The Walt Disney Company () is one of the largest media and entertainment corporations in the world. Founded on October 16, 1923, by brothers Walt and Roy Disney as an animation studio, it has become one of the biggest Hollywood studios, and owner and licensor of eleven theme parks and several television networks, including ABC and ESPN. Disney's corporate headquarters and primary production facilities are located at The Walt Disney Studios in Burbank, California.
The company is a component of the Dow Jones Industrial Average.
The Walt Disney Company owns and operates a series of resorts around the world including the Walt Disney World Resort, the largest vacation resort in the world. These resorts are managed by the Walt Disney Parks and Resorts division. These are:
Walt Disney signed a contract with M.J. Winkler to produce a series of Alice Comedies, beginning the Disney company under its original name Disney Brothers Cartoon Studio, with brothers Walt and Roy Disney, as equal partners.[1]
1924
First Alice comedy, Alice's Day at Sea, released.
1926
Company changed name to The Walt Disney Studio shortly after moving into the new studio on Hyperion Avenue in the Silver Lake district.
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.
On September 29, Walt Disney Enterprises, Disney Film Recording Company, and Liled Realty and Investment Company are merged into Walt Disney Productions.
The company is short on money; 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.
Retlaw Enterprises is formed to control the rights to "Disney". It will later own and operate several attractions inside Disneyland, including the Monorail and the Disneyland Railroad.
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.
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 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".
Disney takes control of the Major League Baseball franchise the California Angels of the American League, renaming the team the Anaheim Angels in order to coincide with Disney's hockey team the Mighty Ducks and to draw more tourism to Anaheim and nearby Disneyland.
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 TreasuresDVD box set line for the collector's market.
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 a group called "Save Disney" to apply public pressure to oust Michael Eisner.
Disney's media releases and company practices, have prompted action, including from activists, artists and causes around the world.
Religious groups, such as the Catholic League, have spoken out against the release of material which they and others found offensive, including vehement protests of the Miramax Films features Priest (1994) and Dogma (1999).[3] Disney pushed back the release date for Dogma due to the controversy surrounding the movie, and eventually sold the distribution rights to Lions Gate Films. The ABC show Nothing Sacred, about a Jesuitpriest, a children's book called Growing Up Gay (published by Disney-owned Hyperion Press), the annual Gay and Lesbian Days at Disney theme parks, and similar issues spurred boycotts of Disney and its advertisers by the Catholic League, the Assemblies of God, and other conservative groups.[4][3][5]
In 1995 an anti-abortion group, American Life League (ALL), alleged that several Disney films, including The Lion King, The Little Mermaid, and Aladdin, contained subliminal messages and sexual imagery.[8][9]
The latter allegation was later denied by Tom Sito, a Disney animator and a writer for The Lion King, said that the letters written in the dust were actually "S.F.X". It was intended to be an easter egg signature from the animation department, and that the controversy that followed was entirely unintentional.[10]
The company has been accused of human rights violations regarding the working conditions in factories that produce their merchandise.[11][12] It has been criticized also by animal welfare groups, for their care of and procedures for wild animals at Disney's Animal Kingdom theme park,[13] and for using purebred dogs in movies such as 101 Dalmatians. Animal rights groups claim movies with purebreds create an artificial demand for purebreds from people who may not be prepared or temperamentally suited for the animals, many of whom end up abandoned or surrendered to shelters or rescue groups.[14]
An environmental management plan for a zone of Great Guana Cay, in the Abaco Islands, criticized Disney for poor management of a tract of the island. Disney partially developed but then abandoned the place, which was to have been a cruise ship resort called Treasure Island. The report, by the University of Miami and the College of the Bahamas, blames Disney for leaving hazardous materials, electrical transformers, and fuel tanks, and for introducing invasive alien plants and insects that threaten the natural flora and fauna of the island.[15]
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