The Walt Disney Company (NYSE: DIS) is one of the best-loved media and entertainment companies in the world. It operates a vast international entertainment empire including TV networks, film studios and theme parks. In 2016, Disney reported consolidated revenue of approximately $55.37 billion. As of November 2017, it has a market cap of roughly $161.09 billion.

Disney's three biggest business segments, including its TV business, its theme park business and its feature film business, accounted for roughly 90% of its revenue in 2017. These segments include some of the best-known companies in the United States and around the world, including ABC, ESPN, Disneyland, Lucasfilm and Marvel.

Reports surfaced in November 2017 that Disney was considering buying up the film and television assets from 21st Century Fox. While those initial talks appeared to cool out, the discussions resurfaced in December and appear to be gaining momentum, with CNBC reporting that a deal could be announced as early as next week, with Disney shelling out over $60 million. 

1. Disney/ABC Television Group

Disney/ABC Television Group operates Disney's broadcast television, cable television and radio businesses. Its broadcast TV businesses include ABC Studios, ABC News and the ABC Television Network, which combine to deliver programming to more than 200 local TV affiliates across the country. Disney/ABC Television Group also operates eight local television stations in some of the country's biggest media markets. On the cable side, Disney/ABC Television Group operates the ABC Family channel and Disney Channels Worldwide, a unit that includes more than 100 Disney-branded cable networks reaching 164 countries and territories around the world.

Disney/ABC Television Group also has equity stakes in three independently operated media businesses: A&E Television Networks, Hulu and Fusion Media Network. A&E Television Networks is an equally held joint venture with the Hearst Corporation. It operates a variety of cable channels, including A&E, History and Lifetime. Disney/ABC Television Group has a 30% stake in Hulu, an online streaming video service featuring ABC Studios content. Fusion is a multiplatform media company targeted at Hispanic Americans. It is an equally held joint venture with Univision Communications, an American media and broadcast company.

2. ESPN, Inc.

ESPN is a sports media and entertainment company with eight cable networks in the U.S. and another 16 TV networks abroad. Disney holds a controlling 80% stake in ESPN, while Hearst Corporation owns 20%. In addition to its TV properties, ESPN operates other related media businesses, including, ESPN Radio and WatchESPN. ESPN also holds a 30% stake in CTV Specialty Television, a multichannel Canadian sports broadcaster.

3. Walt Disney Parks & Resorts U.S., Inc.

Walt Disney Parks & Resorts U.S., Inc. operates Disneyland in California, Walt Disney World Resort in Florida and Aulani, a spa and resort in Hawaii. These operations include numerous company-owned hotels, retail and entertainment complexes, conference centers, and indoor and outdoor recreation facilities. Walt Disney Parks & Resorts also operates Disney theme parks overseas through a handful of international subsidiaries.

Disney Parks & Resorts' French subsidiary, Euro Disney S.A.S., owns 51% of Disneyland Paris. In China, Shanghai International Theme Park Co. controls 43% of Shanghai Disneyland Resort, which is slated to open at the end of 2015. Hong Kong Disneyland Management controls 48% of Hong Kong Disneyland Resort. While Walt Disney Parks & Resorts does not have an ownership stake in Japan's Tokyo Disney Resort, it does earn royalties from the Japanese operating company, Oriental Land Co.

4. Lucasfilm Ltd. LLC

Lucasfilm is a film production company best known for producing the Star Wars and Indiana Jones series, twp of the biggest-grossing film franchises in history. Disney acquired Lucasfilm in 2012. Its subsidiary media and production businesses include Industrial Light and Magic, Skywalker Sound, and Lucas Licensing. 

5. Marvel Entertainment, LLC

Marvel Entertainment is a media and entertainment company with operations in publishing, television and film. Marvel is best known for its catalog of fictional characters, including Spider-Man, Captain America and the X-Men. Disney acquired Marvel and the rights to its more than 5,000 characters in 2009. Marvel's blockbuster superhero films have gone on to be huge earners for Disney, giving the company high spots on the top 10 highest grossing movies of the year for several years now. Marvel Entertainment's subsidiaries include Marvel Studios, Marvel Animation and Marvel Comics.

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