The Walt Disney Company

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The Walt Disney Company
Type	Public (NYSE: DIS)
Founded	Burbank, California, USA (1922)
Founder	Walt Disney and Roy Disney
Headquarters	Burbank, California, USA
Key people	John E. Pepper, Jr., Chairman Robert Iger, President/CEO
Industry	Media and Entertainment
Products	ABC, Buena Vista Distribution, Buena Vista Motion Pictures Group, ESPN, Walt Disney Studio Entertainment, Walt Disney Parks and Resorts, Disney Consumer Products
Revenue	$34.3 billion USD (2006)
Operating income	$6.491 billion USD (2006) (15.9% operating margin)
Net income	$3.374 billion USD (2006) (10.4% net margin)
Employees	133,000 (2006)
Website	www.disney.com

The Walt Disney Company (NYSE: DIS) is one of the largest media and entertainment corporations in the world. Founded on October 16, 1923 by brothers Walt and Roy Disney as a small animation studio, it became one of the largest Hollywood studios and also owns eleven theme parks, and several television networks, including the American Broadcasting Company (ABC).

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. It had revenues of $34.3 billion in 2006.

Contents 1 Holdings 1.1 Studio Entertainment 1.2 Media Networks 1.3 Consumer Products 2 History 2.1 Founding and early success (1922–1954) 2.2 After Walt's death 2.3 The Eisner era (1984–2005) 2.4 The Iger era (2005– ) 3 Acquired intellectual properties 4 Senior Executive Management 4.1 Current board of directors 4.2 Current division heads 4.3 Chairmen of the Board 4.4 CEOs 4.5 Presidents 4.6 COOs 5 Criticism 6 Parodies 7 See also 8 Books 9 External links

[edit] Holdings

[edit] Studio Entertainment

Disney's original (and, until 1955, only) business is motion picture production. Disney Studio Entertainment, also known as the Walt Disney Studios, includes Disney's movie and animation studios, record labels and Broadway-style stage shows. Since 2002 it has been headed by chairman Dick Cook.

• Buena Vista Motion Pictures Group: Disney's movie studio, which includes the Walt Disney, Touchstone, Hollywood, and Miramax labels
• Walt Disney and Pixar Animation Studios: Disney's animation studios, which operate independently of each other
• Buena Vista Pictures Distribution: distributes and markets company's motion pictures in the United States
• Buena Vista International: distributes company's motion pictures internationally
• Buena Vista Home Entertainment: distributes company's motion pictures to rental and retail markets
• Buena Vista Music Group: releases original music and movie soundtracks under four labels
• Buena Vista Theatrical Group: produces Broadway-style shows
• Disney Live Family Entertainment: produces Disney on Ice

[edit] 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:

• Walt Disney Television
• ABC Television Studio (formerly Touchstone Television)
• ABC Entertainment
• ABC Television Network
• Buena Vista Television
• ESPN
• SOAPnet
• Lifetime

Disney also owns a group of cable networks including: The Disney Channel, ABC Family, Toon Disney, the ESPN group, and SOAPnet. Disney also holds substantial interest in Lifetime (50%), A&E (37.5%), E! (40%, recently sold to Comcast) and Jetix Europe N.V. (100%).

Through ABC, Disney also owns 30 local television stations, 2 local radio stations, and ESPN Radio, Radio Disney, and the ABC Radio (to be sold with another properties to Citadel Broadcasting, which carries such radio personalities as Sean Hannity and Paul Harvey and distributes news bulletins by ABC News). Buena Vista Television, which also is a part of the Media Networks unit, produces such syndicated television programs as Who Wants to Be a Millionaire, Live with Regis and Kelly, and Ebert & Roeper.

Disney also operates its Hyperion publishing company and Walt Disney Internet Group (WDIG) through Media Networks. Hyperion has recently published books by comedian-author Steve Martin and bestselling author Mitch Albom. WDIG includes the Go.com web portal, 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, especially mothers. [1]

[edit] Consumer Products

• Disney Store
• Jim Henson's Muppets
• Disney Interactive Studios (formerly Buena Vista Games)

[edit] History

[edit] Founding and early success (1922–1954)

