Bob Iger resigned as CEO of the company on February 25, 2020 and was replaced by Bob Chapek. He had been Chairman of Disney Parks.
Iger has been reassuming control of the company during the Coronavirus pandemic as all Disney parks have closed in the U.S. since late March.
In March, 2019, Disney acquired 21st Century Fox for $71 billion. The deal included 20th Century Fox movie and TV studios along with the FX Network, a 73% stake in National Geographic and 30% of Hulu.
Disney is divided into four major business segments: Studio Entertainment, Parks and Resorts, Consumer Products & nteractive Media and Media Networks.
The Walt Disney Studios distributes motion pictures, music and stage plays under four banners: Walt Disney Pictures, which includes Walt Disney Animation Studios and Pixar Animation Studios; Disneynature; Marvel; and Touchstone Pictures, which includes the distribution of live-action films from DreamWorks Studios. Original music and motion picture soundtracks are produced under Walt Disney Records and Hollywood Records, while Disney Theatrical Group produces and licenses live events, including Broadway theatrical productions, Disney on Ice and Disney LIVE!. Movie franchises include Star Wars, Frozen, Toy Story, Cars, IronMan, Pirates of the Caribbean and Sherlock Holmes.
Disney Parks and Resorts operates or licenses 11 theme parks on three continents, along with 43 resort hotels, four luxury cruise ships and a wide variety of other entertainment offerings. Disney Vacation Club has 11 properties with over 500,000 members. Disney's well-known resorts include Disneyland in Anaheim, CA and Walt Disney World in Orlando, FL.
The Media Networks segment encompasses a vast array of properties on the television, cable, radio and Internet landscape. The ABC Television Network includes ABC Entertainment, ABC Daytime, ABC News, ABC Sports, ABC Kids and the Disney-owned production company Touchstone Television. ABC Owned Television Stations operates 10 stations in top markets across the country, ABC Radio owns 72 stations nationwide, and the company's expansive radio offerings include Radio Disney, ESPN Radio and ABC News Radio.
Media Networks incorporates a suite of cable networks, including ESPN, Disney Channel, ABC Family, Toon Disney, and SOAPnet. ESPN is the world's leading cable sports company and includes 50 business entities and six U.S. cable networks: ESPN, ESPN2, ESPN Classic, ESPNEWS, ESPN Desportes and ESPNU. Disney also owns a 42.5% stake in A&E Networks.
For fiscal 2019, Disney reported revenues of $69.5 billion, a 17% increase, and net income of $10.4 billion. The Media Networks division generated $24.82 billion in revenue while the Parks and Resorts brought in $26.2 billion. Studio entertainment had $11.1 billion in revenue.
Disney launched a new streaming service called Disney+ in November 2019 that features the vast movie vault owned by the company including popular Star Wars, Marvel, Pixar and Disney films. The service costs $6.99 per month. The company said in April that Disney+ had over 50 million paying subscribers.
Brothers Walter and Roy Disney established the Disney Brothers studio in 1923 to develop cartoons. The first cartoon was known as Alice Comedies based on Alice in Wonderland. The company's name was changed to Walt Disney Productions in 1929.
Disney developed a new cartoon character in 1928 known as Mickey Mouse in the first cartoon with sound and dialogue. The cartoon movie, known as Steamboat Willie, became an immediate hit and Mickey Mouse remains an American icon today.
Walt Disney decided to build a theme park in Anaheim, CA for families which opened in 1955 and was called Disneyland. The park became a huge success and drew visitors from around the world.
In 1971, the company expanded to Florida and opened the Walt Disney World theme park in Orlando. The Disney World resort would add Epcot in 1982, Disney-MGM studios in 1989 and Animal Kingdom in 1998.
In 1983, the first international Disneyland park opened in Japan and EuroDisney opened in France in 1992.
Hong Kong Disneyland opened in September, 2005 at a cost of $3.5 billion.
Disney acquired Pixar Animation in 2006 for $7.4 billion in stock. Disney has been a long-time distribution partner for Pixar's hit movies including Toy Story, Finding Nemo and the Incredibles. Pixar and Apple CEO Steve Jobs, who passed away in 2011, was one of the company's largest shareholders.
In October 2007, Disney sold off its 50% stake in US Weekly magazine for $300 million.
In November 2007, the company sold its 39.5 percent ownership stake in E! Networks to Comcast for $1.23 billion.
The company acquired Marvel Entertainment at the end of 2009 for $4 billion.
Disney acquired Lucasfilm Ltd. in December 2012 for $4.06 billion in cash and stock. Owned by famed director George Lucas, the company is best known for the Star Wars movie franchise.
Shanghai Disneyland officially opened in June 2016.
Here are some of the benefits offered to Disney employees:
- Health, Dental, Life Insurance and more
Updated April 28, 2020