ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -On October 16, 1923, Walt Disney and his brother Roy found the Disney Brothers Cartoon Studio in Hollywood, California. The studio, now known as the Walt Disney Company, has had an oversized impact on the entertainment industry and is now one of the largest media companies in the world.

Detailed explanation-2: -Walt Disney arrived in California in the summer of 1923 with a lot of hopes but little else. He had made a cartoon in Kansas City about a little girl in a cartoon world, called Alice’s Wonderland, and he decided that he could use it as his “pilot” film to sell a series of these “Alice Comedies” to a distributor.

Detailed explanation-3: -Walt Disney began his career in animation with the Kansas City Film Ad Company in Missouri in 1920. In 1922 Disney and his friend Ub Iwerks, a gifted animator, founded the Laugh-O-gram Films studio in Kansas City and began producing a series of cartoons based on fables and fairy tales.

Detailed explanation-4: -Since Walt died in 1966, the Walt Disney Company is now owned by three primary shareholders: the descendants of Roy and Walt, and two companies – Berkshire Hathaway and Cadbury.