[edit] After Walt's death

• 1967: Construction begins on Walt Disney World; the underlying governmental structure (see Reedy Creek Improvement District) is signed into law. The Jungle Book, the last animated film involved with Walt Disney himself, is released.
• 1971: The Walt Disney World Resort opens in Orlando, Florida; Roy Oliver Disney dies; Donn Tatum becomes chairman and Card Walker becomes president.
• 1976: 20,000 Leagues Under the Sea (1954 film) becomes the first movie made by the studio to be shown on TV complete in one evening, as opposed to the way the Disney films were divided into weekly segments on his television show.
• 1977: Roy Edward Disney, son of Roy and nephew of Walt, resigns from the company citing a decline in overall product quality and issues with management.
• 1978: The studio licenses several minor titles to MCA Discovision for laserdisc release; only TV compilations of cartoons ever see the light of day through this deal.
• 1979: Don Bluth and a number of his allies leave the animation division; the studio releases its first PG-rated films, Take Down and The Black Hole.
• 1980: Tom Wilhite becomes head of the film division with the intent of modernizing studio product; a home video division is created.
• 1981: Plans for a cable network are announced. Dumbo hits the shelves for video retail, making it the first animated Disney feature available on video.
• 1982: EPCOT Center opens at Walt Disney World; Walt Disney's son-in-law Ron W. Miller succeeds Card Walker as CEO.
• 1983: As the anthology series is canceled, The Disney Channel begins operation on US cable systems. Tom Wilhite resigns his post as head of the film division. Tokyo Disneyland opens in Japan.

[edit] The Eisner era (1984–2005)

• 1984: Touchstone Pictures is created after the studio narrowly escapes a buyout attempt by Saul Steinberg, and releases their 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 and Masterpiece video collection starts up.
• 1985: The studio begins making cartoons for television beginning with Adventures of the Gummi Bears and The Wuzzles. The Black Cauldron, the studio's first PG-rated animated film, is released, but is a box office failure. The home video release of Pinocchio becomes a best-seller.
• 1986: The anthology series is revived; the company's name is changed on February 6 from Walt Disney Productions to The Walt Disney Company.
• 1987: The company and the French government sign an agreement for the creation of the first Disney Resort in Europe: the Euro Disney project starts.
• 1989: Disney offers a deal to buy Jim Henson's Muppets and have the famed puppeteer work with Disney resources; the Disney-MGM Studios open 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.
• 1991: Beauty and the Beast is released, becoming the first animated film nominated for the Academy Award for Best Picture.
• 1992: The controversial Euro Disney Resort opens outside Paris, France.
• 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. No explanation is given, and Disney announces a search for an alternate location. Euro Disneyland is renamed Disneyland Paris. The Lion King, the highest-grossing traditionally animated film in history (unadjusted for inflation), is released.
• 1995: In October, the company hires Hollywood super agent, Michael Ovitz, to be president. The world's first computer animated feature film Toy Story, produced by Pixar Animation Studios, is released by Disney, and becomes the year's top-grossing film.
• 1996: The company takes on the Disney Enterprises name and acquires the Capital Cities/ABC group, renaming it ABC, Inc. To celebrate the pairing, ABC's first Super Soap Weekend is held at Walt Disney World. Disney makes deal with Tokuma Shoten for dubbing and releasing of Studio Ghibli films in the U.S. In December, Michael Ovitz, president of the company, leaves "by mutual consent."
• 1997: The anthology series is revived again; the home video division releases its first DVDs. The Southern Baptist Convention votes to boycott The Walt Disney Company over opposition to the latter offering equal health and other benefits to gays and lesbians, as well as Disney allowing outside organizers to have "Gay and Lesbian Days" at Walt Disney World. Disney ignored the boycott, which failed and was withdrawn by the SBC on June 22, 2005.[2]
• 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.
• 2000: Disney-owned TV channels are pulled from Time Warner Cable briefly during a dispute over carriage fees; Robert Iger becomes president. Disney begins their Gold Classic Collection and Platuim Edition DVD line, replacing their Classic and Masterpiece Collection series.
• 2001: Disney's California Adventure and Tokyo DisneySea open to the public; Disney begins releasing Walt Disney Treasures DVD box sets for the collector's market. Disney buys Fox Family for $3 billion in July, giving Disney programming and cable network reaching 81 million homes.
• 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.
• 2002: 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 begins joint venture business with Sanrio for Sanrio's greeting cards.
• 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.
• 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).
• 2005: 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.

