Chapter 646: SEC's bad habits

After returning from nothing in the world, Ron Perelman ate a closed door at Warner, because Warner Ceo Terry Semel had trouble getting around and had no time to deal with Ron Perelman. ≤,
With the continuous outbreak of a number of large-scale production box office, the total number of 14-year summer box office in North America in 1994 is expected to exceed the $2 billion mark for the first time. In addition to the dazzling firefly film industry, Global, Paramount and even MGM, who has been silent for many years, have obtained a good 'harvest' in this summer file, only a few years ago, they are still in the first position of market share. Warner, performance can only be described as bleak.
On May 20th, as the summer movie, the western film "Gambling Horse Ma Huali" has a good reputation, but because of the late stage, it has been continuously squeezed by the "Mummy", "Save the Great Ryan" and "Real Lies". The pressure, the original box office of 100 million US dollars, is expected to only harvest less than 60 million US dollars. Immediately after the costly additional Western film "Law Enforcement" ended in a total of $25 million in total box office, although the "ultimate witness" box office issued at the end of July is expected to exceed the $100 million mark, the entire summer file, Time Warner’s cumulative box office is less than $200 million, and its market share will fall below 10% for the first time. Even in the last five years, the summer market share has fallen below 20% for the first time.
In the face of such a serious decline in performance, Terry Semel, who just sat on Time Warner's ceo, faced a joint martyrdom from shareholders and the board of directors. The competitors who fought for Time Warner's ceo position began to make a fuss. In this case, although Time Warner has enough strength to grab the Marvel from the fireflies, Terry Semel, who has become very cautious in order to maintain his position, simply does not dare to mix Marvel. The real money of the dollar can be flattened.
Subsequently, Ron Perelman’s request to meet with Paramount Cec Shirley Lansing did not receive a response. Three days passed quickly, when Ron Perelman was anxiously thinking about returning to New York. When the base camp is looking for support or trying to find out if the major movie companies closely related to the fireflies are interested in cooperating, a call from Viacom Group ceo Somer and Redstone will be given to Ron Perelman again. Brought hope.
Paramount headquarters in Melrose Avenue, Hollywood.
Ron Perelman saw both Samuel Redstone and Paramount Cec Shirley Lansing in an office.
After the chill, he sat down on the sofa in the reception area, and Ron Perelman had not had time to publish his prepared speech. Summerr Redstone said straightforwardly: "Ron, I have learned more about the recent events. You want to get the position of the Firefly Group director as a creditor, but you are in trouble because of Marvel's debt problem. Paramount Can help you solve this trouble. Everyone needs what you want, what do you think?"
Ron Perelman, who was still somewhat smug, suddenly had a bad feeling. After the fireflies expressed interest in Marvel, Ron Perelman had changed his original plan and wanted to rely on it. Creditors and Marvel owners have two chips. At the same time, they obtained the dual status of the directors and shareholders of the Firefly Group.
But for now, these powerful potential ‘collaborators’ seem to be willing to give him a choice.
Sure enough, Summer Reston did not wait for Ron Perelman to answer, and once again said: "Paramount can buy Marvel and take on all the debts of Marvel, then you can fight without any burden. What do you want, what do you think?"
After two consecutive encounters, Ron Perelman also gradually recognized some facts.
Since it is possible to make a billion-dollar net worth on Wall Street, Ron Perelman certainly does not lack the decisive side of the winner and quickly weighs it. Ron Perelman found that giving up the baggage of Marvel, the Firefly had no need to smash his chips, and with the support of the Firefly Credit Union and the Disney Animation Department, he still had a good chance of gaining the position of Firefly Director.
North America and even the world's number one media group director seats and the bankrupt comic company's major shareholder identity, how to choose between the two, almost fools can see.
Ron Perelman quickly made a decision and said: "Mr. Lei Shidong, don't know how much Paramount intends to bid?"
Summer. Reishi host: "100 million dollars."
Ron Perelman heard the offer and almost jumped up.
One hundred million dollars. Are you kidding?
Six years ago, when Ron Perelman bought Marvel, he spent 80 million. In the past few years, in order to give investors an illusion of rapid expansion of Marvel in order to issue bonds, Marvel has successively acquired several companies. Animation company and toy company. These expenditures add up to more than $100 million.
Although Marvel now faces the dilemma of falling stock prices and debt crises, the actual net asset value is still more than $100 million.
The price tag of Summer. Redstone is almost the same as the robbery.
Forcing the impulse to slam the door, Ron Perelman said with a slight whisper: "Mr. Lei Shidong, don't you think this price is too insincere?"
Lei Shidong did not notice the change of Ron Perelman's expression. He still said with a strong attitude: "This price is very reasonable, although Marvel's current market value is indeed higher than this. But Viacom buys After Marvel, once Marvel did not show its worth, Viacom had to bear more than $500 million in additional debt, which is a very risky deal."
Ron Perelman retorted: "Eric Williams has spent nearly $500 million in cash to get Marvel. Doesn't this mean the value of Marvel?"
Lei Shidong sneered: "I only know that once the fireflies control the Marvel, then the debt financing that you swallowed from Marvel will have to be spit out, and will also face the investigation of the color c (Federal Securities and Exchange Commission). Marvel sold to Viacom, I can guarantee that I will not pursue this matter."
Ron Perelman was silent, and he was most worried about this matter. Color C had the same 'bad fault' as the US Internal Revenue Service. Once a company was found to have problems in a transaction, Will take the opportunity to investigate all similar transactions in this company. Since Andrews Holdings has been able to use hundreds of millions of dollars in the use of Marvel, the inside story of those transactions can be imagined. After all, Ron Perelman is not likely to get the richness of his current body without taking advantage of these unspeakable means.
A few minutes later, Ron Perelman said: "I need to think about it."
Lei Shidong nodded. Road: "Of course no problem, Viacom has enough patience, but your opponents are the big companies such as Firefly Group, Berkshire Hathaway and State Street Global Fund, they will not give you too much time.

