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Walt Disney Parks and Resorts, officially Walt Disney Parks and Resorts Worldwide, Inc. and informally known as Disney Parks, was one of The Walt Disney Company's four major business segments and a subsidiary. The company was responsible for the conception, building, and managing of Disney theme parks and vacation resorts, as well as a variety of family-oriented leisure enterprises. It was founded in 1971, following the opening of Magic Kingdom at Walt Disney World in Florida.
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