Eric sat in the back row of the auction hall, quietly watching the teams of several major companies participating in the auction stand up.
The sudden announcement to extend the payment time for the purchase of the animation department is also the result of careful consideration by Firefly's top management.
At the beginning, in order to ensure that no Hollywood forces would come forward to make trouble in the process of winning Marvel, Eric hung up the "juicy cabbage" of the animation department for more than a month. During this month, he intends to win the animation department The buyer must have discussed and evaluated this business many times. The major film companies should have calmed down from their initial suspicion and excitement about Firefly's decision to sell the animation department, and determined the final deal in detail based on their own financial conditions. The upper limit of quotations cannot even rule out the possibility of forming a series among various companies.
Firefly suddenly announced that it would extend the one-year payment period to three years, leaving ample time for the final buyer to raise funds and pay, which can easily break the established bidding strategy of potential buyers. After all, Disney's animation department is too tempting for several major companies that want to enter the animated film market, especially now that the box office of "The Lion King" is rising steadily.
Of course, such a sudden attack with a very obvious intention will definitely be slandered by the buyer, but the temporary "preferential conditions" given by Firefly also give the buyer no reason to refuse.
The people in the hall were almost gone, and Katzenberg walked to the podium and sat down beside Eric, and asked excitedly and expectantly: "Eric, how much do you think you can take this time?"
Eric said: "It will definitely exceed 2 billion US dollars. A few days ago, the big-name stars unified boycott of studios to reduce their pay should bring them some touch and raise the price higher. After all, animated films are not only It can bring more income than live-action movies, and the characters in it will not ask for high remuneration like big-name stars, and it can also reduce their dependence on live-action movies.”
Frank Wells, who was sitting on the other side of Eric, also asked: "Eric, in this case, do you think it is possible to reach 3 billion?"
"That's unlikely," Eric shook his head. Although in my memory, the market value of Pixar animation in the original time and space rushed to 1 billion US dollars immediately after the success of "Toy Story", the technical differences between hand-drawn animation and computer animation also limit the value of Disney's animation department: "Unless we expand the The scope of the copyright authorization of several animations such as "The Lion King". Even the copyright is completely transferred, but Disneyland and the Disney store need the copyright of these animated characters, and it is impossible for us to do so."
Several people chatted casually, and the bidding team that had just left gradually returned to the hall, half an hour later. Katzenberg returned to the stage.
After speaking a few words to liven up the atmosphere, Katzenberg picked up the gavel and loudly announced the official start of the auction.
Afterwards, there was a moment of silence in the hall. It seemed that no one planned to make a move immediately. After a few seconds of stalemate, a middle-aged man sitting in the third row raised his number plate for the first time: "1 billion US dollars."
Eric looked over, and it was John Carley, the president of MGM, who raised the sign. He shook his head and smiled. He knew that MGM was here to join in the fun. certainly. John Carley must have had some unrealistic fantasies when he first raised his sign. For example, when other buyers were hesitant, the gavel in Katzenberg’s hand suddenly fell. Will happily snatch away the animation department with 1 billion US dollars. Even if MGM has not fully recovered, Eric believes that MGM shareholders and creditors will not be stingy with the 1 billion US dollars.
The reality, of course, is that this is impossible.
"Number 9, $1 billion..."
Katzenberg gestured in the direction of John Carley, before he had time to say more. Another bidder had already raised his placard: "1 billion 10 million."
The minimum markup for this auction was $10 million, and while the second bidder only cautiously added $10 million, the competition began to heat up. Auction prices began to surge all the way.
1.3 billion, 1.5 billion, 1.7 billion, 1.9 billion...
The auction lasted less than ten minutes. As Summer Redstone personally called out a price of 1.9 billion US dollars, more than half of the potential buyers in the auction hall have been eliminated, and only Paramount, Fox, Warner, and the Seagram Group, which is about to buy Universal.
After apparent hesitation on the price of $1.9 billion, Fox President Joe Ross raised the number plate in his hand: "$2 billion!"
"No. 4, from 20th Century Fox Film Company. US$2 billion," Katzenberg's voice rose again on the auction platform, full of delusion: "What I want to say is that just one piece of "The Lion King" can Bringing a net profit of 1 billion US dollars to the film company. Therefore, 2 billion US dollars only represents the net profit of the two "Lion King". It's only a matter of time before there's a second, third or even more 'The Lion King', so, $2 billion, the first time…”
Eric listened to Katzenberg's extravagant hype, and at the same time looked in the direction of the Fox team.
At Eric's suggestion, Elizabeth obviously did not participate in this matter, and Murdoch did not know why, and he also did not show up.
The only person leading Fox to the auction was President Joe Ross. Speaking of which, "Home Alone" in the original time and space was produced by Joe Ross and distributed by Fox. Joe Ross should have been hired to Disney with a high salary due to the excellent box office of "Home Alone", and in the original time and space Frank Wells Michael Ovitz briefly served as president of Disney before his unexpected death.
However, because of the appearance of Eric in this time and space, Joe Ross still maintains a cooperative relationship with Fox, and in the personnel changes after Barry Diller left Fox, he got the position of President of 20th Century Fox. As for the CEO of Fox by Rupert Murdoch himself.
Since Murdoch did not appear in person, it is almost certain that Fox will be out after Firefly suddenly played the card of extending the payment period. After all, compared to Summer Redstone’s radicalism, Murdoch is much more conservative, 2 billion Dollar is likely to be Fox's last bid.
After the price rose to US$2 billion, the frequency of off-stage bids was much slower, and in many cases, almost at the moment Katzenberg dropped the hammer. The voice of quotation will appear in the audience.
