The Walt Disney Company and starred in several Disney produced films. Ub Iwerks refined Disney's initial design of Mickey Mouse. Disney's first sound film "Steamboat Willie", a cartoon starring Mickey, was released on November 18, 1928 through Pat Powers' distribution company. It was the first Mickey Mouse sound cartoon released, but the third to be created, behind "Plane Crazy" and "The Gallopin' Gaucho". "Steamboat Willie" was an immediate smash hit, and its initial success was attributed not just to Mickey's appeal as a character, but to the fact that it was the first cartoon to feature synchronized sound. Disney used Pat Powers' Cinephone system,
Criticism of The Walt Disney Company meeting, the banks capitulated to Disney's demands. The creditor banks bought US$500 million worth of "Euro Disney" shares, forgave 18 months of interest and deferred interest payments for three years. The Walt Disney Company invested US$750 million into "Euro Disney" and granted a five-year suspension of royalty payments. In June that same year, Saudi Arabian Prince Al-Waleed Bin Talal Bin Abdulaziz Al Saud cut a deal whereby The Walt Disney Company bought 51% of a new US$1.1 billion share issue, the rest being offered to existing shareholders at below-market rates, with the Prince buying any that were not taken up