengthen the company. One of the bigger decisions made in this time period was splitting Walt Disney Productions into The Walt Disney Company and Walt Disney Feature Animation
During the second half of the 1980s and early 1990s, Disney revitalized. Beginning with Who Framed Roger Rabbit (1988), and later, The Little Mermaid (1989), its flagship animation studio enjoyed a series of commercial and critical successes. 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, and Gargoyles. 
====New Beginning: 1989====
On February 3, 1989, Disney announced the event that would feature every classic cartoon characters (who originates the world of "film studios" prior to the creation of which anniversaries Disney itself, The Onward Company's own Warner Bros. itself (when established in 1933) and Paramount Pictures (when established in 1934) subsidiaries, The Sonic & Donkey Kong Company's own Universal Pictures (the second incarnation of Universal Studios) (when established in 1935), Metro-Goldwyn-Mayer (when established in 1937)) and PBS/PBS Kids (when established in 1955) subsidiaries, plus the newly-formed Japanese-American Sony corporate franchise which includes the newly-formed Columbia Pictures Entertainment (including Columbia TriStar Pictures and Columbia TriStar Television), the long-running Columbia Pictures Home Entertainment (then operated as a subsidiary of Columbia Pictures Entertainment), Columbia Pictures Business Affairs and CBS Records, plus the long-running Columbia Pictures film studio originally founded in 1924. 
Disney plans to bring Earth into the "mightiest Disney-like planet" with motion pictures, television, video gaming, interactive media entertainment, social media, theme parks, and licensing plus artificial mythologies (e.g. Cartoonverse, Comedyverse, Dramaverse and Horrorverse) and doomsday scenarios/global catastrophic risks (e.g. Armageddon, 2012 phenomenon, Ragnarök, Rapture, Nibiru catalysm and Gamma-ray burst). 
Disney also broadened its adult offerings in film when then Disney Studio Chairman Jeffrey Katzenberg acquired Miramax Films and its subsidiary Dimension Films in 1993. Disney acquired many other media sources during the decade, including a merger with Capital Cities/ABC in 1996 which brought broadcast network ABC and its assets, including a majority stake in the ESPN networks, a minorty stake in the A+E Networks, a 50% stake in Lifetime Entertainment Services and the limited partnership-ran animation studio DIC Entertainment in the Disney fold.
During the early part of the 1990s, Eisner and his partners set out to plan "The Disney Decade" which was to feature new parks around the world, existing park expansions, new films, and new media investments. While some of the proposals did follow through, most did not. These included the Euro Disney Resort (now Disneyland Paris), Disney-MGM Studios (now Disney's Hollywood Studios), Disney California Adventure Park, Disney-MGM Studios Paris (eventually opened in 2002 as Walt Disney Studios Park), and various film projects including a Who Framed Roger Rabbit franchise. In 1993, Disney established its new standard modeling music community known as The Walt Disney Music Community, which would contribute to the music of Disney films, while the Disney characters (including the ones from Disney Renaissance) would appear on.
Wells died in a helicopter crash in 1994 (The Lion King, which went on to become the most successful hand-drawn animated picture of all time, was dedicated to his memory). Shortly thereafter, Katzenberg resigned and formed DreamWorks Pictures and DreamWorks Animation with partners Steven Spielberg and David Geffen because Eisner would not appoint Katzenberg to Wells' now-available post. 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, and Eisner's predecessors Raymond Watson and Cardon 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 hadn't violated the letter of the law (namely, the duty of care owed by a corporation's officers and board to its shareholders).
===="Save Disney" campaign and Eisner's ouster====
In 2002, Disney announced a partnership with Puyo Puyo Enterprises in 2004 to produce two new animated shows: Arle and Raffina and Rulue Adventures, which would both be co-produced by Puyo Puyo Television and Walt Disney Television Animation, while Disney announced it would partner with Splashinis Worldwide Studios to co-produce two new animated shows: The Heart of the Jungle and Moners Sixton 2590, in which Splashinis Television and Walt Disney Television Animation would be co-producing them. Disney announced that it would put up a collaboration with Backyardigans Agencies and Puyo Puyo Enterprises to give help upon the creation of four new shows. 
In 2003, Roy E. Disney, the son of Disney co-founder Roy O. Disney and nephew of Walt Disney, resigned from his positions as the company's vice chairman and chairman of Walt Disney Feature Animation, accusing Eisner of micromanagement, flops with the ABC television network, timidity in the theme park business, turning the Walt Disney Company into a "rapacious, soul-less" company, and refusing to establish a clear succession plan, as well as a string of box-office movie failures since the end of the Renaissance era in 2000.
