1923 – The Walt Disney Company is founded
The Walt Disney Company, commonly known as Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.
Disney was originally founded on October 16th, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Cartoon Studio; it also operated under the names The Walt Disney Studio and Walt Disney Productions before officially changing its name to The Walt Disney Company in 1986.
The company established itself as a leader in the American animation industry before diversifying into live-action film production, television, and theme parks.
In 1928, to recover from the losses from failed ventures, Disney came up with the idea of a mouse character named Mortimer while on a train headed to California, drawing up a few simple drawings. The mouse was later renamed Mickey Mouse.
Extra Note: Due to the closure of Disney parks during the COVID-19 pandemic, Disney experienced a 63 percent drop in earnings for the fiscal second quarter of 2020, resulting in a loss of $1.4 billion for the company.
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