Rule 424(b)(3)
                                                     Registration No. 33-62777

PRICING SUPPLEMENT NO.   7     dated           September 11, 1996 
          


                                  THE WALT DISNEY COMPANY


                                     Medium-Term Notes

This Pricing Supplement accompanies and supplements the Prospectus dated
March 7, 1996, as supplemented by the Prospectus Supplement, dated
March 7, 1996 (the "Prospectus Supplement").

The Notes have the following terms (as applicable):

Rate:    /X/ Fixed Rate    / / Floating Rate   / / Zero Coupon    / / Discount

Form:    /X/ Book-Entry    / / Definitive

Principal Amount:           $25,000,000
                          ---------------

Original Issue Price:       100%      CUSIP No:    25468PAG1    
                          -------                 ----------- 

Proceeds to the Company:    $24,968,750
                          --------------

Discount or Commission to Agents:   $31,250 
                                   ---------

Original Issue Discount:    N/A 
                          -------

Original Issue Date:        September 30, 1996   
                          ----------------------

Stated Maturity:            September 30, 2011   
                          ----------------------

Yield to Maturity:          N/A                   
                          ----------------------

Initial Maturity (for Renewable Notes):_______

Final Maturity (for Renewable Notes):________

Earliest Redemption Date:  September 30, 1999 or any Interest Payment Date
                           thereafter up to but not including the Maturity Date
                           (with at least 30 days' but no more than 60 days'
                           prior notice).
                           ----------------------------------------------------

Redemption Price:  The Notes are redeemable, in whole but not in part, at
                   100% of par amount plus accrued interest to the Redemption
                   Date.
                   ------------------------------------------------------------

Interest Rate Per Annum (for Fixed Rate Notes):   7.75%
                                                ---------

Interest Payment Dates:
     / /   Third Wednesday of each month
     / /   Third Wednesday of each March, June,
           September and December
     / /   Third Wednesday of each ________________
           and _________________
     / /   Third Wednesday of each ________________
     /X/   Other (specify):  Semiannually on March 30 and September 30,
                             commencing on March 30, 1997.
                             ------------------------------------------
Regular Record Dates: 
     /X/   Fifteenth day (whether or not a Business Day)
           immediately preceding the related Interest
           Payment Date
     / /   Other (specify)

Interest Payment Period:
     / /   Monthly
     / /   Quarterly
     /X/   Semiannually
     / /   Annually

Purchase of Notes at Option of Holder
Purchase               Purchase
Date(s):               Price(s):

Calculation Agent:   Citibank, N.A.
                    ----------------

Plan of Distribution:

         Goldman, Sachs & Co. has acted as principal with respect to the
         purchase of the Notes.