On March 3, 2004, at Disney's annual shareholders' meeting, a surprising and unprecedented 43% of Disney's shareholders, predominantly rallied by former board members Roy Disney and Stanley Gold, withheld their proxies to re-elect Eisner to the board. Disney's board then gave the chairmanship position to Mitchell. However, the board did not immediately remove Eisner as chief executive.
On March 13, 2005, Eisner announced that he would step down as CEO one year before his contract expired. On September 30, Eisner resigned both as an executive and as a member of the board of directors, and, severing all formal ties with the company, he waived his contractual rights to perks such as the use of a corporate jet and an office at the company's Burbank headquarters. Eisner's replacement was his longtime assistant, Bob Iger.
===2005–2020: The Iger Era===
On July 8, 2005, Walt Disney's nephew Roy E. Disney returned to the Walt Disney Company as a consultant and with the new title of Non Voting Director, Emeritus. Walt Disney Parks and Resorts celebrated the 50th Anniversary of Disneyland Park on July 17, and opened Hong Kong Disneyland on September 12. Walt Disney Feature Animation released Chicken Little, the company's first film using 3-D animation. On October 1, Robert Iger replaced Michael 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.
Disney acquired Oswald the Lucky Rabbit, a character Walt created for Universal Pictures, from NBCUniversal in February 2006. It was done through a trade that sent sportscaster Al Michaels from Disney’s ABC and ESPN to NBC’s NBC Sports. The deal included the rights to the character and the Oswald cartoons animated by the Walt Disney Studio that did not enter the public domain.
Aware that Disney's relationship with Pixar was wearing thin, President and CEO Bob Iger began negotiations with leadership of Pixar Animation Studios, 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, 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 both Walt Disney Animation Studios and Pixar Animation Studios, as well assuming the role of Principal Creative Adviser at Walt Disney Imagineering.
After a long time working in the company as a senior executive and large shareholder, Director Emeritus Roy E. Disney died from stomach cancer on December 16, 2009. At the time of his death, he had roughly 1% of all Disney shares which amounted to 16 million. He is seen to be the last member of the Disney family to be actively involved in the running of the company and working in the company altogether.
On December 31, 2009, Disney acquired Marvel Entertainment, Inc. for $4.24 billion. Disney has stated that their acquisition of the company will not affect Marvel's products, neither will the nature of any Marvel characters be transformed.
In October 2009, 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 began selling the Miramax brand and its 700-title film library. On March 12, ImageMovers Digital, Robert Zemeckis's company which Disney had bought in 2007, was shut down. In April 2010, Lyric Street, Disney's country music label in Nashville, was shut down. In May 2010, the company sold the Power Rangers brand, as well as its 700-episode library, back to Haim Saban. In June, the company canceled Jerry Bruckheimer's film project Killing Rommel. In September 2010, 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 fairy tales 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 official Facebook page for Disney, 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 is slated to open in 2015. 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."
On October 30, 2012, Disney announced plans to acquire Lucasfilm and release Star Wars Episode VII in 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.
On May 29, 2013, Disney set release dates for eight currently untitled animated films through 2018, including four from Disney Animation and four from Pixar Animation.
In March 2018, the Walt Disney Company developed together with Samsung Mickey and Minnie Mouse Emojis.
====Acquisition of 21st Century Fox====
On December 14, 2017, The Walt Disney Company announced that it was acquiring most of Fox's parent company, 21st Century Fox, including the film studio.
On May 7, 2018, shares of Fox rose 5.1% when a report was released that Comcast was in talks with investment banks and firms in order to obtain bridge-financing for an all-cash bid, reportedly worth $60 billion, that threatened the Disney-Fox deal.
On May 29, it was reported that Disney was looking into making its own all-cash counter-offer for Fox assets in the event that Comcast went through with their offer. The next day, Disney and Fox announced that they have set their shareholder vote meetings for July 10, though both companies have stated that Fox's meeting could be postponed if Comcast came through with their offer.
On June 12, AT&T was given approval by District Judge Richard J. Leon to acquire Time Warner, easing concerns Comcast had regarding whether government regulators would block their bid for Fox. Consequently, the next day, Comcast mounted a bid of $65 billion for the 21st Century Fox assets that were set to be acquired by Disney.
On June 18, it was reported that Disney will add to its already existing $52 billion claim to contest Comcast's proposed counteroffer for the Fox assets.
On June 20, Disney and Fox announced that they had amended their previous merger agreement, upping Disney’s offer to $71.3 billion (a 10% premium over Comcast's $65 billion offer), while also offering shareholders the option of receiving cash instead of stock.
On June 21, Murdoch said in response to Disney's higher offer: "We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry." That still does not prevent other companies from making a bid, as the deal needed to be voted on by shareholders. Iger explained the reasoning behind the bid: "Direct-to-consumer distribution has actually become an even more compelling proposition in the six months since we announced the deal. There has just been not only a tremendous amount of development in that space, but clearly the consumer is voting—loudly."