[edit] The Iger era (2005– )

• 2005: Bob Iger replaces Michael Eisner as CEO on October 1. Also on October 1, Miramax co-founders Bob Weinstein and Harvey Weinstein left the company to form their own studio.
• 2006: On January 23, Disney announces a deal to purchase Pixar Animation Studios in an all-stock transaction worth $7,400,000,000. The deal is finalized on May 5. In the process, former Pixar CEO, and current Apple Inc. CEO Steve Jobs, becomes the single largest individual Disney shareholder, holding 7% of outstanding shares. Pirates of the Caribbean: Dead Man's Chest is released, breaking multiple box office records, including highest-grossing opening day and opening weekend. The film also becomes the third film in motion picture history to gross over US$1 billion, when unadjusted for inflation.
• 2006: Disney sets record for number of people to visit its parks. A record of 112 Million people visited Disney parks in 2006.
• 2007: Disney released their first non-movie or TV show media- Spectrobes, a video game for the Nintendo DS.

[edit] Acquired intellectual properties

• The Muppets, 2004
• Schoolhouse Rock!
• The Gremlins by Roald Dahl
• Buck Rogers film rights, acquired 1997
• Abadazad acquired June, 2006
• Clare Milne's name (Christopher Robin's daughter), acquired after 1998
• Pixar and its library, 2006

[edit] Senior Executive Management

• Bob Iger (President and CEO)
• Thomas O. Staggs (Senior Executive Vice President and CFO)
• Alan N. Braverman (Senior Executive Vice President, General Counsel)
• John Lasseter (Chief Creative Officer)
• Andy Bird (President, Walt Disney International)
• Wes Coleman (Executive Vice President and Chief Human Resources Officer)
• Ronald L. Iden (Senior Vice President, Security)
• Kevin Mayer (Executive Vice President, Corporate Strategy, Business Development and Technology Group)
• Christine M. McCarthy (Executive Vice President, Corporate Finance and Real Estate and Treasurer)
• Zenia Mucha (Executive Vice President, Corporate Communications)
• Preston Padden (Executive Vice President Government Relations)
• Brent Woodford (Senior Vice President, Planning and Control)
• Steve Wadsworth (President, Walt Disney Internet Group)

[edit] Current board of directors

• John Bryson
• John S. Chen
• Judith Estrin
• Robert Iger (CEO)
• Steve Jobs
• Fred Langhammer
• Aylwin Lewis
• Monica Lozano
• Robert Matschullat
• John E. Pepper, Jr. (Chairman)
• Orin C. Smith

[edit] Current division heads

• Walt Disney International - Andy Bird
• Walt Disney Parks and Resorts - Jay Rasulo
  • Walt Disney Imagineering - Don Goodman
    • Walt Disney Creative Entertainment - Anne Hamburger
• Walt Disney Studios - Dick Cook
  • Pixar Animation Studios - Ed Catmull
  • Walt Disney Animation Studios - Ed Catmull
  • Buena Vista Music Group - Bob Cavallo
  • Walt Disney Pictures - Oren Aviv
  • Walt Disney Theatrical - Thomas Schumacher
• Consumer Products - Andrew P. Mooney
• Disney-ABC Television Group - Anne Sweeney
• ESPN and ABC Sports - George W. Bodenheimer

[edit] Chairmen of the Board

• 1945-1960: Walt Disney
• 1964-1971: Roy O. Disney
• 1971-1980: Donn Tatum
• 1980-1983: E. Cardon Walker
• 1983-1984: Raymond Watson
• 1984-2004: Michael Eisner
• 2004-2006: George J. Mitchell
• 2007-present: John E. Pepper, Jr.

Prior to 2004, the chairmanship was an executive position. With Mitchell's succession in 2004, the post became non-executive, meant to be held by an independent director who would lead the board of directors in its oversight of company management.

[edit] CEOs

• 1968-1971: Roy O. Disney
• 1971-1976: Donn Tatum
• 1976-1983: E. Cardon Walker
• 1983-1984: Ron W. Miller
• 1984-2005: Michael Eisner
• 2005-present: Robert Iger

Although Walt Disney's role at his production company was what would today be assigned to a CEO, Walt Disney Productions did not formally create the position until 1968.

[edit] Presidents

• 1940-1945: Walt Disney
• 1945-1968: Roy O. Disney
• 1968-1971: Donn Tatum
• 1971-1977: E. Cardon Walker
• 1980-1984: Ron W. Miller
• 1984-1994: Frank Wells
• 1995-1997: Michael Ovitz
• 2000-Present: Robert Iger

[edit] COOs

• 1968-1977: E. Cardon Walker
• 1977-1983: Ron W. Miller
• 1984-1994: Frank Wells
• 2000-2005: Robert Iger

The formal position of Chief Operating Officer was not created until Walt Disney Productions restructured itself in 1968. From the creation of the studio until his brother's death, Roy O. Disney had effectively served as COO.

