Retlaw Enterprises
Retlaw Enterprises was a privately held Disney-family company that controlled Walt Disney's name rights, owned selected Disneyland attractions, and later operated television stations and real-estate assets.
Last updated August 25, 2026
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Overview
Retlaw Enterprises was a privately held company established by Walt Disney and ultimately owned by his heirs. Its origins lay in Walt Disney Miniature Railroad, formed in 1950 to manage Disney's Carolwood Pacific Railroad, a miniature railway on his residential property. The organization became Walt Disney, Inc. in December 1952 and then WED Enterprises in 1953, using Walt's initials—Walter Elias Disney. In these early forms, it served as a vehicle for Disney's personal business interests, including control of rights to his name and likeness and ownership of several attractions at Disneyland. The company became closely involved with the creation and operation of Disneyland. It owned or controlled the Disneyland Railroad, the Mark Twain Steamboat, the Viewliner Train of Tomorrow, and the Disneyland Monorail, while charging the wider Walt Disney company for access, licensing, and related arrangements. WED also contained the design and engineering organization responsible for Disneyland and many of its attractions. That creative and architectural operation became increasingly important to Walt Disney Productions, but its separate ownership generated concern from Walt's brother Roy O. Disney and from other shareholders, who viewed the structure as diverting income from the public Disney company to Walt Disney's family. The design division and the WED name were sold to Walt Disney Productions in 1965. The remaining corporation adopted the name Retlaw Enterprises, a reversal of “Walter.” Retlaw then moved beyond its original attraction and intellectual-property activities. It acquired television stations through Retlaw Broadcasting, accumulated interests in Disney live-action films, and held agricultural, undeveloped, and other real-estate assets. By the late twentieth century, broadcasting had become one of its most visible businesses, with stations affiliated primarily with CBS and operations spread across several United States markets. In 1982, the Disney family sold Retlaw's rights to the Walt Disney name and its rail-based Disneyland attractions to Walt Disney Productions in exchange for 818,461 shares of Disney stock. The transaction separated the family's remaining private holdings from the most recognizable Disney-related assets. Retlaw continued to own broadcasting and property interests, and its television subsidiary expanded through acquisitions during the 1980s and 1990s. In 1999, Retlaw sold its remaining eleven television stations and associated assets to Fisher Communications for $215 million in cash. The remaining divisions were formally incorporated into the Walt Disney Family Foundation in 2005. Retlaw therefore ceased to function as the diversified operating company described in earlier decades. Its historical importance rests on the unusual relationship between a founder's personal holding company and a large public entertainment corporation: it preserved Walt Disney's private control over his name and selected attractions, helped finance or own parts of the Disney entertainment portfolio, and later became a family-owned broadcasting and property enterprise.
History
Retlaw's history began with Walt Disney's personal interest in railways. In 1950, he created Walt Disney Miniature Railroad to manage the Carolwood Pacific Railroad, the elaborate miniature railway at his home. The company was renamed Walt Disney, Inc. on December 16, 1952. Although initially presented as a possible vehicle for television production, it soon became the corporate home for a Disneyland design and engineering effort. Disney assigned the company rights to his name and likeness and placed several Disneyland assets within it. These included the Disneyland Railroad, Mark Twain Steamboat, Viewliner Train of Tomorrow, and Disneyland Monorail. The arrangement allowed the company to receive licensing fees associated with Disney merchandising and to charge for the use of attractions and related rights. Roy O. Disney objected that the structure could transfer too much value from Walt Disney Productions to Walt's family. A shareholder, Clement Melancon, separately challenged the arrangement in court in 1953; the dispute was settled in January 1955. To reduce the association with a personal profit vehicle and to reflect the design group's role, the company changed its name to WED Enterprises in 1953. WED also pursued a proposed Zorro television project after Walt licensed television rights from Mitchell Gertz in February 1953. CBS and NBC requested pilot material, but construction of Disneyland took priority, and the rights were later sold to Walt Disney Productions. The WED design and architectural group opened a creative workshop at Grand Central Business Park in 1961. Its work became so important to Walt Disney Productions that the public Disney company purchased the design group and the WED name on February 5, 1965. The remaining family company was renamed Retlaw Enterprises, using “Walter” spelled backward. Retlaw diversified in 1968 by acquiring a Fresno television station. It also retained investment interests in a number of Disney live-action films and accumulated agricultural and undeveloped land, along with a small jet charter operation. The family's most consequential transaction occurred in 1982, when Retlaw sold the Walt Disney naming rights and rail-related Disneyland attractions to Walt Disney Productions for 818,461 shares of Disney stock. Roy E. Disney opposed the purchase price and voted against the transaction as a Disney director. After the sale, Retlaw's principal activities were broadcasting and property ownership. Retlaw Broadcasting expanded through station acquisitions. It bought KIMA-TV and the semi-satellites KLEW-TV and KEPR-TV in 1986, later acquired stations associated with KVAL-TV and KBOI-TV in 1996, and purchased WFXG in 1998. In November 1998, it agreed to sell all eleven remaining stations to Fisher Companies. Regulatory approval came in April 1999, and the transaction closed in July. The remaining Retlaw divisions were formally brought into the Walt Disney Family Foundation in 2005, ending the company's role as an independent family operating enterprise.
