It's not a shell game to avoid taxes (I'm a corporate attorney). It's a necessary, legally required business/accounting practice for entities with common ownership. Indeed, as opposed to being obfuscating, it actually provides a significant amount of clarity that benefits Disney, investors, regulators, and tax collectors.

It's not a shell game to avoid taxes (I'm a corporate attorney). It's a necessary, legally required business/accounting practice for entities with common ownership.