Disneyland, Inc.: Difference between revisions
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'''Disneyland, Inc.''' was incorporated in the State of California on December 16, 1952. The company was initially a [[joint venture|jointly owned venture]] by [[Walt Disney Productions]], [[Western Publishing]], [[Walt Disney]] and the [[American Broadcasting Company]] to manage and |
'''Disneyland, Inc.''' was incorporated in the State of California on December 16, 1952. The company was initially a [[joint venture|jointly owned venture]] by [[Walt Disney Productions]], [[Western Publishing]], [[Walt Disney]] and the [[American Broadcasting Company]] to manage and build the [[Disneyland]] theme park in [[Anaheim, California]]. The investment pool consisted of 34.485% by ABC (US$500,000 investment), 34.48% by Walt Disney Productions (US$500,000 investment), 13.8% by Western Printing and Lithography Co (US$200,000 investment), 16.55% by Walt Disney (US$250,000 investment).<ref>[http://www.islandnet.com/~kpolsson/disland/index.htm Chronology of Disneyland Theme Park]</ref> |
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As a provision for the joint ownership, Walt Disney Productions had the option to repurchase the ABC share within 7 years. |
As a provision for the joint ownership, Walt Disney Productions had the option to repurchase the ABC share within 7 years. |
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Revision as of 03:33, 6 October 2014
Disneyland, Inc. was incorporated in the State of California on December 16, 1952. The company was initially a jointly owned venture by Walt Disney Productions, Western Publishing, Walt Disney and the American Broadcasting Company to manage and build the Disneyland theme park in Anaheim, California. The investment pool consisted of 34.485% by ABC (US$500,000 investment), 34.48% by Walt Disney Productions (US$500,000 investment), 13.8% by Western Printing and Lithography Co (US$200,000 investment), 16.55% by Walt Disney (US$250,000 investment).[1]
As a provision for the joint ownership, Walt Disney Productions had the option to repurchase the ABC share within 7 years.
By 1958, Walt Disney Productions reported a profit of $2.9 million, primarily attributable to its by then 65% interest in Disneyland, Inc. Additionally, Walt Disney Productions stock (which moved the year prior to the New York Stock Exchange) had grown to around $60 per share thanks to the growing realization by the financial markets of the profitability of the park.[2]
In 1960, Walt Disney Productions completed the repurchase of ABC's share of the company for nearly $7.5 million (earlier it had bought out Western Publishing and Walt Disney), and the theme park became a fully owned part of Walt Disney Productions. April 25, 1961 Walt Disney Productions reached a milestone as thanks to the windfall cashflow the park produced the company for the first time in its existence was able to pay off all existing loans.[3]
While upon acquisition the company was no longer needed and absorbed by WED Enterprises, it still remains a legal corporation.[4]
References
- ^ Chronology of Disneyland Theme Park
- ^ Walt Disney: The SIMPP Years
- ^ Chronology of the Walt Disney Company: 1961 retrieved on June 23, 2009
- ^ Secretary of State, California Corporation Status for Disney Incorporate retrieved on August 1, 2007
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