The Disney of Boca Raton - The 1984 Disney Hostile Takeover Attempt Part 3

The 1984 hostile takeover attempt of Walt Disney Productions was a growing threat. As it would turn out, the key player in Disney's plan to ward off corporate raider Saul Steinberg wasn't too far away. The Arvida Corporation was just over in their own real estate kingdom, Boca Raton.
New here? Be sure to subscribe!
🔷goo.gl/x17zTL
My Patreon!
❤ / robplays
My Disney History Book List!
📚www.robplays.c...
My Disney Podcast!
🎧ttapodcast.com
Follow me on Twitter!
📱 / robplays
Additional Sources
Taylor, John. Storming the Magic Kingdom: Wall Street, The Raiders, and the Battle for Disney. Ballantine Books, 1988.
Stewart, James B. Disney WarW. Simon & Schuster Paperbacks, 2006.
“Arvida being cut loose”, Fort Lauderdale News, 19 Dec 1983, p9
“Management buys back Arvida”, The Miami Herald, 28 Oct 1983, p E1
“They called in the Texans, risked every cent, then won”, The Miami Herald, 28 Nov 1983, p7
“Pennsy Railroad Buys Arvida”, The Miami Herald, 27 Jul 1965, p1
“A Banker, A Railroad Alter Arvida’s Course”, The Miami Herald, 24 Oct 1965, p10B
“25th year will mean challenge”, The Miami Herald, 06 Jan 1984, p2BE
“Disney acquires Arvida for $200 million in stock”, South Florida Sun Sentinel, 18 May 1984, p1
“Arvida has growing Central Florida stake”, The Orlando Sentinel, 18 May 1984, pA9
“Disney plans to buy big development firm”, The Orlando Sentinel, 18 May 1984, pA1
“A new owner, but same old history for Arvida”, South Florida Sun Sentinel, 04 May 1987, p8
“St. Joe and Arvida: Putting the pieces together”, The Palm Beach Post, 03 May 1998, p1F
“Turbulent history makes way for solid future”, The Palm Beach Post, 03 May 1998, p1F
“Chief executive at Walt Disney resigns”, The Journal Herald, 08 Sep 1984, p12
“Disney takeover threat ends”, The Dispatch (Moline, Illinois), 05 Oct 1984, p30
“Saul P. Steinberg, Icon of the Corporate Takeover, Dies at 73.” The New York Times, 11 Dec. 2012
"Bass family buys more of Texaco; Getty deal delayed" Chicago Tribune, Jan 20 1984
"Arvida: a timely acquisition for Walt Disney Productions" Fort Lauderdale News, Jul 9 1984
"Steinberg Will Seek To Oust Disney Board" St Louis Post Dispatch, May 30 1984
"NYC-Pennsylvania Railroad Merger Given Approval", The Daily Reporter, Jan 15 1968
"NY financier 'turns up heat' on Disney" The San Francisco Examiner, Apr 27 1984
"Disney buys Arvida to stop takeover" The Tampa Tribune, May 18 1984

[@redfive1300]

WHY MUST YOU END IT WITH A CLIFFHANGER?!! Eisner: _Hello There_

[@liamb.9964]

I thought at 6:44 the video was over. Glad i was wrong

[@Citriqq]

I've honestly never been this insanely interested in history. The writing of this is impeccable, I'm so thoroughly entertained and amazed. Great job!!

[@MattMcIrvin]

These arcane business maneuverings are an inherently dry subject, too, one that's hard to make engaging and comprehensible. Rob does a great job of it.

[@MattMcIrvin]

The idea of becoming a monster real-estate baron as a retirement hobby at age 91 is kind of mind-boggling. Some guys aren't satisfied with model train sets.

[@secondsein7749]

It's just like the start of the video, some people live to work. These people would find it wrong to not work even when they shouldn't have to anymore. Meanwhile those that work to live can be satisfied with train sets and the like. I know these types as I have both of them as my parents.

