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More info:
https://en.wikipedia.org/wiki/The_Walt_Disney_Company
In early 1923, Kansas City, Missouri, animator Walt Disney created a short film entitled Alice's Wonderland, which featured child actress Virginia Davis interacting with animated characters. After the bankruptcy in 1923 of his previous firm, Laugh-O-Gram Films,[ChWDC 1] Disney moved to Hollywood to join his brother, Roy O. Disney. Film distributor Margaret J. Winkler of M.J. Winkler Productions contacted Disney with plans to distribute a whole series of Alice Comedies purchased for $1,500 per reel with Disney as a production partner. Walt and Roy Disney formed Disney Brothers Cartoon Studio that same year.