On June 27, the United States Department of Justice gave antitrust approval to Disney under the condition of selling Fox's 22 regional sports channels, to which the company has agreed.
On July 9, a Fox shareholder filed a lawsuit to stop the acquisition from Disney citing the absence of financial projections for Hulu. On the same day, CNBC reported that Comcast was looking for companies that could take over Fox's Regional Sports Networks. This would make easier Comcast's legislative problems regarding the takeover of Fox assets, preparing to make a new all cash counter-offer before July 27, 2018.
On July 12, the Department of Justice (DOJ) filed a notice of appeal with the D.C. Circuit to reverse the District Court's approval for AT&T's acquisition of Time Warner (now WarnerMedia). Although analysts say that the chances of a DOJ win are small, they say it is the "final nail in the coffin for Comcast's Fox chase. This is a clear gift to Disney." On the next day, CEO of AT&T Randall Stephenson gave an interview with CNBC, about Comcast's bid for Fox: "It probably can't help it. You're in a situation where two entities are bidding for an asset, and this kind of action can obviously influence the outcome of those actions."
On July 13, Disney received the support of the Institutional Shareholder Services and Glass Lewis, the two most prominent proxy adviser firms in the world. Fox shareholders were recommended by the advisers as means to provide for Disney's future.
On July 16, CNBC reported that Comcast is unlikely to continue its bidding war to acquire Fox from Disney in favor of Sky.
On July 19, Comcast officially announced that it was dropping its bid on the Fox assets in order to focus on their bid for Sky. The CEO of Comcast, Brian L. Roberts, said "I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company."
On July 25, TCI Fund Management, the second largest shareholder of 21st Century Fox, voted to approve the Fox-Disney deal.
On July 27, Disney and Fox shareholders approved Disney's purchase of Fox's entertainment assets. The acquisition's completions should be in the first half of 2019. On the same day, Bloomberg News reported that out of all 15 nations yet to approve the deal, China could become the biggest threat to the merger since the trade war with the USA resulted in the merger between Qualcomm and NXP not being realized.
On August 9, it was reported that Viacom CEO Robert Bakish wants to license its TV ad targeting tech to the entire industry, starting with Fox.
On August 12, the Competition Commission of India approved the Disney-Fox deal.
On September 17, the European Commission announced plans of deciding what to do with the Disney-Fox deal by October 19.
On October 5, Disney announced the commencement of exchange offers and consent solicitations for 21st Century Fox.
On October 8, Disney announced that 21st Century Fox's top television executives would join the company, including Peter Rice, Gary Knell, John Landgraf, and Dana Walden. Rice will serve as Chairman of Walt Disney Television and co-chair of Disney Media Networks, succeeding Ben Sherwood while Walden is to be named Chairman of Disney Television Studios and ABC Entertainment.
On October 10, it was reported that the new, post-merger organizational structure of "New Fox" would be implemented by January 1, 2019, ahead of the closure of the Disney sale (which is still expected to occur during the first half of 2019).
On October 15, Disney offered a list of concessions to the European Commission, which extended the review deadline to November 6.
On October 18, Disney announced a new organizational structure for The Walt Disney Studios.
On November 6, the sale was cleared by the European Commission, pursuant to the divestment of certain factual television networks in Europe owned by the Disney/Hearst joint venture A&E Networks, including Blaze, Crime & Investigation, History, H2, and Lifetime. Disney will continue to be a 50 percent owner of A&E in areas outside of the European Economic Area.
On November 19, Chinese regulators approved the Disney-Fox deal, without any conditions, with regulatory approval from several countries still remaining.
After obtaining approval from Chinese regulators, Disney reported that it still needed to obtain regulatory approval from several other regulators, though the approvals from the United States, European Union, and China were considered the most important hurdles to clear.
On November 21, Disney expected to get approval from Brazil's antitrust division, the Administrative Council for Economic Defense (CADE), within two weeks. On December 3, CADE stated that the deal would concentrate the market of cable sports channels. CADE recommended remedial measures, and has until March 23, 2019 to issue a decision; the deadline may be extended for 90 days.
On December 13, Disney announced a new organizational structure for its international operations and the individuals who would join the company, including Rebecca Campbell, Jan Koeoppen, Diego Lerner, and Uday Shankar. Shankar who currently serves as Chairman and President Fox Networks Group Asia and Star India will lead Disney's Asian operations and will become the new Chairman of Disney India.
By December 14, the merger was subjected to regulation in Mexico, where Disney/Fox would account for 27.8% of content distribution across all genres. Sports broadcasting was Mexico's main concern.