- 2005
Remaining divisions transferred to family foundation
[1]The remaining Retlaw divisions officially became part of the Walt Disney Family Foundation.
- 1999
Television assets sold
[1]Retlaw sold its remaining eleven television stations and related assets to Fisher Communications for $215 million in cash.
- 1998
Purchased WFXG
[1]WFXG became Retlaw Broadcasting's final station acquisition before the wider station sale agreement.
- 1996
Acquired Northwest Television stations
[1]Retlaw Broadcasting acquired KVAL-TV, its semi-satellites KCBY and KPIC, and KBOI-TV.
- 1986
Expanded Retlaw Broadcasting
[1]Retlaw Broadcasting acquired KIMA-TV and its two semi-satellite stations, KLEW-TV and KEPR-TV.
- 1982
Disney-related rights sold
[1]The Disney family exchanged Retlaw's naming rights and rail-based Disneyland attractions for 818,461 Disney shares.
- 1968
Entered television broadcasting
[1]Retlaw acquired its first television station, located in Fresno.
- 1965
Design division sold to Walt Disney Productions
[1]Walt Disney Productions purchased the WED name and the design and architectural operation.
- 1961
Creative workshop opened
[1]The theme-park design group opened a creative workshop at Grand Central Business Park.
- 1953
Renamed WED Enterprises
[1]The company adopted WED, derived from Walter Elias Disney, amid concerns about its relationship with Walt Disney Productions.
Products and positioning
A Walt Disney family holding company combining intellectual-property rights, theme-park attraction ownership, media investments, broadcasting assets, and real estate.
Theme-park attraction · 1955
Disneyland Railroad
A railroad attraction at Disneyland that Retlaw owned or controlled during the company's period as Walt Disney's personal holding vehicle. Retlaw paid for attraction rights-of-way and employed attraction administrators before the asset was transferred to Walt Disney Productions in 1982.
Theme-park transportation attraction · 1959
Disneyland Monorail
A Disneyland transportation and sightseeing attraction held through Retlaw's Disney-related asset structure. Its rights were included in the 1982 transaction in which the Disney family sold the naming rights and rail-based attractions to Walt Disney Productions.
Theme-park attraction · 1955
Mark Twain Steamboat
A Disneyland riverboat attraction associated with Retlaw's original portfolio of personally owned or controlled Disneyland assets. The attraction rights were later transferred to Walt Disney Productions as part of the 1982 transaction.
Theme-park attraction · 1957
Viewliner Train of Tomorrow
A Disneyland rail attraction that Retlaw controlled through Walt Disney's personal company. The attraction was later defunct, while the related ownership rights were included among the Disney assets sold in 1982.
Television broadcasting · 1968
Retlaw Broadcasting television stations
A portfolio of United States television stations, principally affiliated with CBS, assembled through acquisitions from the late 1960s through the 1990s. The portfolio reached eleven stations before Retlaw sold the stations and related assets to Fisher Communications in 1999.
Film investment · 1960
Disney live-action film investments
Retlaw acquired minority interests in 26 Walt Disney Productions live-action films from the 1960s. The arrangement gave the family company participation in the financial returns from selected film projects rather than making Retlaw a conventional film studio.
Controversies
Brand decisions
1998
Agree to sell broadcasting portfolioM&ABackground
After building a portfolio of eleven television stations, Retlaw chose to exit station ownership.
Action taken
Retlaw agreed to sell all remaining television stations and related assets to Fisher Companies.
Aftermath
The FCC approved the transaction in April 1999, and the sale closed in July 1999.
Sale price. $215 million in cash (1998–1999)
1982
Transfer Disney naming rights and attractionsM&ABackground
Retlaw still controlled Walt Disney's naming rights and several rail-based Disneyland attractions, while Walt Disney Productions was the larger public Disney operating company.
Action taken
The Disney family sold the rights and attractions to Walt Disney Productions for 818,461 shares of Disney stock.
Aftermath
Retlaw received the stock-related consideration while retaining television and property holdings; Roy E. Disney opposed the valuation and voted against the purchase.
Consideration. 818,461 shares of Walt Disney Productions stock, reported at $42.6 million at the time (1982)
1965
Sell the WED design and architectural divisionM&ABackground
The theme-park design group had become integral to Walt Disney Productions' operations.
Action taken
Walt Disney Productions purchased the design group and the WED Enterprises name.
Aftermath
The remaining family company adopted the Retlaw Enterprises name and focused increasingly on broadcasting, investments, and property.
1953
Rename Walt Disney, Inc. as WED EnterprisesStrategyBackground
The company had become the vehicle for Disneyland design work and Walt Disney's personal rights, while Roy O. Disney and potential shareholders questioned its relationship with Walt Disney Productions.
Action taken
Walt Disney changed the corporate name to WED Enterprises, using his initials rather than his full name.
Aftermath
The WED design operation continued to develop Disneyland and was eventually sold to Walt Disney Productions in 1965.
Sources1 sources
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