Walt Disney, together with its subsidiaries, is an entertainment company with operations in two segments: Disney Media and Entertainment Distribution (DMED) and Disney Parks, Experiences and Products (DPEP). DMED encompasses Co.'s film and episodic television content production and distribution activities. Content is distributed by a single organization across three lines of business: Linear Networks, Direct-to-Consumer and Content Sales/Licensing. The operations of DPEP's lines of business are: Parks and Experiences, which consist of theme parks and resorts; and Consumer Products, which consist of licensing of its trade names, characters, visual, literary and other intellectual properties.