I’m in Hollywood

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Despite pressure from Firefly as a Disney shareholder, Disney management delayed a full week before releasing Disney's latest financial report to investors.

Because of the sluggish performance for two consecutive years, Michael Eisner did not release quarterly financial reports as usual, but spent a lot of space reviewing the overall development of Disney since Michael Eisner took office in 1984, and focused on describing 1990. The fact that Disney's market capitalization was growing at an annual rate of 27% before 2009 underlines that the failure of several films such as Cut Throat Island and last year's Rocketman was just an accident. In addition to the film division, Disney's broadcast and television business, theme parks And the resorts and consumer product development businesses are generating steady profits for the company, so the flop of a few movies won't hurt Disney.

At the end of the report, Michael Eisner confidently assured that Disney's film and television division would be reformed, and that the company would soon return to the speed of development a few years ago, calling on Disney shareholders to stand on their side and boycott Firefly. Evil yì acquisition.

Faced with Michael Eisner's attempts to downplay Disney's recent financial situation, Firefly quickly fought back, breaking the New York Post with an insider article on the making of Cutthroat Island .

...According to the staff of Cut Throat Island, during the production process of the film, from script modification to post-editing, Michael Eisner had to personally inquire about all the details, even the film's set style, actors and actresses. 's costume design needs to pass Michael Eisner's nod to pass.

It was Michael Eisner's arrogant intervention in the filming of Cutthroat Island that caused director Renee Haring to be unable to play his directorial concept. This ultimately led to the failure of Cutthroat Island.

Michael Eisner is a micromanager. This management style occurs in a situation where managers' desire for power inflates during the day. It will strongly limit the enthusiasm of the specific personnel in charge, which will lead to the truly talented people looking for another job, leaving the mediocre people who can only speculate on the minds of the superiors.

Without question, Michael Eisner made a huge contribution to the Disney company in the first few years, but as can be seen from the development of Disney in the last two years, Michael Eisner's headstrong management style has begun to Showing the drawbacks will cause incalculable losses to Disney in the long run.

After the article was published, Michael Eisner's agent responded immediately. Claiming that the New York Post report is a slander against Michael Eisner, Michael Eisner will sue for this slander.

There is a lot of buzz in the media, but the real battlefield is out of sight of the public.

Burbank Firefly HQ Conference Room,

Bernie Sanders, head of Morgan Stanley's acquisition team, is discussing specific acquisition strategies after Disney's board rejects a bona fide takeover.

In 1984, when Saul Steinberg took over Disney, Disney finally adopted the anti-takeover strategy of paying 'blackmail and ransom' and redeemed the value of Saul Steinberg's hands with a huge sum of 300 million US dollars. The stock is less than $200 million. But this time is different from the past. Disney shareholders obviously have a wait-and-see attitude towards Firefly's acquisition, so so far, most shareholders have only agreed to Michael Eisner's 'golden parachute' agreement. Because this agreement will not harm their interests. The agreement stipulates that once the acquisition is successful, if 76 Disney executives are forced to leave within two years, Firefly needs to pay a total of $500 million in compensation.”

Eric asked, What if I just want Michael Eisner to leave alone?

Bernie Sanders glanced at the information in his hand. Answered: Michael Eisner first proposed the scorched earth strategy. Any one of the 76 executives was fired. In retaliation, all the other 75 people resigned, turning Disney's management into a barren 'scorched earth'. . However, Disney's management did not agree with Michael Eisner's proposal, and the board of directors did not approve it. Therefore, if only Michael Eisner is allowed to leave, Firefly needs to pay Michael Eisner 30 million personally.

$30 million, so little? Eric couldn't help asking. He remembered that Michael Ovitz had only worked at Disney for more than a year in his previous life. When he was forced to leave the position of president, he took a full amount billions in compensation.

Chris, who was sitting next to Eric, rolled his eyes: Eric, Michael Eisner's current annual salary is $750,000, and $30 million is equivalent to Michael Eisner's 40-year annual salary. less?

Eric wondered: What about option incentives and profit dividends?