[@flashsurfing]

"This is all happening because my father didn't buy me a train set as a kid." -Warren Buffett, on his $26 Billion purchase of BNSF railroad, 2009

[@MattMcIrvin]

@@secondsein7749 I suppose it's the *type* of work that amazes me--but people get particular sorts of passions. My dad's thing is to provide free tech support for his whole town, which is basically a lower-pressure extension of what he used to do for a living. I suppose the same thing can happen with growing giant corporations.

[@secondsein7749]

@@MattMcIrvin not to mention that when you become good at your work, it tend to become one of your passion, especially if the work is a challenging one. Also, when you've become rich to a certain point, money has less value compare to other gains, such as legacy. This can be a bad thing if the person lose sight of what's important. An example would be JK Rowling who pretty much could just do nothing and live comfortably yet continue to mess with her own work so that her legacy could be seen as universally relevant (inclusive, diversity, etc etc). Arthur definitely is very good at his work and it is a very challenging one. Plus, at his age, he'd probably come to the realisation that his wealth isn't going to bring him more satisfaction than him doing what he does best; work.

[@benspellman1118]

ROB! You should do a vid on Disney Fireworks, it's right up your alley. How many do they use a day, week, month, year? Where do they get them from? What's the price tag? Who sets them off?

[@jaredvititoe4815]

Support for Rob Plays (probably) does not come from the Arthur Vining Davis Foundations, but from Viewers Like You!

[@pollypocket2282]

Ha!! Born and raised in Boca, so funny seeing all the places I played, lived (and continue) to live in. I knew alllllll about ARVIDA and this one. A lot of old Boca families do.

[@FromtheHobbitHole]

Now we wait for Part 4....

[@adamchase3256]

I used to play drums for "Arvida and the Bass Brothers" in college.

[@JacobHillSBD]

As someone who lives in this area, this is an interesting episode for me!

[@BrendaKatz]

My grandma used to live in Boca Raton and I had no idea about any of this! it's incredibly interesting!

[@24FramesStudios]

As a big fan of investment info, corporate history and Disney I can´t help but absolutely love this video! Great work!

[@vireo2543]

That cliffhanger! Amazing video, I love learning about the ups and downs of Disney. It’s always been so interesting.

[@theforcer1762]

Was happy to meet you today at Runaway Railway breakdown!

[@Blaziken36]

I've lived in Boca Raton most of my life and I've never even heard about this until now

[@vitani_uk]

I am _really_ enjoying this series of videos, keep up the good work!

[@TheBaggadonuts]

I cant believe i never saw this until now. Ive been following for years i dont know how i missed this but its 2:44 am and I am glued.

[@elswick]

Hey Rob, Great, great series! How were you able to clear some of the footage used?

[@mousedaily4048]

Using footage in this way usually falls under ‘Fair Use’

[@liamb.9964]

I love the cartoon at 8:33

[@thethirteenthdoctor1716]

"There plan to scare away steinberg backfired on them in the worst way possible" Eisner and katzenberg be like allow us to introduce ourselves

[@starsparkle78]

you mean Wells and Eisner.

[@thethirteenthdoctor1716]

@@starsparkle78 who is Wells? i thought katzenberg worked for disney

[@starsparkle78]

@@thethirteenthdoctor1716 katzenberg did work for Disney but he wasn't brought on by the board. It was Eisner who brought him in. As to who Frank Wells is; he was Eisner right hand man (think of Walt Disney and Roy O. Disney work relationship) that would allow Eisner to focus on fun stuff while he focus on how to run the company as smooth as possable.

[@CharlieG407]

Your archival flim selection is on point

[@shadtaylor8489]

This is amazingly well done, I can’t wait for the next one!!

[@Taydar]

I am finding this very fascinating. Why nobody else has done a documentary on this topic I don't know.

[@SplinterGirl13]

We did a lot of case studies with disney properties during my MBA classes. Wish we had learned about this!!

[@foleybriand]

Haha awesome! I grew up in Orange Tree in Orlando!! I was wondering why Arvida sounded so familiar to me!!!

