The Best Entertainment Era

In the Marvel comics headquarters, except for those with special missions like Arthur Malcolm, almost all high-level executives gathered in the large conference room.

Avi Arad, who presided over the meeting, explained the relevant situation in detail as quickly as possible. The meeting room fell into complete silence. Most people even lowered their breathing a lot. Anyone who is not a fool can understand it. Marvel Comics The critical moment of life and death has been reached.

Is this matter irreparable? Executive President Huo Dena asked.

Avi Arad said: I contacted all the senior executives of Citibank I know, and all the answers I got were no. In addition, I asked many friends to lobby, and all the feedback was negative for the time being.

He also said: The public relations department and the legal department have temporarily put down other work, and all efforts are concentrated on Citibank.

How likely is it to change? asked Isaac Perlmutter, president of Marvel Comics.

Avi Allard said directly: We have to prepare for the worst.

Everyone here knows how Marvel's performance has been in the past few years. If Citibank really wants to draw a loan, it will also act in accordance with the contract.

Creative Department Director Mark Durud asked at this time: With a loan of 40 million US dollars, is there no other way for us to raise it? Marvel still has a lot of assets?

An executive next to him said: Unless we sell the headquarters and the surrounding toy factory, we can't raise $40 million.

Isaac Perlmutter was the first to object: Selling these two parts, even if Marvel gets through this difficulty, they can only wait for death.

Avi Arad stated: I would rather go through legal channels with Citibank than sell Marvel's last capital.

Can I borrow money from other financial institutions? someone asked.

The director of the finance department said: If we can raise funds, we will not be like this now.

Has the news of Citibank's loan draw spread? Another executive in his thirties said, Once it spreads, our stock price will plummet again.

Someone muttered: After the failure of the Hulk movie, it fell below the listing price, and there is not much room for it to fall.

Others are speechless,

It has fallen miserably before, and the shares are held in hands, which seem to be valuable, but the company cannot make a profit without dividends, and cannot be sold.

In 1993, at the last glory of the comics industry, Marvel’s single share price was as high as 35.75 US dollars, and then the comics industry entered a cold winter, and the annual sales of comics fell at a rate of more than 70%. Dollar.

After the box office hit of Spider-Man, Marvel's stock price has risen, slowly exceeding $2.50, and was once close to $3 when the global box office of Spider-Man reached $800 million.

However, the failure of Daredevil and Hulk knocked down the hope of the revival of Marvel Comics, and now Marvel's single share price is only 2.17 US dollars.

There is a price but no market, because the trading volume has been terribly low for several months in a row.

Even if it falls to one dollar, Marvel's executives and shareholders have long been mentally prepared.

The position near the end of the long conference table, Maxwell of the copyright department has been observing the changes in the conference room, waiting for the most suitable opportunity.

He is a small shareholder of Marvel Comics. Someone contacted him in the past two days and wanted to buy his shares at the market price three days ago.

Although less than one percent, it also involves millions of dollars.

It is inevitable that the stock price of Marvel Comics will plummet. The news of Citibank’s loan draw will definitely spread, and the other party has no obligation to keep Marvel’s secrets.

Moreover, this matter is obviously not simple.

Several colleagues spoke one after another, and Maxwell saw that the time was almost up, and said, There are still thousands of character copyrights in our copyright library, can't we think of something about them?

Anyway, having sold so many of his own sons, no one would object to selling some godsons.

Isaac Perlmutter said: If we could exchange funds for those ordinary characters, we would have mortgaged the loan. The problem now is that no one will buy or mortgage the copyright of these characters at a price that we are satisfied with.

Avi Arad said: In the past two years, we have contacted hundreds of companies and financial institutions, but someone offered a price, but hundreds of thousands of dollars...

He didn't continue talking, just shook his head.

Maxwell did not give up, and said: I remember that in the past two years, Ronan Anderson and Shahai Entertainment in Hollywood bought the copyrights of many superhero characters from us, many of which can only be regarded as third-line heroes. Copyright is very interested, why don't we contact him any more?

I mentioned it to Ronan Anderson and Robert Lee last year and they said no, Avi Arad said.

