<p>Who Owns Disney? Understanding the Complex Ownership Structure of One of the World's Largest Entertainment Companies</p>The History of Disney’s Ownership Structure
Disney was founded by Walt Disney and his brother Roy Disney in 1923 as a small animation studio in California. The company began with just a few employees and a single film, "Steamboat Willie," which introduced audiences to the iconic character of Mickey Mouse. In 1928, Disney released "Snow White and the Seven Dwarfs," which became the first feature-length animated film and a major success for the company.
During these early years, Disney was primarily owned by Walt Disney and his brother Roy Disney, who served as the company’s CEO and president, respectively. The two brothers shared an equal ownership stake in the company, with each owning 50%.
Expansion (1930s-1960s)
As Disney continued to grow, it began to diversify its operations beyond animation. In 1929, the company opened its first theme park, Disneyland, in California. This marked the beginning of a new era for Disney, as it expanded into live entertainment and merchandising.
Over the next several decades, Disney continued to grow, both organically and through acquisitions. In 1954, the company acquired 20th Century Fox, which brought it into the motion picture industry. In 1964, Disney opened its second theme park, DisneyWorld, in Florida.
During this period, Disney’s ownership structure remained relatively simple, with Walt Disney and his brother Roy Disney continuing to share equal ownership of the company. However, as the company grew, it began to bring on outside investors and partners, who helped to fund its expansion efforts.
The Walt Disney Company (1970s-Present)
In 1973, Walt Disney passed away, leaving his brother Roy Disney in charge of the company. Roy Disney continued to lead Disney until his death in 1979, at which point the company was restructured as a publicly traded corporation known as The Walt Disney Company.
Under this new structure, Disney became a publicly traded company with a board of directors and corporate officers. The company’s stock was listed on the New York Stock Exchange, allowing outside investors to purchase shares and participate in the company’s growth and success.
Since then, Disney has continued to expand its operations and diversify its revenue streams. In 1982, the company acquired ABC Television Network, which brought it into the television industry. In 1994, Disney bought out its partner in ESPN, giving it full control of one of the most successful sports channels in history.
Over the years, Disney has also made a number of high-profile acquisitions, including
Pixar Animation Studios
in 1986 and
Lucasfilm Ltd.
in 2012. These acquisitions have allowed Disney to further expand its operations and gain access to some of the most successful franchises in history, such as Star Wars and Toy Story.
The Current Ownership Structure of Disney
Today, The Walt Disney Company is a complex web of interrelated entities and partnerships, with ownership stakes held by a variety of individuals and organizations. Here is an overview of some of the key components of Disney’s current ownership structure:
The Walt Disney Company is the parent company that owns and operates all of Disney’s subsidiaries and divisions. It is headquartered in Burbank, California, and is listed on the New York Stock Exchange under the ticker symbol DIS.
As of 2021, The Walt Disney Company is owned by a variety of shareholders, including individuals, pension funds, and institutional investors. The company’s largest shareholder is Vanguard Group, which owns approximately 16% of the company’s outstanding shares. Other significant shareholders include BlackRock and State Street Corporation.
Disney Media Networks (DMN) is a subsidiary of The Walt Disney Company that oversees the company’s television and radio operations. DMN includes a variety of networks and properties, such as ABC, ESPN, Freeform, National Geographic Channel, and Disney Junior.
DMN is owned by The Walt Disney Company, which owns 100% of the subsidiary.
Walt Disney Pictures and Television (WDPP&T) is a subsidiary of The Walt Disney Company that produces and distributes films, television shows, and other content for Disney’s various networks and platforms. WDPP&T includes a variety of production companies and studios, such as
Pixar Animation Studios
, Marvel Studios, and
Lucasfilm Ltd.
.
WDPP&T is owned by The Walt Disney Company, which owns 100% of the subsidiary.
Disney Consumer Products, Games, and Publishing (DCPGP) is a subsidiary of The Walt Disney Company that produces and sells consumer products based on Disney’s franchises and brands. DCPGP includes a variety of product lines, such as toys, clothing, home goods, and books.
DCPGP is owned by The Walt Disney Company, which owns 100% of the subsidiary.
Disneyland Resort (DLR) is a subsidiary of The Walt Disney Company that operates two theme parks in California: Disneyland Park and Disney California Adventure Park.
DLR is owned by The Walt Disney Company, which owns 100% of the subsidiary.
Walt Disney Studios Motion Pictures (WDSMP) is a subsidiary of The Walt Disney Company that produces and distributes films under various banners, including Walt Disney Pictures, Pixar Animation Studios, Marvel Studios, Lucasfilm Ltd., and 20th Century Studios.
WDSMP is owned by The Walt Disney Company, which owns 100% of the subsidiary.
ESPN Inc. (ESPN) is a joint venture between The Walt Disney Company and Hearst Communications. Disney owns 80% of ESPN, while Hearst owns 20%. ESPN operates sports networks and produces sports-related content for various platforms.
Ownership Stakes and Shared Equity
The Walt Disney Company has a number of shared equity arrangements with other companies and organizations. These arrangements allow Disney to share in the profits and losses of its partners, while also giving it access to valuable resources and expertise.
Some examples of Disney’s shared equity arrangements include:
21st Century Fox: In 2019, The Walt Disney Company acquired a significant stake in 21st Century Fox, which includes the Fox film and television studios, as well as various other assets and properties. This acquisition was made through a combination of cash and stock, and gave Disney a controlling stake in the company.
ABC: The Walt Disney Company acquired a controlling stake in ABC in 1995, which includes the network’s television operations as well as various other assets and properties. This acquisition was made through a combination of cash and stock, and
