I’m in Hollywood Chapter 427: Poison pill

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After the news that "Cutthroat Island" caused a huge loss of 100 million 20 million USD, although the Disney's loss was only more than 70 million, the impact was even stronger than the loss of 100 million USD through Disney last summer through multiple movies. In just three days, Disney's's stock price fell by 11%, and its market value quickly shrank from 3.8 billion USD before the release of "Cutthroat Island" to 3450 million.

newspaper media also produced a lot of discussions and reflections on the pros and cons of big production movies. A detailed comparative analysis of "Cutthroat Island" and "Terminator 2: Judgement Day" was made. One of the two movies failed Box Office and one won Success, the contrast is very sharp.

As the discussion progressed, it gradually involved films that have invested heavily in 50 million USD over the past two years. Of course, there is also an analysis of "Twister" being produced by Eric and "Hook" directed by Spielberg, because both of them It is Hollywood's most successful commercial Director in recent years, and the investment of these two films has also exceeded 70 million USD.

When Box Office was released on the first weekend of "Terminator 2: Judgement Day", Eric had already completed all the shoots work of "Twister". Seeing that "Cutthroat Island" Box Office actually exceeded 20 million, Eric was very disappointed. The "miracle" still did not happen.

However, he did not have much accidents. The status of the original independent Production Studio Carlock in the space and time was far from the Disney of one of the seven major parties. In addition, Carlock was suppressed by the seven joint forces, which led to the investment of "Cutthroat Island" 90 million. Only got the tragic situation of more than 9 million Box Office. Eric regrets that the loss of more than 20 million USD in this edition of "Cutthroat Island" 100 million is not entirely borne by Disney, otherwise, the next acquisition of Disney will be smoother.

After "Twister" filmed, Eric continued to spend a few days in Oklahoma to deal with some debris. Only returned to Los Angeles with several main creators.

In the distant Ponca City, Eric had already felt the public opinion storm caused by several movies in the media during the summer. The flight arrived at Los Angeles, Eric and Jeffrey, Joanna and others just walked out of the airport and were waiting for dozens A long time reporter was blocked at the entrance of the pick-up hall.

Looking at the frantically flashing camera flashes around and trying hard to reach your recorder across the bodyguard. Eric worried about the situation getting out of control and quickly pressed his hands and made a quiet gesture.

I was worried that Eric would leave and asked aloud. The group of journalists who were expecting a response quickly quieted down. Since Eric agreed to answer their questions, there is no need to do so.

"Everyone. I can stay and answer some questions, but after flying for a few hours, my companions are very tired. Can they let them leave first?"

Unexpectedly, Eric suddenly talked about this, and everyone looked at each other. Eric didn't mean to get an affirmative answer. He made a few gestures to Jeffrey and others, and then motioned his bodyguard to move away from the crowd. The reporters saw that Eric's footsteps didn't move.

After watching Jeffrey, Joanna and others boarded the roadside car, Eric clapped their hands: "So ..."

The reporters immediately remembered the messy voice again.

"Stop, come one by one," Eric said. Pointed to a female reporter wearing glasses in a small black suit: "This lady, please come first."

The female reporter was excited to take a step forward, but was blocked by the bodyguard. I had to say loudly across the wall: "Mr. Williams, the script of" Cutthroat Island "is rumored to be your first fancy. Do you have any thoughts about this bleak Box Office with over 100 million investment?"

Eric had thought about the response to this problem before coming back. Of course, he could not admit that this was a pit. So I heard the question from the female reporter. Eric showed a heavy look: "" Cutthroat Island "was originally a very good idea, I also thought of making this movie into a trilogy. It is a pity. Disney went astray in production ideas and ruined this promising Story. I can only say sorry about this. "

The voice of Eric has not been completely dropped. The female reporter immediately seized the opportunity and asked again: "Can you talk about your production ideas?"

"Sorry, it is not convenient for me to disclose this question, the next one, this gentleman."

The named reporter immediately said: "Mr. Williams, since you have already conceived" Cutthroat Island ", is it possible for you to remake this series?"

"The failure of this film has made the audience have a preconceived notion, let alone remake this film, maybe within ten years, I estimate that within ten years, no one will dare to make pirate films anymore. . "

"Do n’t you dare even you?"

Eric nodded: "Yes, I dare not. The failure of" Cutthroat Island "is too thorough, and it hits the island type movies too much. Although I am not afraid of failure, I do n’t want to experience failure so quickly. Next, you . "

A black-haired reporter stretched out the recorder on tiptoe and said: "Mr. Williams, it seems that you have already experienced failure. It is said that the" Hot Shots "series is an script that you personally selected and also participated in the investment."

Eric smiled at the corner of her mouth and explained: "" Hot Shots "first part script was actually selected by me personally, and also participated in some investments. But second part has nothing to do with me. I have n’t even seen script. You can investigate. "

"Did Miss Connelly show you script?" A thin reporter hurriedly interjected, and everyone's eyes lit up suddenly, looking forward to Eric's answer.

Eric certainly knows that this question is actually testing his relationship with Connelly. The smile on his face has not changed, but there is no extra words. He directly answered: "No, the next one, you come, This is the last question, I'm in a hurry. "

The reporter was about to speak. Hearing the original question from Eric, he swallowed back the original question and asked, "Mr. Williams," Toy Story "and" Terminator 2: Judgement Day "once again achieved such brilliant results. , Will you get Firefly listed? "

“No, Firefly ’s cash flow is very abundant, so no listing financing is required. And after the listing. In order to maintain the stock price, in order to maintain investor confidence, Firefly may have to make some radical violations of the company ’s development strategy. Decision-making, which is very unfavorable to the development of the company, so I still hope that Firefly can develop more freely in an environment that is not disturbed by external investors. "

After answering this question. Eric nodded to the crowd, then squeezed the crowd out under the guard of a bodyguard. Although there are not many questions answered by Eric, it is enough for these reporters to play a good report, so no one is trying to block it. Eric quickly left the Los Angeles airport.