On December 26, NBC News reported that the deal is expected to close on the last week of January 2019.
On January 3, 2019, Bloomberg reported that Brazil's Administrative Council for Economic Defense (CADE) is expected to approve the media-asset deal without pressing for any property sales. CADE is expecting to see a proposal from the two companies that includes behavioral changes after some back-and-forth meetings in December. Concerns centered on the sports impact from the combination of ESPN and Fox Sports. According to the report, CADE is aware that other services compete in sports broadcasting. A ruling could come as soon as January 30, when regulators come back from year-end recess.
On January 7, 21st Century Fox filed a registration statement with the U.S. Securities and Exchange Commission to create Fox Corporation, the company to be spun off in connection with the Walt Disney Company's acquisition of most of its film and television assets. "New" Fox will include the company's branded news, sports and entertainment assets: Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes, and Big Ten Network.
On January 11, Fox Corporation said in a securities filing that it has no plans to bid on the Fox regional sports networks that Disney is selling to get approval for the assets to be acquired from 21st Century Fox. The deal between Disney and Fox is expected to close between February and March. However, on January 30, in a SEC filing by Disney, it was reported that the deal is expected to close by June.
On January 31, Mexico's Federal Commission of Economic Competition (COFECE) approved the Disney-Fox deal after Disney agreed to sell its stake in Walt Disney Studios Sony Pictures Releasing de México, a Mexican film distributor, to Sony Pictures Motion Picture Group.
On February 5, during Disney's Q1 2019 earnings call, Bob Iger confirmed that Disney was still waiting on approval from the "last few remaining markets" for Disney-Fox.
On February 12, Bob Iger met with Brazil's antitrust regulator CADE to discuss the Disney-Fox deal. However a decision on the deal still could not be reached. CADE has until March 17th to make a decision. If the deal is not discussed at CADE's February 27th meeting then an extension will most likely be given extending the review a further 90 days. Regulators are split on whether the deal can be approved without the need for Disney to sell either Fox Sports or ESPN. However, on February 20, Bloomberg confirmed that CADE will make its ruling on the Disney-Fox deal on February 27, 2019.
On February 21, Bloomberg reported that Disney will divest Fox Sports in Brazil and Mexico to get approval in these countries. The two countries are among the last major hurdles for the Disney-Fox deal.
On February 27, Brazil's antitrust agency CADE approved the merger with conditions requiring Disney to divest Fox Sports Brazil among other measures. The regulator said that they coordinated with regulators in Mexico and Chile in evaluating the transaction. Brazil's approval clears one of the final hurdles, allowing the deal to be completed as early as March.
On March 4, The Walt Disney Company tweaked Robert Iger’s compensation package he would receive upon closing the Disney-Fox deal, removing $13.5 million in potential salary and incentive awards available for the chief executive after the company closes its acquisition of 21st Century Fox Inc. assets.
On March 5, Disney announced that Craig Hunegs would lead the combined TV operations at Disney Television Studios once the Disney-Fox deal closes. Hunegs will be president of the division, with oversight of all operations, including ABC Studios, ABC Signature, 20th Century Fox Television, and Fox 21 TV studios. He'll report to Dana Walden, currently chairman/CEO of Fox Television Group who will be chairman of Disney Television Studios and ABC Entertainment.
On March 7, Bob Iger stated at an annual meeting that the Disney–Fox deal would be ready to close 'soon', and that following the acquisition, 20th Century Fox would still keep its name alongside Fox Searchlight Pictures, and the FX Networks.
On March 11, Mexico's telecom regulator, Federal Telecommunications Institute (IFT) approved the deal under the condition that Disney and Fox agree to sell Fox Sports in the country. They also had to keep the National Geographic brand separate from its A&E channels. This cleared the last major holdout on the deal.
On March 12, Disney announced that it has set to close the Fox deal on March 20, 2019.
On March 19, Fox Corporation officially became a standalone, publicly traded company, separate from 21st Century Fox, making Fox Corporation the owner of the assets that were not acquired by Disney. The announcement also included appointment of the board of directors. Also on March 19, 2019, 21st Century Fox officially completed distribution of shares ahead of the completion of the Disney deal on March 20.
On March 20, the deal was officially completed.
=====Post-acquisition=====
On March 21, it was reported that Disney would shut down the Fox 2000 Pictures studio on October 4, 2019, following the release of The Woman in the Window. On the same day it was reported that up to 4,000 people could lose their jobs as Disney commenced layoffs following the merger.
On April 3, Debmar-Mercury, the television syndication arm of Lionsgate announced that will end its national ad sales partnership with 20th Television, and they will transfer their national ad sales for their first-run and off-network shows by the company to CBS Television Distribution Media Sales. However, Tyler Perry's Meet the Browns will continue to be handled by Disney for ad sales even after CTD takes over the national ad sales for the company's shows.
