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The Walt Disney Company, commonly known as Disney, is an American multinational mass media and entertainment conglomerate that is headquartered at the Walt Disney Studios complex in Burbank. Disney was founded on October 16, 1923, by brothers Walt Disney and Roy Disney as Disney Brothers Studio; it also operated under the names Walt Disney Studio and Walt Disney Productions before changing its name to the Walt Disney Company in 1986. After becoming a major success by the early 1940s, Disney diversified into live-action films, television, and theme parks in the 1950s. However, following Walt Disney's death in 1966, the company's profits, especially in the animation division, began to decline. In 1984, Disney's shareholders voted Michael Eisner as the head of the company, he led to the decline's reversal and the overwhelmingly successful period known as the Disney Renaissance from 1989 to 1999.