According to the agreement Michael Eisner signed with Disney in 1984, he will only receive option incentives and profit dividends based on performance after he has worked at Disney for five years. At the beginning of last year, Disney's board of directors officially approved the corresponding plan, Speaking of which, Chris seemed to gloat over his misfortune: But then Disney's performance took a turn for the worse. Last summer, several films caused a loss of up to 100 million US dollars. In 1990, Disney's other channel profits other than film distribution made up for this. In addition to some of the losses, there are also $150 million in debt and interest due, and in the end Disney can barely break even, and options and dividends are out of the question.”

After Chris finished speaking, Bernie Sanders added: But I want to remind you, Eric, out of the 75 executives other than Michael Eisner, 18 are with Michael Eisner. The relationship is very close, it can be said that he is his confidant, and the total compensation of these people accounts for 220 million US dollars.

Eric glanced at Michael Lynn, who was sitting not far away, without a trace. He didn't care too much. After the acquisition was completed, it would be good to see the performance of these people and make corresponding arrangements, just like the legacy of the new line. Most of the senior executives who came down have now become the backbone of Firefly, and no one will be unable to live with high salaries and benefits.

These things will be tested after the acquisition is completed. I still hope that the current management of Disney can be kept intact. Of course. Mr. Michael Eisner will definitely not stay in his original position.

Bernie Sanders nodded. He turned over the document in his hand and said, In addition, Eric, according to our team's assessment, the wholly-owned acquisition plan is not the best option, if only the controlling stake in Disney is obtained, with Firefly's excellent performance in movies , most Disney shareholders will be happy to sell some of their shares.

Eric shook his head and said, Bernie. I once said that I don't want the company's development to be interfered by external investors, and I hope Disney can be privatized to facilitate integration with Firefly.

Bernie Sanders just followed his professional ethics to provide Eric with more professional advice. Seeing that Eric was firm and did not persuade him, he continued to talk about other topics.

Immediately after this meeting, Firefly held a press conference, and Firefly Studios Michael Lynn made the first official offer to Disney. At the price of 20% premium of Disney's stock on the day of Firefly's public takeover offer, all the shares of Disney were wholly-owned.

Also at the Disney headquarters in Burbank. Michael Eisner sat on the executive chair in his office, looked at the Firefly's latest quotation materials just sent by his secretary, and said to Frank Wells on the other side: $4.2 billion, the first quotation is a premium of 20%. %, I don't know what the bottom line of Firefly will be.

Frank Wells looked at Michael Eisner's sunken eye sockets, and didn't know how to answer. Michael Eisner seemed to be talking to himself, not expecting an answer.

The week that Firefly made its takeover offer, Michael Eisner visited more than 30 investment institutions and creditors day and night, hoping to get support, but this time the situation was not the same as when shareholders faced Wall Street tycoon Sol Stein in 1984. Berg's attitude towards the acquisition was completely opposite. Many investors had expectations for this acquisition, so they did not give Michael Eisner any success, and some drastic anti-acquisition measures could not be implemented.

Although Michael Eisner chose ambiguity in the announcement of the financial report, most investors are very clear that Disney's film business has been declining in the past two years, even if Disney's other businesses are still bringing stable profits. However, as a film company, the development of excellent movies is the most important cornerstone of the company. Without enough hot-selling movies to support, Disneyland and Disney stores around the world will not be able to launch new products, relying on Disney content. Disney TV ratings will also decline.

Firefly, which is very strong in terms of film and television content, even strong enough to cover up its channel disadvantages, and Disney, which has very perfect surrounding channels, can just form a perfect complementary effect. This complementary effect became after the success of Pixar's Toy Story. more obvious.

If Firefly's acquisition plan is to choose zé for Disney's holding instead of a wholly-owned acquisition, maybe most of the shareholders have already fallen to Firefly.

Frank Wells waited for a while, and seeing that Michael Eisner did not speak again, he had no choice but to say: This acquisition cannot be completed in a short period of time, if Disney's new year movies do well, they may be able to regain the shareholders' interest. support.