On April 10, Disney's ESPN unit acquired a package of rights to the Big 12 Conference in college athletics that had previously been held by Fox.
On April 15, Hulu acquired AT&T's 9.5 stake in Hulu for $1.43 billion, with Disney and NBC Universal co-owning the share.
On April 24, Disney announced that it had canceled a number of upcoming Fox films such as Mouse Guard, News of the World (whose rights were then picked up by Universal Pictures), and an adaptation of Angie Thomas' On the Come Up (whose rights were then moved to Paramount Players), and that some projects, such as the Kingsman prequel The Great Game, Fear Street, and Steven Spielberg's remake of West Side Story, were still in production. Sinclair Broadcast Group agreed on April 26 to acquire Fox Sports Networks (excluding the YES Network, being sold separately to Yankee Global Enterprises) from Disney for $10 billion.
On May 7, Disney announced a revised release schedule for several Disney and Fox films. Among the changes, several films (Artemis Fowl, Ad Astra, Spies in Disguise, The New Mutants, and Call of the Wild), were moved to later release dates. All the Fox Marvel movies previously scheduled for release after 2019 were removed from the schedule. Avatar 2 was rescheduled from 2020 to a 2021 Christmas release, after which the Avatar sequels will be released every other Christmas holiday release, alternating with the Star Wars sequels through 2027.
On May 14, Disney announced it had assumed control of Hulu as part of a put/call agreement with Comcast and its 30% stake in the service. Comcast will continue to license NBCUniversal content and live carriage of NBCUniversal channels until late 2024 and their stake in Hulu could be sold to Disney as early as January of that year. In addition, both companies will fund Hulu's purchase of AT&T's 9.5% stake in Hulu.
On July 3, Fox Stage Productions was moved into Disney Theatrical Group as Buena Vista Theatrical division with all top executives leaving at that time. On August 1, Disney announced that the Fox Research Library will be folded into the Walt Disney Archives and Disney Imagineering Archives by January 2020.
On August 7, Disney announced that they would overhaul Fox film projects in development except Avatar, Planet of the Apes, and Kingsman sequels due to Dark Phoenix causing a third-quarter loss. A new reduced slate of about 10 films per year fully overseen by Disney will now be the main focus, with 20th Century Fox making half of the movies for Hulu and Disney+. Fox properties, such as Home Alone, Night at the Museum, and Diary of the Wimpy Kid have been assigned for Disney+ release and assigned to Fox Family.
On August 9, the Los Angeles Times reported that Disney would be pulling all Fox film library titles out of all theater chains and moving them onto either Hulu or Disney+. Little Theatre, a local theater chain in Rochester, New York, was forced to cancel their August 5 screening of Fight Club after Disney notified the theater that it was not allowed to screen the film in the future.
On August 22, Sinclair completed its acquisition of Fox Sports Networks from Disney. Seven days later, the Yankees/Sinclair/Amazon consortium also completed the acquisition of the 80% share of YES Network from Disney on August 29, 2019 with the Yankees owning 65%, Sinclair owning 20%, and Amazon owning the remaining 15%.
On September 10, Disney announced their plans to sell video game division FoxNext, preferring to license its properties for video games rather than develop them.
On October 22, the Banijay Group announced its intent to acquire Endemol Shine Group from Disney and Apollo Global Management for $2.2 billion. Disney and Apollo agreed to sell Endemol to Banjay on October 26, 2019, pending antitrust approval from regulators.
On October 24, Vulture reported that Disney was placing all of Fox's older films into the Disney Vault, with several theaters and film programmers reporting that Fox's back catalogue was no longer available to them.
On January 17, 2020, Variety reported that Disney dropped the "Fox" name from "20th Century Fox" and "Fox Searchlight Pictures" branding, instead rebranding it respectively as "20th Century Studios" and "Searchlight Pictures". The renaming was done to avoid brand confusion as the two studios are no longer tied to the Fox Corporation.
On August 10, 2020, Disney announced a reorganization and rebranding of its television studios, with 20th Century Fox Television being subsumed by 20th Television, and Fox 21 Television Studios being rebranded as Touchstone Television (reviving a name dropped in 2007 by what then became ABC Studios — which itself was renamed ABC Signature).
===2020–present: The Chapek Era===
On February 25, 2020, Bob Iger stepped down as chief operating officer of The Walt Disney Company, effective immediately, and named Bob Chapek of Disney Parks, Experiences and Products as its new CEO. Iger then assumed the role of Executive Chairman and its Board of Directors to ensure a smooth transition through the end of his contract with the company on December 31, 2021.
