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During the late 1980s, Disney reinvented itself as
"the world's premier entertainment company". The huge popular success of its movies The Little Mermaid and The Lion King
encouraged the group to spread its wings into other areas; a key development was the takeover of Capital Cities/ABC to create one
of the world's biggest media conglomerates. But by the end of the 1990s a good deal of the shine had come off the company's
prestige as the house of mouse was rocked by a series of challenges ranging from management rows to lacklustre performance from
its core movies division and the ABC Television Network. Despite stronger performance in 2003, the
years of rumbling discontent culminated in a rift in the group's board, followed by an unexpected takeover bid from cable giant
Comcast. Peace was finally restored in 2005 when CEO Michael Eisner agreed to step down in favour of his deputy Bob Iger. However,
performance has continued to be mercurial, buffeted by recessionary forces, declines in DVD sales, and several under-performing
movie releases. Advertising Age estimated global measured advertising expenditure of $1.6bn in 2008, making Disney
the world's #20 advertiser.
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Competitors: see Media Sector Index for competitive companies
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Disney website
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Walt Disney international
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