The year was 1927 and Oswald the Lucky Rabbit makes his debut in the cartoon Trolley Trouble. Walt Disney and Ub Iwerks created Oswald at the request of Carl Laemmle founder of Universal Pictures. The cartoon was wildly popular and started to appear on many things. When Walt went to resign contract with Oswald he realized that he actually gave the rights away to Oswald in his contract.
Company legend dictates that after this Walt Disney promised himself that he would never again sign the rights to a cartoon over to anyone else again. While doing so, he came up with the first sketches of a little rodent named Mortimer. You might know him better as Mickey Mouse.
"In a complex deal with NBC Universal, The Walt Disney Company regained rights to Oswald and other concessions in a transaction that permits sports commentator Al Michaels to contract with NBC."
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