In April 2020, Iger resumed operational duties of the company as executive chairman to help the company through the 2019-20 coronavirus pandemic. In the same month, CEO Bob Chapek was appointed to its board of directors.
The company also announced that it would suspend pay to more than 100,000 employees ("cast members") at Disney Parks, Experiences and Products in response to the Coronavirus recussion—reportedly amounting to monthly savings of $500 million for the company—while continuing to provide full healthcare benefits. Reportedly, staff in the United States and France is affected and was encouraged to apply for government support.
Due to the closure of Disney parks as a result of the COVID-19 pandemic, Disney experienced a 63% drop in earnings for the fiscal second quarter of 2020, resulting in a loss of $1.4 billion for the company. Additionally, the Parks, Experiences and Products division experienced a loss of $1 billion in revenue. Abigail Disney, an heir to the Walt Disney fortune, criticized the company for maintaining dividends and bonuses worth more than $1.5bn while suspending the pay of 100,000 workers during the coronavirus pandemic. In September 2020, the company announced that it will be laying off 28,000 employees in Florida and California. According to Disney's park chairman, Josh D'Amaro, "We initially hoped that this situation would be short-lived and that we would recover quickly and return to normal. Seven months later, we find that has not been the case." According to D’Amaro, two-thirds of all employees reported to be laid off were part-time workers.
On February 8, 2023 Disney announced that it will be cutting $5.5B in costs, which includes eliminating 7000 jobs representing 3% of its workforce. Disney plans to reorganize into three divisions: ESPN, Entertainment, and parks and experiences.
===Merger with The Onward Company and The Sonic & Donkey Kong Company===
In January 2022, The Walt Disney Company agreed with The Onward Company and The Sonic & Donkey Kong Company (which will be the principal companies of the Disneyverse together with it) a merger proposal that it is set for the end of 2022. Three companies approved their New Year's Eve 2023 merger.
In March 2022, The Walt Disney Company, The Onward Company, and The Sonic & Donkey Kong Company announced that they had been successful with these ventures. Disney decided to approve a $2 billion merger with the latter two companies. Disney announced the "greatest world of entertainment" to have three companies running successful fantasy epic adventures at the same time.
In July 2022, Disney announced the "transformation" of the three companies as parent companies under Disney, Inc., an unclassified company owned by Disney, which will own the Disneyverse batch of companies. David Zaslav was hired as the director of The Onward Company. Alicia Schwarz, the founder and supervising president of The Onward Company, announced, "We will think about these conglomerates that would compete together and have responsibility for great entertainment for audiences of all ages, and we will create entertainment." for everyone around the world.''
Kevin Feige stated, "We'll be ready to start again, and now we'll create our favorable way of presenting entertainment for all." Liam Mulvena sells his positions to Shigeru Miyamoto, who acted as president. Disney is also nearing completion of its merger scheduled for December 2022, with the final acquisitions of Comcast assets by The Sonic & Donkey Kong Company (whose NBC assets, including those of Telemundo, were spun off into recurring media entertainment company called NBC Corporation), marking the Sonic & Donkey Kong Company's Acquisition of NBCUniversal, a Disneyverse-style variant of the 21st Acquisition of NBCUniversal Century Fox by Disney.
The $2,266,179,836 budgeted merger was completed by New Year's Eve 2023. The Walt Disney Company, The Onward Company, and The Sonic & Donkey Kong Company eventually became the trio of three main media conglomerates of the Disneyverse, where their parent company is Disney, Inc..
==Company divisions and subsidiaries==
The Walt Disney Company operates six primary business units, which it refers to as "business segments":
===Divisions===
*Disney Media and Entertainment Distribution (DMED) is responsible for all global distribution, operations, sales, advertising, data, and technology functions for the company's four content production groups, as well as management of the company's direct-to-consumer businesses, including its multiple streaming services (Disney+, Hulu, ESPN+, and Star+), theatrical exhibition unit, home media distribution, Disney Music Group, and domestic television networks. The division is led by Kareem Daniel.
*Disney Parks, Experiences, and Products (DPEP) oversees the company's theme parks, cruise line, travel-related assets, consumer products, and publishing divisions. Disney's resorts and diversified related holdings include: Walt Disney World, Disneyland Resort, Tokyo Disney Resort, Disneyland Paris, Hong Kong Disneyland Resort, Shanghai Disney Resort, Disney Vacation Club, Disney Cruise Line, and Adventures by Disney. The division is led by Josh D'Amaro.
===Content groups===
*The Walt Disney Studios consists of the company's filmed entertainment and theatrical entertainment businesses, including Walt Disney Pictures, Walt Disney Animation Studios, Pixar, Marvel Studios, Lucasfilm, 20th Century Studios, Searchlight Pictures, Disneynature, and Disney Theatrical Group. The division is led by Alan Bergman.