Ron Perelman replied coldly: "These don't need Mr. Lei Shidong to remind me."
Leaving Paramount's office building. Ron Perelman stood in the bright sunshine of Los Angeles in the morning of August, but felt a little chilly. He suddenly missed Wall Street in the 1980s. At that time, De Chong Securities was still in full swing, and malicious mergers and acquisitions were in full swing. He could use the junk bonds to obtain inexhaustible funds for siege. But all this disappeared in the late 1980s with a stock market crash. De Chong Securities collapsed, the junk bond market collapsed, and his rapid expansion of the business also came to an abrupt end. Even those super-big business leaders, who heard his name should be scolded for three points, but now they have to be continually being hateful. The Hollywood head snake ignores or taunts.
Recalling the golden age of the past, Ron Perelman quickly decided to return to New York and return to Wall Street. Perhaps Wall Street is more greedy than these Hollywood head snakes, but at least, there is his territory. On his stage, he can also use the rules more skillfully.
In the office building of Paramount, standing in the office floor window, watching Ron Perelman hurried away, Shirley Lansing couldn't help but ask Lei Shidong: "You think he will sell the Marvel." Give us?"
Lei Shidong looked at the far-reaching luxury car downstairs and said: "It's hard to say, but if you can get it, it will play an important role in Viacom's next development."
Shirley Lansing echoed a slight nod, and Viacom held a meeting dedicated to Marvel.
Marvel's current structure is like a mini Disney. Although it is very compact, the system includes a variety of departments such as movies, TV, music, comics and toys around the needs of a comprehensive entertainment company. Viacom certainly does not see the film and television department that is completely out of the air. What they need is still the superhero copyright in Marvel's hands, but there is also a toy company in Marvel's hands. The hundreds of millions of dollars in stable profits that Disney stores around in the hands of fireflies are almost a sight to be seen by any Hollywood film company. Other major movie companies have never stopped trying to enter the business, and Viacom is certainly no exception, since the acquisition of the Pepsi video tape chain. Viacom’s executives came up with the idea of ​​using the Baishida retail distribution system to develop the perimeter of the Paramount Pictures movie.
However, the hardware conditions are available, but Viacom found that there are not many Paramount's hands in the development of high-quality movies in the vicinity, like the Jurassic Park, which has been filled with fireflies in recent years. Toy Story" These are very rich films that can be developed around.
Therefore, when the Marvel Entertainment was brought into Hollywood's field of vision with a series of topics surrounding fireflies, Viacom's executives immediately discovered the potential of Marvel. Marvel's popular comic characters and its toy companies can provide a wealth of content for Viacom's surrounding projects. Moreover, if you can use Marvel's superheroes to develop several movie series that rival Warner's "Batman", Viacom can easily get through the entire industry chain from movies to toys.
Lei Shidong stood silent for a while and asked suddenly: "Shirley, have you seen what the little guy is doing recently?"
Shirley Lansing shook her head: "If it were me, I would definitely try to stabilize Disney's animation department and then cope with the pressure from creditors. Fireflies have just merged with abc and still maintain a net of $657 million in the first half of the year. Profit. Look at the next, most of the summer file, autumn TV drama period and movie New Year file are concentrated in the second half, and the hot film in the summer file will bring explosive revenue at the end of the video tape and surrounding markets, fireflies in the second half The group's profits will be even more lucrative. With such a spur of the moment, fireflies now only need to stabilize the Disney animation department, there is no need to worry about the pressure of creditors, but Eric Williams did not do this at all, giving people the feeling that... ..."
When Lei Shidong followed Shirley Lansing, he said, "It’s like he doesn't care about Disney's animation department at all, right?"
Shirley Lansing nodded. "Although we all know that Firefly originally planned to turn Disney animation into 3D animation, after "Lion King", I believe that people who are slightly sensible will not continue to adhere to the original strategy.

Lei Shidong said: "If the little guy really doesn't care, we can grab the Disney animation department."
"I have let Peter try this, and I'm sure that other people have tried to dig people," Shirley Lansing replied. "But those in Disney's animation department don't seem to change jobs." Obviously, Disney's platform is more suitable for them."
"And now, the little guy suddenly pointed his finger at Marvel." Lei Shidong narrowed his eyes and suddenly had a thought in his heart: "Shirley, it is better to make a boldest assumption..."
Shirley Lansing looked puzzled at the old man beside him.
When Lei Shidong hesitated for a moment, he continued: "Assume that the little guy still doesn't care about the Disney animation department. What do you think he will do next?"
"This assumption is very unreasonable. No one in Hollywood would care about an animation department that can produce a profit of $1 billion." Shirley Lansing subconsciously rebutted, but then said: "If this is the case, fireflies Next, it is likely to give up the transformation of the Disney animation department and directly cut the entire department."
Lei Shidong’s eyes burst open and said:
Shirley, immediately contact the group’s finances. I want to know how much cash money Viacom has available now.

Shirley Lansing instantly understood the intention of Lei Shidong. If the very unreasonable assumption just came true, regardless of the reason why the fireflies were abolishing the Disney animation department, Viacom had enough The reason is to win it at all costs. A mature animation department will definitely play a role in Viacom's surrounding plans far beyond the mess that has not shown any potential. (To be continued.)