The Walt Disney Company, commonly known as Walt Disney or simply Disney (), (common metonym: Mouse, also Mouse House) is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California. It is the world's largest independent media conglomerate in terms of revenue, ahead of NBCUniversal and WarnerMedia which are owned by telecommunications giants Comcast and AT&T respectively.The company was founded on October 16, 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.
Since the 1980s, Disney has created and acquired corporate divisions in order to market more mature content than is typically associated with its flagship family-oriented brands. The company is known for its film studio The Walt Disney Studios, which is one of the largest and best-known studios in American cinema. Disney's other main divisions are Walt Disney Parks, Experiences and Consumer Products, Disney Media Networks, and Walt Disney Direct-to-Consumer and International. Disney also owns and operates the ABC broadcast network; cable television networks such as Disney Channel, ESPN, A&E Networks, and Freeform; publishing, merchandising, music, and theater divisions; and Walt Disney Parks and Resorts, a group of 14 theme parks around the world. The company has been a component of the Dow Jones Industrial Average since 1991. Mickey Mouse was created in 1928 and is the signature mascot and emblem for Disney and one of the world's most recognizable characters.On December 14, 2017, Disney announced an agreement to acquire 21st Century Fox for $52 billion. The bid was later increased to $71 billion on June 20, 2018 in the wake of Comcast's $65 billion bid for Fox. The acquisition will lead to the formation of a new company, which will keep the Walt Disney Company name.