*Disney General Entertainment Content (DGE) consists of the company's entertainment-centric television channels and production companies in the United States, including Walt Disney Television (consisting of the ABC television network, Disney Television Studios – ABC Signature, 20th Television and 20th Television Animation – ABC Owned Television Stations and Freeform), Disney Branded Television, FX Networks, ABC News, and 73% ownership of National Geographic Partners. The division is led by Dana Walden.
*ESPN and Sports Content focuses on ESPN's live sports programming, as well as sports news and original and non-scripted sports-related content, for the cable channels, ESPN+, and ABC. The division is led by James Pitaro.
*Disney International Content and Operations focuses on overseeing local and regional contents that pipelined with global market through managing ad sales, distribution, productions, and operations for its international linear channels and streaming services, split into four different hubs: Asia-Pacific, Europe, Middle East and Africa (EMEA), India, and Latin America. The division is led by Rebecca Campbell.
*Marvel Entertainment (9%) is a business reporting directly to the CEO; its financial results are primarily divided between the Studios and Consumer Products segments. The company is 58% co-owned by The Onward Company, which Disney owns 9%.
==Leadership==
===Current===
;Board of Directors
*Susan Arnold (Chairman)
*Mary Barra
*Safra Catz
*Amy Chang
*Bob Chapek
*Francis deSouza
*Michael Froman
*Maria Elena Lagomasino
*Calvin McDonald
*Mark Parker
*Derica W. Rice
;Executives
*Bob Chapek, Chief Executive Officer
**Alan Bergman, Chairman, Disney Studios Content
**Rebecca Campbell, Chairman, International Content and Operations
**Jennifer Cohen, Executive Vice President, Corporate Social Responsibility
**Josh D'Amaro, Chairman, Disney Parks, Experiences and Products
**Kareem Daniel, Chairman, Disney Media and Entertainment Distribution
**Horacio Gutierrez, Senior Executive Vice President and General Counsel
***Jolene Negre, Associate General Counsel and Secretary
***Alicia Schwarz, Senior Vice President and Chief Compliance Officer
**Ronald L. Iden, Senior Vice President and Chief Security Officer
**Christine McCarthy, Senior Executive Vice President and Chief Financial Officer
***Carlos A. Gómez, Senior Vice President and Treasurer
***Diane Jurgens, Executive Vice President, Enterprise Technology and Chief Information Officer
***Alexia S. Quadrani, Senior Vice President, Investor Relations
***Brent Woodford, Executive Vice President, Controllership, Finance and Tax
**James Pitaro, Chairman, ESPN and Sports Content
**Paul Richardson, Senior Executive Vice President and Chief Human Resources Officer
***Latondra Newton, Senior Vice President, Chief Diversity Officer
**Kristina Schake, Senior Executive Vice President and Chief Communications Officer
**Dana Walden, Chairman, Disney General Entertainment Content
===Past leadership===
;Executive chairmen
*Bob Iger (2020–2021)
;Chairmen
Walt Disney stepped down as chairman 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 became chairman.
*Walt Disney (1945–1960)
*Roy O. Disney (1964–1971)
*Donn Tatum (1971–1980)
*Card Walker (1980–1983)
*Raymond Watson (1983–1984)
*Michael Eisner (1984–2004)
*George J. Mitchell (2004–2006)
*John E. Pepper Jr. (2007–2012)
*Bob Iger (2012–2021)
*Susan Arnold (2022–present)
;Vice chairmen
*Roy E. Disney (1984–2003)
*Sanford Litvack (1999–2000)
;Presidents
*Walt Disney (1923–1945)
*Roy O. Disney (1945–1968)
*Donn Tatum (1968–1971)
*Card Walker (1971–1980)
*Ron W. Miller (1980–1984)
*Frank Wells (1984–1994)
*Michael Ovitz (1995–1997)
*Michael Eisner (1997–2000)
*Bob Iger (2000–2012)
;Chief executive officers (CEO)
*Roy O. Disney (1929–1971)
*Donn Tatum (1971–1976)
*Card Walker (1976–1983)
*Ron W. Miller (1983–1984)
*Michael Eisner (1984–2005)
*Bob Iger (2005–2020)
*Bob Chapek (2020–present)
;Chief operating officers
*Card Walker (1968–1976)
*Ron W. Miller (1980–1984)
*Frank Wells (1984–1994)
*Thomas O. Staggs (2015–2016)
==Financial data==
===Revenues===
Annual gross revenues of the Walt Disney Company (in millions USD)
Year	Studio Entertainment	Disney Consumer Products	Disney Interactive MediaWalt Disney Internet Group, from 1997 to 2000, next merged with Disney Media Networks, merged into Consumer Products and Interactive Media in 2016, which merged with Parks & Resorts in 2018Disney Interactive Media Group, starting in 2008 with the merge of WDIG and Disney Interactive Studios	Parks & Resorts	Disney Media Networks	Total 	Source
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	Form 10-K405, Filing Date: December 19, 1996.
