Disney Founded in 1929 Disney primarily engages in child and adult entertainment. Starting with the production of animated motion-picture cartoons in the late 1940s Disney began to make also nature documentaries and live-action motion pictures, as well as short cartoons and live-action programs for television. In 1955 the company opened Disneyland, which was their first amusement park. Further openings of amusement parks in the U.S. and Europe followed. In 1996 Disney acquired Capital Cities/ABC Inc., which owned the ABC television network.

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Royalties Royalties refer to the payment made to the owners of certain types of rights by those who are permitted by the owners to exercise the rights. The rights concerned are literary, musical, and artistic copyright and patent rights in inventions and designs (as well as rights in mineral deposits, including oil and natural gas). The term originated from the fact that in Great Britain for centuries gold and silver mines were the property of the crown and such "royal" metals could be mined only if a payment ("royalty") were made to the crown.

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