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Essay, 2 pages (350 words)

Help minimize financial risk

Florist’s Best Theme Park Universal Studios Orlando is one of, if not the best theme parks in all of Florida with the best attractions and fun for all ages. Universal Studios Orlando grand opening was in 1990, but that is not where it all began. Universal came a long way to actually reach that opening day, and it was a tough battle because Walt Disney World was Universals biggest rivals. The big dispute began over a cartoon character in 1920.

“ It is well known that Walt Disney inspiration for Mackey Mouse came when he lost the rights to his first creation, Oswald the Rabbit. What’s less known is who he ultimately lost those rights to – Universal Studios. Universal was the distributor for the ‘ Oswald the Rabbit’ shorts, and when they failed to agree to Walt Disney’s demands for more money, Walt walked away and universal had sole rights to Oswald” (Werner). Universal first opened in Hollywood California. “ The first incarnation of a Universal theme park happened in Hollywood, and was attached to the soundboards at the heart Of universals movie empire.

What once began as a simple backstage tour through the universal lot in 1962 eventually grew to come a full-fledged theme park” (Werner). The park in Hollywood California grew overtime and became more successful overtime. Due to the success, Universal started getting ideas. “ It was the success of that venture that inspired Universal to eventually invest the princely sum of $250 million in 1990 to launch an east coast version of its theme park – this one designed to challenge Disney head on” (Werner). Universal would not have been able to do this on their own, they needed some help for this project to become a huge success with minimal problems. Universal sought out a partner to help minimize its financial risk. One of the companies it approached was paramount studios, along with its most promising executives ? Michael Eisner” (Werner). Eisner did not accept the offer.

Instead Eisner went with Disney. Once Eisner took over the reins at Disney, he was determined to beat universal to the punch. Plans for the Disney-MGM Studios were hurriedly assembled, and despite Universals yearlong head start – the Disney MGM Studios opened before Universal was able to open its gates. How you ask?

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