Walt Disney founded his namesake company in 1923, and since
then the business has gone on to become one of the most iconic brands on earth.
Today, Walt Disney (DIS) is a leading entertainment company with over $55
billion in revenue. The company is highly diversified and vertically
integrated, with four major business segments:
- Media Networks (41% of sales, 30% of profits): TV
programming (ABC TV and cable channels like A&E, History, Lifetime and ABC
Family, ESPN network), radio (radio Disney, ESPN radio network), eight
television stations. In total the company has about 100 Disney-branded
television channels, which are broadcast in 34 languages and 162 countries.
- Parks & Resorts (34% of sales, 34% of profits): owns
theme parks and resorts around the globe including Walt Disney World In
Florida, Disneyland in California, Disney Land Paris, Shanghai, and Hong Kong.
Also operates Disney Resort & Spa in Hawaii, the Disney Vacation Club,
Adventures by Disney, and the Disney Cruise Line.
- Studio Entertainment (16% of sales, 21% of profits):
produces live action and animated films under the Walt Disney Pictures, Walt
Disney Animation, Pixar, Marvel, and Lucasfilm (Star Wars, Indiana Jones)
studio banners. This segment’s profitability is volatile
Consumer Products & Interactive Media (9%
of sales, 15% of profits): licenses its trade names, characters, and visual and
literary properties, develops and publishes mobile games, and sells its
products through its own online stores and various retail outlets around the
globe.
In December of 2017, Disney announced it was buying the
majority of Twenty-First Century Fox (FOXA) in a $66 billion deal. Assuming the
deal closes, Disney will be getting all of Fox’s assets (film and TV studios,
cable networks, stakes in Hulu and other key assets) except for the Fox
Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1,
FS2, and the Big Ten Network.
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