In 1954 one of Hollywood’s greatest artistic geniuses, Walt Disney, had a fantasy. Disney dreamed of building a giant amusement park unlike anything that existed in America. His chosen site was on 160 acres of farmland in Anaheim, an area southwest of Los Angeles settled by German immigrants.
The problem was how to find financing for his project. His brother Roy Disney didn’t support the idea and the banks scoffed at Disney’s projection of a million visitors a year going through the turnstiles of the Magic Kingdom. William Paley and David Sarnoff both turned him down because they imagined a park that looked something like the tawdry sideshows and daredevil rides at Coney Island.
Walt Disney turned in desperation to Leonard Goldenson (Founder of TV network ABC), who agreed to buy 35% of Disneyland for $500,000 and guaranteed the bank loans for several million more. In addition ABC got what they really wanted and desperately needed; the first crack at Disney movies and the rights to...
Made a payment, but can’t access the blog?
Please provide the requested details so we can update your subscription.