Walt Disney Company is famed for its creativity, strong global brand, and uncanny ability to take service and experience businesses to a higher level. In the $1970$s$,$ the company realized nearly $90$ percent of its revenues from its cartoons and the Disneyland theme park in Anaheim, CA$.$ By the beginning of the twenty$-$first century, Disney had not only opened up more parks and ramped up its output of animated films, it had also diversified into many businesses well beyond its traditional core of high$-$quality cartoon animation and theme parks. For instance, the Disney empire diversified vertically and horizontally into retail $($The Disney Store, since licensed to The Children's Place$),$ cruise lines, theaters, motels, and the Disney Press. It also moved into new product offerings such as sports franchises, TV networks $($ABC and ESPN$)$ and stations, Miramax, Broadway shows $($Beauty and the Beast$),$ and vacation clubs. International growth included EuroDisney and Hong Kong Disney and new releases of TV shows, videos, and movies worldwide. Indeed, while many of Disney's businesses had some tie to Mickey Mouse, only about $28$ percent of total revenues now came directly from its parks.

$2.$ What level and type of diversification best characterized Disney in the $1970$s$?$ Explain