1995	6,001.5 	2,150 	  	3,959.8 	414 	12,525	
1996	10,095 	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 	23,435	
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	 	 	712 	 	 	 	
2010	 	 	761 	 	 	 	
2011	 	 	982 	 	 	 	
2012	 	 	845 	 	 	 	
2013	 	 	 	 	 	 	
2014	 	 	 	 	 	 	
2015	 	 	 	 	 	 	
2016	 	 	 	 	 	 	
2017	 	 	 	 	 	 	
2018	 	 	 	 	 	 	
Annual gross revenues of the Walt Disney Company (Re-segmented) (in millions USD)
Year	Studio Entertainment	Direct-to-Consumer & International	Parks, Experiences and Products	Media Networks	Total	Source
2018	 	 	 	 	 	
2019	 	 	 	 	 	
2020	 	 	 	 	 	
Annual gross revenues of the Walt Disney Company (Re-segmented) (in millions USD)
Year	Media and Entertainment Distribution	Parks, Experiences and Products	Total	Source
2021	 	 	 	
===Operating income===
Annual Operating income of the Walt Disney Company (in millions USD)
Year	Studio Entertainment	Disney Consumer Products	Disney Interactive Media	Parks and Resorts	Disney Media Networks	Total	Source
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 	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 	4,079	
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	 	 	−295 	 	 	 	
2010	 	 	−234 	 	 	 	
2011	 	 	−308 	 	 	 	
2012	 	 	−216 	 	 	 	
2013	 	 	−87 	 	 	 	
2014	 	 	 	 	 	 	
2015	 	 	 	 	 	 	
2016	 	 	 	 	 	 	
2017	 	 	 	 	 	 	
2018	 	 	 	 	 	 	
Annual Operating income of the Walt Disney Company (Re-segmented) (in millions USD)
Year	Studio Entertainment	Direct-to-Consumer & International	Parks, Experiences and Products	Parks, Experiences and Products	Disney Media Networks	Total	Source
2018	 	 	 	 	 	 	
2019	 	 	 	 	 	 	
2020	 	 	 	 	 	 	
Annual Operating income of the Walt Disney Company (Re-segmented) (in millions USD)
Year	Media and Entertainment Distribution	Parks, Experiences and Products	Total	Source
2021	 	 	 	
==Criticism==
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 Press 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 have produced their merchandise.
==Corporate social responsibility==
Many animation studios are currently setting up arms for conducting activities related to Corporate Social Responsibility. Though many studios are still yet to have fully functional wings for these programs, the Walt Disney Company has already set up many programs in order to cement its image as an entity that is socially responsible.
Among the many programs initiated by Disney are the annual Enviroports (i.e. environmental report) that Disney now publishes yearly to keep its shareholders in touch with exactly how it attempts to optimize the company's operational impact on environmental issues such as reduction of waste, fossil-fuel use, and greenhouse gas emissions, as well as improved eco-system protection. This has led to appreciation by many third parties such as the Boston College Center for Corporate Citizenship and Reputation Institute, which ranks Disney 2nd in a Corporate Social Responsibility Index, with a score of 81.33, devised in 2010. The report also establishes that Disney has improved its performance year-on-year and is second on two out of the three categories listed for measurement.
==See also==
*Walt Disney Animation Studios
*Walt Disney
*Disney Channel
*Disney Junior
*Disney XD
===Main companies===
*The Onward Company
*The Sonic & Donkey Kong Company
==Further reading==
*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 Collectibles, Cecil Munsey, 1974
*Disneyization of Society: Alan Bryman, 2004
*DisneyWar, James B. Stewart, Simon & Schuster, 2005, ISBN 0-684-80993-1
*Donald Duck Joins Up; the 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 & Richard Greene, 2001
*The Keys to the Kingdom: How Michael Eisner Lost His Grip, Kim Masters (Morrow, 2000)
*The Man Behind the Magic; 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 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 & Pete Martin, 1957
*Team Rodent, Carl Hiassen.
*Walt Disney: An American Original, Bob Thomas, 1976, revised 1994, ISBN 0671223321
*Work in Progress by Michael Eisner with Tony Schwartz (Random House, 1998), ISBN 978-0375500718
== References ==
Category:The Walt Disney Company
Category:Companies based in Burbank, California
Category:1923 establishments
Category:American film studios
Category:Media conglomerates
Category:Main companies