I'm not Eric Williams, where can I find it... Michael Eisner said halfway, stopped, and did not want to mention Eric's name again, and continued: I went yesterday. I have seen a few samples of the movie. The already scheduled Beauty and the Beast and the remake of Elizabeth Taylor's The New Father-in-law are good, but the quality of Robert Benton's Dare to Do is not satisfactory. The movie cost $48 million, which is the sum of the cost of the first two movies, but everyone who has seen it thinks this movie is worse than Cutthroat Island, and I wonder if it should be changed to next summer.

It's better to change the file, you can't let this movie affect this matter anymore, Frank Wells said, suddenly thinking of something, and said: I remember that The Righteousness invited Nicole . Kidman played the female lead, and she turned it down.

The lover of Eric Williams?

Yes, if we had realized this earlier, perhaps we should have been more cautious about the project of The Righteousness.

Maybe it's just an accident, Michael Eisner waved his hand irritably: Don't talk about him again.

The two were talking when the phone on the desk rang, Michael Eisner picked up the receiver, and the secretary opposite said, Mr. Eisner, I just received a phone call, and the other party said he was Summer. Redstone, do you need me to come in?

Summer Redstone, Viacom's Summer Redstone? Michael Eisner confirmed, and Frank Wells pricked up his ears when he heard the name.

The secretary on the opposite side gave a definite answer, and Michael Eisner said, Come in.

After finishing speaking, Michael Eisner looked at Frank Wells and pressed the speakerphone button on the landline so that Frank Wells could hear the conversation between the two.

A somewhat old but angry voice came from the landline soon.

...

In the villa of the Malibu Point Manor, Eric was sitting on the sofa in the hall, watching the list of Disney's films in production and about to be released. Frank Wells could think of the importance of the New Year's gear to Disney. Of course, Eric Thinking of this too, he is testing how to snipe several Disney movies at the end of the year.

In the film being produced, the pinnacle of 2D animation The Lion King in memory has not yet appeared, but another Aladdin has been approved and is in production.

In addition, in the movies that will be released at the end of the year, Eric has seen two more familiar movies, The Righteousness and Beauty and the Beast. The most impressive thing Eric is about The Righteousness is that Nicole's frontal full-nude scene, as for the plot, there is nothing to say at all. An ambitious work that wants to imitate The Godfather and Once Upon a Time in America ​​turned out to be nondescript and lacking in bright spots.

Eric put more attention on the cartoon Beauty and the Beast, the original time and space Beauty and the Beast is the first animated film in Oscar history to be nominated for best picture, although the information in hand It shows that the premiere scale of this cartoon is only more than 900, but Eric dare not take it lightly.

If Home Alone is still being made by Firefly, releasing it at the same time as Beauty and the Beast would be a good way to snipe. Fox has now started the production of Home Alone 3, but has not announced the schedule. According to the schedule of the first two films, Home Alone 3 may still be released on Thanksgiving, the same as Beauty and the Beast. But who knows if Fox will change his mind, maybe he can find a time to test it.

Eric was just trying to put Jim Carrey's Dumb and Dumber on the Thanksgiving schedule. Nicole was wrapped in a short bath towel and dangled with two long white legs and bare feet. A bathroom came out.

Seeing Eric staring at him, Nicole, who was wiping her wet hair with a towel, asked, What are you looking at?

leg!

Nicole rolled her eyes at Eric, walked over and sat down beside him, looking curiously at the information in Eric's hand. She knew that what Eric looked at outside the study was usually not information that needed to be kept secret, so there was no What scruples.

Eric stretched out his hand and pointed at the information: Do you know The Righteous Dangerous?

Well, I received a contract for this script. I can work with Dustin Hoffman and Bruce Willis at the same time, but there are some nude scenes. I have communicated with the director a few times, but the other party does not agree. I deleted those shots, and I didn't pick them up.

Eric smiled and said, Fortunately, you didn't pick it up. Otherwise, if you failed two films in a row, you would be not far from the box office poison.

Nicole wondered: How do you know that this movie is a Disney movie, and it hasn't been released yet.

Look at its schedule, on November 1st, a movie with a production cost of nearly 50 million US dollars was put on a schedule like November 1st, except that the film was smashed, I can't think of a second reason.

Nicole agreed with Eric's point of view in her heart, and she was a little fortunate but joked: Maybe Disney thinks it is the same as Cry on the Island, and it can ignore the schedule? (To be continued...)

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