[@italiansunrunner]

That cliffganger man. Cant wait for the next video

[@jonathanvanboskerck2693]

Thanks. Your videos are always informative.

[@bballard65]

These episodes have been amazing! Love this multipart series, keep it up!

[@rosskrattermusic]

Great job as always, Rob! Can't wait for the next part!

[@maxcohen9639]

comment and like just for the algo. Thanks for the business history aspect of disney instead of the usual disney you tube channel ride/park history aspects.

[@WilliamSchmidNetwork]

I think this is the first time that my hometown of Pittsburgh was mentioned on this channel and it probably won’t be the last.

[@DSGIRL55]

Best mini series ever!!! Great job!

[@JimTomatore]

NOOOOO! I waiting until part 3 released so that I could binge watch, only to find out that the saga continues! I must know what happens!

[@coyoteartist]

Are you fluffing kidding me? Orange Tree? I grew up in Orange Tree. I'd be sitting on Saturday afternoon watching Dr. Who on PBS with the Arthur Vining Davis Foundation mentioned just about every show.

[@Gigabitz]

Rob, this series is incredible! The writing, the clips, the editing, the music - top notch!

[@Caleb-zt5ht]

You really know how to leave us begging for more Rob lol!

[@Tinkerbe11]

I read about the takeover, but either it was just a one-liner news message or it was some business mumbo-jumbo that I didn't understand. But you really make it comprehensible what took place at the time. Thank you, Rob!

[@Brydude87]

Once this is all finished, this should all be gathered into one video. Making this the best documentary

[@marriedGary]

More. We want more!

[@Caleb-zt5ht]

This is probably my fifth time watching this and it's still amazing!

[@coolness06]

This is getting so stressful!!!!

[@voicebox64]

5:11 Your granddaddy's version of the Bluetooth headset.

[@secondsein7749]

Never imagined that kind of thing would exist until this video lol.

[@GaryMeolaJr]

Once again learned something new about Disney I did not know. This channel always impresses me. Great work Rob !

[@MrAdoProductions]

I live right down the street from the Boca Resort/Beach Club! I often spend time out on the boat in and around Lake Boca. Awesome to see this video hitting so close to home 👍🏼

[@icecreamhero2375]

7:12 Alright Giggity

[@Dave-626]

Great series of vids ROB. Keep up the good work. So informative and entertaining. Thanks.

[@Fastpassfox]

Awesome series! I can't wait for more, and I hope these types of videos become a regular thing!

[@merimoon731]

Steal Stienburg looks so smug in very picture of him

[@nosoapradio963]

Wild, I go to school and work in Boca Raton and didn’t know about any of this. Thanks for the awesome history lesson Rob!

[@TheLaundryDay]

Great series

[@WooperTrooper4]

This has been a great series so far! Really enjoying it!

[@TweetsieRailroader]

3:52 Who knew that the Pennsy got into land development?

[@BillRich1277]

Rob these videos are AMAZING! Great work!!

[@MidwaytoMainStreet]

Thanks!

[@scottzalduondo1471]

I actually live in Boca and work for the Boca Resort!!!!!

[@k001daddy]

I love the way you weave a story!

[@ericstone8343]

Great work on this series so far!

[@ericlevitt3769]

Loving this series! Best work yet

[@lucylucina4253]

Next please. This is such an interesting series.

[@zachcasas]

I've really enjoyed this series. Great research.

[@ppl2luv]

keep up the amazing videos! i can never get enough of them. :)

[@billbandoh5818]

Great Channel.

[@sillygoose635]

Great job Rob!

[@corn0ffthecob]

Well, this is getting (even more) interesting 😲

[@solamente]

I love these documentary style videos you make. I wonder if Donald Bren is in any way tied to the history of Disney?

[@TylerRakstis]

Pretty interesting how the company Disney bought was owned by a man who would have a foundation named after him that I usually see as sponsors for PBS programs.

