Today In Disney History ~ November 12th
“Thirty four years after its start, in 1957, the company went public in an IPO. The shares were sold to new investors who wanted an ownership stake in the animation firm at $13.88 each. The business was called Walt Disney Productions and had been used as a way to consolidate several other businesses that Walt had setup over the years under a single umbrella. WDP had been trading over-the-counter as a closely held, private company for years, and had even tapped the capital markets before when it issued 155,000 shares of 6% cumulative convertible preferred stock in the OTC market on April 2nd, 1940. The firm didn’t change its name to The Walt Disney Company until 1986, when the Board of Directors decided it wanted to honor the founder and reflect that the business was more than a movie studio, having expanded into television, theme parks, radio, and more.”
TMSM Today in Graphic by Sherry Rinaldi DeHartv; www.joshuakennon.com/walt-disney-ipo
Michele also contributes theme park news for Fox 35 Orlando 11pm news and on the radio on WDBO.
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