"Trilogy, huh, huh. At this point, you still haven't missed the opportunity to add to the Michael Eisner," the next day, Chris Hansson from New York said that when he saw Eric. Reporters interviewed Eric yesterday.

Eric shook hands with Chris and walked side by side towards the Cliff Peak Manor villa. Said: "" Cutthroat Island "got 20 million USD Box Office, which is much more than I thought, and of course I have to take the opportunity to vent."

"Forty million yuan of investment in 100 million, I see the final Box Office of 20 million USD, and I feel a bit chilly on the body, you are too much."

"Unfortunately, the loss was partly borne by Robert Shay," the two said, and had entered the villa.

The glass curtain wall of Liberty City facing the sea, Chris sits on the sofa and looks at the small bar Eric not far away, making his own coffee. Say: "You are still alone, don't you feel that this villa is in space?"

Eric walked over with a coffee pot and poured coffee for the two. Say: "It's different habits, I prefer this feeling."

Chris took the coffee cup and looked at Eric and said, "I do n’t know if it ’s my illusion. Although I do n’t spend much time with you, I feel that you and the world around you are always separated by a film. You are very good at it. The ability to get along with people and treat people is far beyond your age. But you are always like a little oil in water, although the contact with water is very intimate. But you are not willing to melt in. "

Eric was stunned for a while, without refuting. Laughed: "Your intuition is really sharp."

I heard that Eric admits so lightly that Chris was a little surprised, but then said: "Eric, this is not a good phenomenon, and it may even lead to schizophrenia in the long run."

"Uh, are you studying finance?"

"I have taken psychology, and many students who study finance will choose psychology, so that they can analyze the opponents or customers they encounter more thoroughly."

"consider as finished, Chris, let's talk about business, rest assured, I will never get schizophrenic, but I don't know how to explain it to you."

Chris was stunned and said, "Okay, but Eric, you know, everyone cares about you. My father, me, and Drew, and ... your women, if you have anything in your heart If you want to talk, I believe any of us are very good listeners. "

How can my secrets be confided to others, even the small girl of Drew, Eric can't imagine what will happen if the girl learns his secret.

After Chris finished this sentence, he directly turned to the topic: "Okay, let ’s talk about the acquisition of Disney's."

As a result, Chris took out the information he brought with him and distributed it to Eric, saying, "Disney's latest stock market value today is 3430 million USD, and its debt is 20.700 million USD. So far, I have passed several companies and agents The merchant received a total of 11% of Disney shares, with a total expenditure of 3.7600 million USD, and Disney has only about 24% of the shares in the circulation market, so it can absorb a part of it next. Disney Board of Directors includes a total of 16 people in Michael Eisner, and Disney will be replaced by election every year Board of Directors members, if the takeover offer is rejected, we can get two Board of Directors seats through this year ’s transition and the subsequent absorption of Disney shares, so that we can intervene in Disney's management. "

Eric said: "Let's talk about the main obstacles to this acquisition, except for the problem of money."

Chris smiled: "This is also what I want to say the most. I was surprised by some of the information collected. After Disney experienced the malicious acquisition in 1984 and lost 300 million more than USD, there was no long memory. Not even the most common anti-purchase poison pill agreement. "

"Poison Pill?" Eric showed a puzzled expression.

Chris thought for a while, and then tried to explain it in simple terms: "The so-called poison pill is a pre-drafted stock expansion agreement that the target company has drafted in advance. Once the company encounters a malicious acquisition, the poison pill will be triggered. When the company ’s circulating stocks are acquired by a large number of opponents, the target company ’s shareholders can dilute the share of the competitor ’s stocks by issuing new shares. This method can increase the acquisition cost to a sky-high price, just like a Like poison pills, it deterred buyers who wanted to annex the target company. North America had at least 2,000 listed companies with poison pill agreements, and to my surprise, Disney did not. "

Eric listened to Chris's explanation and laughed: "All in all, this is good for us, isn't it?"

"Of course," Chris then released another page of information in his hand and said: "However, although the performance of Disney in these two years is relatively bleak," Cutthroat Island "has brought such a big loss, but Disney is Michael Eisner after all. Brought out of the quagmire, in the past seven years, Disney has doubled its market value in the hands of Michael Eisner. At least half of the shareholders still maintain confidence in Michael Eisner. So the biggest problem of our acquisition is still Disney existing Management. "

Eric certainly knows this. According to fragmentary memory, Disney shareholders and Michael Eisner had a huge disagreement should be after 1996, Michael Eisner arbitrarily annexed ABC TV Station, resulting in Disney's super high debt ratio and huge losses in the following years. Prior to this, although Michael Eisner had just stunned himself, even regarded Board of Directors as his own words, and also made a lot of private gains for himself through the compensation committee, but Disney has been booming and developing rapidly, so these issues have been tolerated by shareholders .

However, it is impossible for Eric to wait until 1996, when the market value of Disney is estimated to have multiplied several times, and it is even more difficult to acquire anymore.

Chris is not aware of Eric ’s mental activities and continues: “Once Disney agrees to acquire in good faith, many things will be much simpler, but I think Michael Eisner will definitely not agree. So the possibility of taking the second path is 70% Above, so, the most important thing for us now is to consider the problems that the second road may encounter. "(To be continued)