[@Sweet00thtkc]

I’ve enjoyed this series but this was one was a little rough. I’d guess it’s because it had a lot to do with non-Disney stuff but it just seemed to drag. Looking forward to the next one, though! 👍🏻

[@MAKAYLAANDMALACHI3966]

Did ye forget about that Dolphin and Swan Resort series?

[@MidwaytoMainStreet]

Nope!

[@UmmYeahOk]

Rob knows the answer, but agreed not to tell us. So the real question isn’t why is there not a light beacon, and a Part 2 video, the question is why is Rob being silenced? What is it that he knows?!?

[@ashleylane7774]

I got engaged at Disney and married at the Boca Resort. Ayeeee

[@drjny]

Couldn't Disney just block investors from overtaking the company?

[@MidwaytoMainStreet]

Nope. They had tactics, referenced in part two, to try and prevent it. However at the end of the day if public shareholders wanted to sell their shares in Disney and a corporate raider wanted to buy those shares, there's nothing really Disney could do about that. Today there are more measures in place to try and prevent a takeover like this, but back in the early 1980's it was a bit of a different story.

[@AliFinNoble]

Me sitting here in Boca not realizing that I was going to go to school today about where I live!

[@rmoran3778]

Boca Raton, birthplace of the personal computer; savior of the Walt Disney Company

[@chefboyardanny400]

YOOOO I LIVE IN BOCA

[@SaturnCanuck]

Wow. Now its getting intense. Will Disney survive? Let's find out on the next episode

[@Reubachi]

this series would have millions of views if it wasn't split up :/ for some reason the algorithm cannot suggest/recommend the proper sequence if you only delineate them in the title. (for example....part 2 is only ever recommended if I search for the entire name.)

[@FigmentForever]

First! Fantastic series thus far!

[@KASP112]

Paitcly waiting on part 4

[@fcontitwo]

⚡️It’s Only Money !!! 🥴

[@teddyfurstman1997]

I am Going to Disney World in October with Sprout.

[@stellasamazinglife]

영상 너무 이쁘게 잘 보고 갑니다! 배울점이 많네요. 구독하고 자주 찾아올께요~!

[@Locutus]

Good series, but how many episodes will there be????

[@MidwaytoMainStreet]

Five total

[@thewalkingdad68]

I'm just curious Rob. You've moved to the Orlando area, sometime under a year ago. But crazy enough you haven't posted any in-park footage in at least six months... what gives? Just seems a bit odd. Maybe too many other vloggers? Idk, but I don't expect you to answer my question, but wish you would.

[@MidwaytoMainStreet]

I use in-park B-Roll that I film when I cover more contemporary topics. For instance the video about the flags on Main Street or what the panels of Spaceship Earth are made of uses a lot of footage I went there to shoot specifically for the videos. But as for vlogs, those I've stopped doing. The main reason being that I wanted to put my efforts more on to history videos, which I found to be more fun as a format. Also in all honesty the vlogs were mainly just something I made for friends whenever I or we went on vacation that I just also happened to share on KZbin. Now that we live here, the parks really aren't "vacation" anymore and so much in the same way I never vlogged from NYC, I don't really vlog from here. I still love the parks and go often, but now I just go as a fan to enjoy it and look for inspiration for future history videos.

[@thewalkingdad68]

@@MidwaytoMainStreet thanks for the explanation. It makes sense...and totally understandable from a personal perspective. I will have to say, I have really enjoyed the series and I can honestly say it was outstanding. Worthy of a series on Disney+.

[@2kdegenerate708]

Rob you son of a bitch. I’m in.

[@ericwhitlock6599]

This is an AMAZING series Rob. Keep ‘em comin’

[@konnerdent4835]

Disney: “Arthur, do you want to sponsor Disney?” AVD: “Naw fam. I’m going to sponsor PBS with viewers like you. Thank You!”

[@XanderLovecraft]

You’re a great storyteller! I’m loving this series!

[@tcreinke]

This is an excellent series, keep up the great work.

[@cohenmarioman]

I live in Boca ...