Walt Disney, the parent company of ABC7, made the half-million pledge during a live broadcast of ABC7's Philippine typhoon and flood relief drive.
The generous donation to the American Red Cross and Save the Children is for immediate humanitarian aid and recovery efforts, said company representative Joan McCarthy.
According to McCarthy, Disney employees are also pitching in to help.
"The Walt Disney Company Foundation is going to match dollar-for-dollar every contribution that they make," McCarthy said.
Throughout the day members of the ABC7 Eyewitness News team collected monetary donations at both the Honda Center in Anaheim and the Rose Bowl in Pasadena. Thank you to all our ABC7 viewers who came out to support the cause -- in total we raised more than $1.1 million.
Meanwhile, thousands in the Philippines are still struggling to survive with only minimal amounts of water, food and medical supplies.
Contributions can be still be made by mail and online -- Click here for details.