After several rounds of bidding, after Fox, Seagram CEO Edgar Bronfman also chose to be out at the price of 2.2 billion US dollars, and in the end there were only two competitions left. Paramount and Warner.
This result is not beyond Eric's expectations. Buying Universal is Seagram's first priority. If you get the Disney animation department at an exorbitant price before buying Universal, it will mean that Seagram Mu's acquisition of Universal's bargaining chips has been reduced. In case the animation department was acquired at a high price, it caused the failure of the acquisition of Universal. Then Edgar Bronfman was about to cry.
In the lobby, Time Warner CEO Terry Semel once again shouted a price of 2.33 billion US dollars, but Eric could tell that compared to Summer Redstone, who was still fighting high, Terry · Semel is not so full of air.
"It seems that the result is already obvious," Frank Wells whispered beside Eric.
Eric nodded lightly, listening to Summer Redstone quickly follow up with the offer, and said: "Compared to Summer Redstone, Terry Semel has been constrained too much. Time Warner Only people like Steve Ross can fully control it. Moreover, the current situation of Time Warner's internal hills is almost caused by Steve Ross. Unless there is another manager whom everyone expects, the future will be very long For a while, Time Warner was not very stable internally."
Frank Wells had worked at Time Warner for many years, and he nodded in agreement when he heard the words, but shook his head slightly, and said, "The kind of manager you mentioned is unlikely to appear at all. Warner Communications is now in the Time Warner system. The leaders of the major factions of the company, Turner Broadcasting Company, Time Publishing Group and Warner Bros. Entertainment are very strong in their respective fields, and they will not agree with a brand new manager at all. And they will not be willing to let the other party occupy Time Warner CEO Only a powerful figure like Steve Ross who created Time Warner would make them obey, but unfortunately, Ross passed away too early."
Steve Ross is in the same age group as Warren Buffett, Summer Redstone and Rupert Murdoch, all in their early sixties. Compared with a group of old men who are still alive and kicking twenty years later, Steve Ross, the media tycoon who founded Time Warner, died a bit early.
Eric glanced at Terry Semel, who fell into hesitation again following Summer Redstone's offer, and said, "If I were a shareholder of Time Warner, since everyone can't be tied together, I would rather choose Split up the group. Otherwise, this kind of long-term internal friction will only lead to the decline of Time Warner's overall strength."
In the memory of the previous life, Time Warner eventually went to the road of continuously splitting the business, but the time for this media giant to make such a decision was obviously too late. In the end, before Eric was reborn, he was originally on par with the Disney Group The market value of China's Time Warner is only about 50 billion, less than one-third of the peak period, while the market value of Disney Group in the same period was once close to 200 billion US dollars.
Frank Wells said regretfully: "Everyone now feels that the bigger the group, the better. It is not easy for Time Warner to coexist peacefully, but it is also not easy for them to part ways. Eric, if in the future Firefly is too bloated, would you be willing to split the group?"
Eric smiled and pointed to Katzenberg on the stage: "Isn't that what I'm doing now?"
Frank Wells nodded suddenly, and said, "I actually ignored this matter."
The two chatted in low voices, and the bidding in the arena entered the final stage. Eric obviously heard Terry Semel's almost trembling voice quoted a price of 2.41 billion US dollars, and looked up at Terry. Semel's back view.
Before Eric's gaze locked on Terry Semel could be turned away, he hesitated briefly, and Summer Redstone raised the number plate in his hand, and shouted angrily: "2.5 billion Dollar."
Terry Semel's shoulders visibly slumped.
Katzenberg on the stage said a few more bewitching words, and after counting three times, Terry Semel didn't raise his card again, so he dropped the gavel in his hand.
The knock sounded, and Katzenberg raised his voice: "Congratulations, Mr. Summer Redstone, Paramount Pictures will acquire the Disney animation department."
In the applause that gradually sounded, everyone in the venue stood up, and many people walked towards Summer Redstone and others.
Eric also walked over with Frank Wells and others, and enthusiastically said words of congratulations.
The follow-up formal signing will be carried out after Paramount confirms the detailed contract and the asset list of the animation department. Therefore, after holding a short press conference, Firefly hosted a banquet for all the guests participating in the auction in another hall of the Hilton Hotel.
After socializing around the venue with champagne each, Eric and Katzenberg came to a corner with few people together.
"The final price was at least 300 million U.S. dollars higher than we expected," Katzenberg said with excitement on his expression: "It seems that the measures adopted today to extend the payment period have really worked, from Terry Semel Judging from the reaction on the spot, Time Warner's original bid limit should be about 2.2 billion. After 2.2 billion, Terry Semel's expression is obviously not so calm, although Summer Redstone's reaction is not too much. Big change, but I guess his initial reserve price should be around 2.2 billion."
"Don't mention this," Eric said with a smile on the corner of his mouth, "How is the preparation of the new Disney animation department on your side? I haven't seen any relevant documents in the past few days?"
Katzenberg replied: "I plan to fund a digital animation production major at the California Institute of the Arts in Los Angeles and the San Francisco Art Institute in San Francisco. It is divided into a half-year short-term training course and a two-year standard professional course. Short-term training courses By poaching people from existing software or advertising companies, we mainly recruit digital animation personnel who have computer and painting skills and have accumulated working experience for professional software training, so that we can set up a new Disney animation department as soon as possible, but this The investment in this method is relatively large. For long-term considerations, we still have to rely on the training two years ago to continuously provide us with more professional digital animation talents. At present, I am asking the strategic planning department to make relevant budgets. By the end of the month, you will be able to I have seen related reports." (To be continued.)