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Letter to Stockholders

The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments: Media Networks; Parks and Resorts; Studio Entertainment; and Consumer Products. The Walt Disney Company is the second largest media conglomerate in the world, behind Time Warner. Marketing writes that Disney ranks seventh among the world's most valuable brands (22). Disney owns the ABC television network in addition to ten broadcast television stations and more than seventy radio stations. It also has investments in several cable channels such as ESPN in which it holds 80% ownership, and A&E Television Networks in which it owns 38% of the outstanding common stock. Its Walt Disney Studios produces films through Walt Disney Pictures, Touchstone, Hollywood Pictures, and Miramax. Walt Disney Parks & Resorts, which includes Walt Disney World and Disneyland, owns some of the most popular resorts in North America. Walt Disney Internet Group oversees the Web entities ABC.com, Disney Online, and ESPN.com ("Reuters Abridged Business Summary" Online).

Selected financial information about The Walt Disney Company is presented below. This data was extracted from the documents found in the Appendix:

("United States Securities and Exchange Commission" Online).

Liquidity ratios indicate the ease of turning assets into cash. Liquidity refers a company's ability to meet current obligations with cash or other assets that can be quickly converted to cash. From the table shown above, we see that The Walt Disney Company's current ratio has weakened significantly over the last four fiscal years. The Current ratio is calculated as follows: Current assets divided by current liabilities = Current ratio. The Quick ratio formula is: (Current assets less inventories) divided by current liabilities. A review of the above table shows this company's quick ratio is strengthening ("Walt Disney Financial Con...

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Letter to Stockholders. (1969, December 31). In LotsofEssays.com. Retrieved 16:07, December 06, 2021, from https://www.lotsofessays.com/viewpaper/1698898.html