In the aftermath of losing Oswald, Disney and his chief animator, Ub Iwerks, brought to life a replacement: Mickey Mouse. After a few silent films starring Mickey failed to sell, the team added synchronized sound and the legend of the famous mouse was born.
Although Disney issued over-the-counter stock (as Walt Disney Productions) in 1940, it was not until November 12, 1957 that Goldman Sachs co-led the Disney IPO at a share price of US$13.88 on the New York Stock Exchange. The timing seemed right as Disney had opened its groundbreaking theme park Disneyland in California just two years earlier.
This relationship continued into the twenty-first century as the firm has served as advisor to The Walt Disney Company on transactions such as the acquisition of Marvel Entertainment (2009), Lucasfilm Ltd. (2012) and Twenty-First Century Fox’s television and film studios, cable and international TV businesses (2018).
This article was originally published as part of a series commemorating the 150th anniversary of Goldman Sachs’ founding in 1869.
