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The Walt Disney Company, commonly known as Walt Disney or simply Disney (), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California. It is the world's largest independent media conglomerate in terms of revenue, ahead of NBCUniversal and WarnerMedia which are owned by telecommunications giants Comcast and AT&T respectively.The company was founded on October 16, 1923 by brothers Walt and Roy O. Disney as the Disney Brothers Cartoon Studio; it also operated under the names The Walt Disney Studio and Walt Disney Productions before officially changing its name to The Walt Disney Company in 1986. The company established itself as a leader in the American animation industry before diversifying into live-action film production, television, and theme parks.