The Walt Disney Company, also known simply as Disney, is the largest media and entertainment conglomerate in the world. Founded on October 16, 1923 by brothers Walt Disney and Roy Disney as the Disney Brothers Cartoon Studio, the company was reincorporated as Walt Disney Productions in 1929. Walt Disney Productions established itself as a leader in the American animation industry before diversifying into live-action film production, television, and travel. Taking on its current name in 1986, The Walt Disney Company expanded its existing operations and also started divisions focused upon theatre, radio, publishing, and online media. In addition, it has created new divisions of the company in order to market more mature content than it typically associates with its flagship family-oriented brands.
HISTORY BEHIND THE INSTITUTION.
The company is best known for the products of its film studio, the Walt Disney Motion Pictures Group, today one of the largest and best-known studios in Hollywood. Disney also owns and operates the ABC broadcast television network; cable television networks such as DisneY Channel, ESPN, and ABC Family; publishing, merchandising, and theatre divisions; and owns and licenses 11 theme parks around the world. The company has been a component of the Dow Jones Industrial Average since May 6, 1991. An early and well-known cartoon creation of the company, Mickey Mouse, is the official mascot of The Walt Disney Company.
COMPANY DIVISIONS.
The Walt Disney Company operates as four primary divisions: The Walt Disney Studios or Studio Entertainment, which includes the company's film, recording label, and theatrical divisions; Parks and Resorts, featuring the company's theme parks, cruise line, and other travel-related assets; Disney Consumer Products, which produces toys, clothing, and other merchandising based upon Disney-owned properties, and Media Networks, which includes the company's television and Internet operations.
Its main entertainment features and holdings include Walt Disney Motion Pictures Group, Disney Music Group, Walt Disney Theatrical, Disney-ABC Television Group, Radio Disney, ESPN Inc., Disney Interactive Media Group, Disney Consumer Products, and Marvel Entertainment. Its resorts and diversified holdings include Walt Disney Parks and Resorts, Disneyland Resort, Walt Disney World Resort, Tokyo Disney Resort, Disneyland Paris, Euro Disney S.C.A., Hong Kong Disneyland Resort Disney Vacation Club, and Disney Cruise Line.
Its main entertainment features and holdings include Walt Disney Motion Pictures Group, Disney Music Group, Walt Disney Theatrical, Disney-ABC Television Group, Radio Disney, ESPN Inc., Disney Interactive Media Group, Disney Consumer Products, and Marvel Entertainment. Its resorts and diversified holdings include Walt Disney Parks and Resorts, Disneyland Resort, Walt Disney World Resort, Tokyo Disney Resort, Disneyland Paris, Euro Disney S.C.A., Hong Kong Disneyland Resort Disney Vacation Club, and Disney Cruise Line.
CONTROVERSY.
As a high-profile family-oriented company, Disney and its subsidiaries have been subject to 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)http://upload.wikimedia.org/wikipedia/en/1/1f/Lionkg2.jpg. Instances of sexual material hidden in some versions of The Rescuers (1977) http://upload.wikimedia.org/wikipedia/en/b/bf/Rescuers_Topless_Woman.jpg 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).
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, 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 produce their merchandise.
