The Walt Disney Company and its subsidiaries is a diversified worldwide entertainment company. Its cable, satellite and international broadcast operations are principally involved in the distribution of television programming, the licensing of programming to domestic and international markets and investing in foreign television broadcasting, production and distribution entities. Disney's subsidiary ESPN, Inc. owns or has equity interests in or has distribution agreements with twenty nine international networks reaching households in more than 190ácountries and territories. ESPN also has an equity interest in ESPN STAR Sports, which delivers sports programming throughout most of Asia, and a majority ownership interest in ESPN Classic Europe which delivers classic sports programming throughout Europe. In each case, the company has a different approach to its broadcast and radio operations. Each of its cable, satellite and international broadcasting businesses approach different markets by ensuring that programming is in keeping with local tastes and societal norms, and that programming is presented in the dominant language spoken in each country into which it transmits or broadcasts programming (EDGAR).
According to the Walt Disney Company annual report published online, The Walt Disney Company manages and has ownership interests in the Disneyland Resort Paris in France. The Disneyland Resort Paris is a 4,800 acre development located about twenty miles east of Paris. The Disney Corporation also operates the Tokyo Disney Resort which is located on approximately 494 acres of land, six miles east of downtown Tokyo. The company also plans to operate Hong Kong Disneyland, which is under construction and scheduled to open in fiscal 2005. It would not be possible to successfully manage resorts in such diverse locations without an approach that recognizes, validates and values the differences in each country in which it operates th...