[edit] Criticism

• The worldwide commercial success of the Disney brand is viewed by some as detrimental to cultural diversity (see Disneyfication).
• Disney is one among several American companies lobbying for harsher enforcement of intellectual property around the world and continued copyright term extensions, posing a perceived threat to the existence of the public domain; see Mickey Mouse Protection Act. Disney has aggressively protected its intellectual property, including suing three Hallandale, Florida daycares for featuring Disney characters on their walls. The images were removed and replaced with Hanna-Barbera characters instead ^source.
• The College Program at Disney World has attracted criticism. The program annually provides 8,000 college students with a five-to-eight month internship. Critics argue that Disney is exploiting it as a source of cheap labour, as interns do the same work as regular employees but at a substantially lower rate ^source.
• Disney has also been accused of human rights violations regarding the working conditions in factories that produce their merchandise. Among these is a campaign by the National Labor Committee drawing attention to abuses Niagra Textiles factory in Bangladesh and the use of sweatshop labour. ^source
• Another report conducted in 2001 by The Hong Kong Christian Industrial Committee on factories producing disney merchandise in China's Guangdong province concluded that "Disney's code of conduct and monitoring system are ineffective and of little use to workers" some of whom were as young as sixteen ^source. Based on this evidence, The Maquila Solidarity Network and Oxfam Canada awarded Disney their Sweatshop Retailer of the Year award for 2001, where Wal-Mart came in second and Nike placed third

source.

[edit] Parodies

Disney has been parodied in many cartoons such as:

• Kidney (The Fairly OddParents)
• Dizzy (Animaniacs)
• Wizzly (My Life as a Teenage Robot)
• Itchy and Scratchy (The Simpsons)
• Brisby World (The Venture Brothers)
• Trisney (Zicky Zira)

[edit] See also

• Notable feature films released under the Walt Disney name
• Notable television series produced by Disney subsidiaries
• List of assets owned by Disney
• List of Disney people
• Disneyfication
• A Trip Through the Walt Disney Studios, a documentary from 1937
• List of Disney theatrical animated features, List of Disney live-action films, List of Disney direct-to-video films
• Disney animated feature film source material
• Walt Disney Pictures
• Walt Disney Classics
• Walt Disney Home Entertainment
• Table of Disney characters
• Walt Disney Television Animation
• DisneyToon Studios

[edit] Books

• Cult of the Mouse, Harry M. Curoselli.
• The Disney Version: The Life, Times, Art and Commerce of Walt Disney, Richard Schickel, 1968, revised 1997, ISBN
• Disney: The Mouse Betrayed, Peter Schweizer
• Walt Disney: An American Original, Bob Thomas, 1976, revised 1994, ISBN
• Storming the Magic Kingdom: Wall Street, the raiders, and the battle for Disney, John Taylor, 1987, [3], [4], ISBN ISBN
• Building a Company: Roy O. Disney and the Creation of an Entertainment Empire, Bob Thomas, 1998, ISBN
• How to Read Donald Duck, Ariel Dorfman
• The Keys to the Kingdom: How Michael Eisner Lost His Grip, Kim Masters, 20, ISBN
• Disneyization of Society: Alan Bryman, 2004, ISBN
• DisneyWar, James B. Stewart, 2005, ISBN, ISBN
• Married to the Mouse, Richard E. Foglesorg, Yale University Press.
• Mouse Tracks: The Story of Walt Disney Records, Tim Hollis and Greg Ehrbar, 2006, ISBN
• Mouse Tales: A Behind-the-Ears Look at Disneyland, David Koenig, 1994, revised 2005, ISBN 0-9640605-4-X
• Inside the Dream: The Personal Story of Walt Disney, Katherine Greene & Richard Greene, 2001, ISBN
• Team Rodent, Carl Hiassen.

[edit] External links

• Disney Online
• Corporate information
• United States Securities and Exchange Commission - Company Information: WALT DISNEY CO

v • d • e Walt Disney Parks and Resorts
Disneyland Resort:	Disneyland | Disney's California Adventure
Walt Disney World Resort:	Magic Kingdom | Epcot | Disney-MGM Studios | Disney's Animal Kingdom
Tokyo Disney Resort:	Tokyo Disneyland | Tokyo DisneySea
Disneyland Resort Paris:	Disneyland Park | Walt Disney Studios Park
Hong Kong Disneyland Resort:	Hong Kong Disneyland
Disney Cruise Line:	Disney Wonder | Disney Magic | Castaway Cay
Disney Regional Entertainment:	ESPN Zone
Disney Vacation Club | Adventures by Disney | World of Disney
Walt Disney Imagineering: Walt Disney Creative Entertainment