DISNEY WALT CO
8-K, 1995-12-01
MISCELLANEOUS AMUSEMENT & RECREATION
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549


                                   ----------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                DATE OF REPORT (DATE OF EARLIER EVENT REPORTED):

                                DECEMBER 1, 1995


                             THE WALT DISNEY COMPANY
                                 DC HOLDCO, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

                                    DELAWARE
                                    DELAWARE
                    (STATE OR JURISDICTION OF INCORPORATION)



     1-4083                                         95-0684440
    33-62777                                        95-4545390
(COMMISSION FILE NUMBER)                     (IRS EMPLOYER IDENTIFICATION NO.)

             500 SOUTH BUENA VISTA STREET, BURBANK, CALIFORNIA 91521
             (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)     (ZIP CODE)


                                 (818) 560-1000
                         (REGISTRANT'S TELEPHONE NUMBER)

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ITEM 5. OTHER EVENTS


          On November 30, 1995, the Securities and Exchange Commission declared
effective the Registration Statement on Form S-3 (No. 33-62777) of The Walt
Disney Company and DC Holdco, Inc. (collectively, the "Company"), permitting the
Company to issue an aggregate of $5,000,000,000 of debt securities, preferred
stock and warrants.


ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS


               (c)  Exhibit 23.3 Consent of Independent Auditors (Ernst &
                    Young LLP)



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                                   SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.



                                        THE WALT DISNEY COMPANY




Date:  December 1, 1995                 By: /s/ David K. Thompson
                                           ----------------------------
                                           David K. Thompson
                                           Senior Vice President - Assistant
                                             General Counsel


                                        DC HOLDCO, INC.


Date:  December 1, 1995                 By: /s/ David K. Thompson
                                           -----------------------------
                                           David K. Thompson
                                           Senior Vice President - Assistant
                                             General Counsel






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                                                                    EXHIBIT 23.3

                        CONSENT OF INDEPENDENT AUDITORS

    We  consent to  the reference  to our  firm under  the caption  "Experts" in
Amendment No.  3 to  the Registration  Statement (Form  S-3 No.  62777) and  the
related  Prospectus of The  Walt Disney Company  and DC Holdco,  Inc. and to the
incorporation by reference therein of our  reports dated February 28, 1995  with
respect  to  the  consolidated  financial  statements  and  schedule  of Capital
Cities/ABC, Inc. included in its Annual Report and Form 10-K for the year  ended
December 31, 1994, filed with the Securities and Exchange Commission.

                                          ERNST & YOUNG LLP

New York, New York
November 27, 1995


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