When lung cancer killed Walt Elias Disney a decade ago, there were fears that the world of Disney would lose some of its wonder-and its profits. But before his own death in 1971, Roy Disney, who succeeded his younger brother, and a cadre of post -Walt executives had turned Walt Disney Productions into a thriving empire of fantasy. Today the company is bigger and richer than ever. Profits flow in from Disney's two successful theme parks, Disneyland in California and the magic kingdom at Walt Disney World in Florida, from film rentals and television, from re-releases of such longtime favorites as Bambi, Pinocchio and Fantasia, and from sales of record albums. Mickey Mouse wristwatches and everything else bearing the Disney stamp.
Last year the various forms of escapism earned Disney nearly $62 million on sales of $520 million-four times the total in 1966 when Walt died. For the first nine months of its current fiscal year, Disney was flying higher than Dumbo the elephant. Corporate profits were up 30%, and sales rose 16%. More than million people flocked to Disneyland (which turned 21 in July), another 9 million to Disney World. The fifth re-release of the animated Snow White and the Seven Dwarfs, which came out in 1937, will gross an estimated $10 million in the U.S. alone by the end of this year.
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