Professor Carol Smith Passariello
Walt Disney: The soon-to-be Monopoly
The company’s name is based on Walter E. Disney who was born on December 5, 1901. When Walter Disney was 27 years old he created the iconic figure Mickey Mouse, one year later the Walt Disney Productions were formed. On 1940, the company decided to go public and offers stock due to the attempt to lower debt. Then in the year 1945, the board at Disney Production appointed Walter’s brother, Roy Disney as President of the company. On 1953, the Buena Vista Distribution company was created to distribute Disney Films. Disneyland is then released by the studio as Disney’s first television series on ABC a year later. The iconic amusement park, Disneyland was opened in 1955 in Anaheim, California, at the price of $17 million dollars where ABC studios had a partial stake in the park. However, around the year 1960 is when Disney decided to buy out the remaining stake ABC had in Disneyland. 6 years later, Walter E. Disney had passed away due to complications with lung cancer. Walt Disney World was then opened in Orlando, Florida, on 1974. The significance of the next event on the Disney Company’s timeline that occurs is due to it being the first worldwide expansion the company has made. On 1983, Tokyo Disneyland launched the Disney Channel making Disney’s debut on foreign television. The year of 1984 arrives, where Michael Eisner is appointed to be the CEO for Walt Disney Productions(name is later changed to Walt Disney Company). ABC then acquires the network ESPN in a deal with Getty oils the same year. On 1987, ESPN is given the NFL’s(national football league) first broadcasting deal. A year later, Disney would acquire film company Miramax Pictures. A power move was then made by Disney a few years later, where in 1996, Disney purchased Capital Cities/ABC Studios for $19 billion dollars becoming the largest media merger in history at that point. Disney Radio was also launched that same year. In 2001, News Corp would sell Fox Family Worldwide to Disney where the channel would later become ABC Family. One year later, ABC and ESPN announced they had acquired the television broadcasting rights to the NBA. Bob Iger then replaces Michael Eisner as CEO in 2005. Where Disney had then purchased the rights to Pixar Studios a year later.
The company’s headquarters is located at 500 South Buena Vista Street, Burbank, CA 9152, and divisions related to film/theater, music, television, radio, publishing, and parks & resorts. With Walt Disney Studios at Burbank, CA which is one of Disney’s major businesses also having 7 divisions and 4 subsidiaries under the studio. Majority being located at Burbank, CA while also having locations at San Francisco, Richmond, and NYC. Disney’s Music Group is a division of Walt Disney Studios and is also located in Burbank, CA. Disney’s television group includes ABC studios and Disney Television Animation, ABC studios distributes television...