Others know this too, and it's normal to be rejected, because Marvel asks for a higher price.

Maxwell added: I think we can lower the price appropriately and get in touch with Relativity Entertainment.

Isaac Perlmutter heard this and said, In recent years, the company with the best relationship with Marvel Comics is Relativity Entertainment.

Creative director Mark Durud said: I think we can try to touch it. Even if Relativity Entertainment refuses, we will not be worse than we are now.

Seeing several colleagues agreeing, Maxwell took advantage of the situation and said: In this case, there is always a way.

Avi Allard nodded slowly: I will find a way to get in touch with Relativity Entertainment.

The meeting lasted until the afternoon, and the feedback from all parties was all bad news, and the news of Citibank’s loan from Marvel spread unsurprisingly. Marvel’s stock price, which had already fallen to the bottom, fell into the abyss again. go.

Marvel also began to make multiple preparations, some of them were working for Citibank, some were looking for new investors, and some were preparing for filing for bankruptcy protection.

Avi Arad personally contacted Robert Lee and Ronan, but did not get a clear reply. The answer they gave him was that it would take time to consider.

This is not what Avi Allard expected. Citibank will draw loans, and Marvel Comics will become a complete mess.

He didn't even know how confident he was in negotiating a deal with a big company like Relativity Entertainment.

On the fifth day after Citibank’s loan notice was delivered, the share price of Marvel Comics fell to $1.15, and the total market value fell below $500 million.

This also created the lowest market value of Marvel after Perelman spent $82.5 million to acquire Marvel from New World Pictures in 1989 and went public.

Moreover, this record is still falling.

Avi Arad is well aware that Marvel desperately needs a fund to revive it.

But he himself doesn't remember that Marvel has found several funds, but it has never been revived in the end.

Among the news that Ronan lived on the other side of the Pacific Ocean, it was Iron Man that really brought Marvel back to life.

In addition, the comics industry has gradually recovered after 2005. A comic released by Marvel Comics in 2006 can be said to have reversed the predicament that its superhero comics could not be sold.

There used to be a comic called Civil War!

But in the current Marvel, Civil War has not even had an idea.

As for the movie, the copyright of the mortgage funds is gone...

After get off work on the fifth day, Avi Arad received a call from a former partner who acted as an intermediary to ask him to meet.

In a clubhouse on Seventh Avenue, Avi Arad met the partner.

Avi, this is Sean Downey, from Los Angeles, currently working for 20th Century Fox. The partner introduced the two sides: Sean, this is Avi Arad, Marvel Comics Chairman and CEO of Marvel, and the largest shareholder of Marvel.

After the two parties shook hands and greeted each other, the partner said: You guys talk, I still have something to do here, come back later.

Hearing that Sean was from 20th Century Fox, Avi Arad couldn't help but think of Arthur Macomb in Los Angeles, and asked directly, I don't know if Mr. Downey is looking for me. What's the matter?

Sean Downey is also very straightforward: Some time ago, Mr. Macomb of your company approached Twentieth Century Fox and asked to revise the copyright agreement between Fox and Marvel on X-Men and Fantastic Four. I'm here today for this.

Avi Arad said: Arthur Malcolm can fully represent Marvel, and Mr. Downey doesn't need to go to New York again.

Sean Downey looked stern: Arthur Malcolm can't decide on this matter. Twentieth Century Fox thinks it is very necessary to communicate with Mr. Allard first, which will benefit our future cooperation.

Avi Arad looked equally serious: The copyright agreement for Fantastic Four was signed with Twentieth Century Fox when Perelman was in office. The agreement lacks the most basic contractual fairness. Marvel's request is very reasonable, but points, otherwise we would not have negotiated with Fox, but would have taken Fox to court for improperly robbing the proceeds of merchandise.

You misunderstood me. Sean Downey did not soften at all: I came here today, and although I was talking about the copyright agreement between X-Men and Fantastic Four, the content is another matter.

Avi Arad stared closely at Sean Downey, no matter how false he was on the inside, he still seemed tough on the outside: I think Marvel should take back all the derivative sales rights of these two series.

Sean Downey didn't answer his words at all, and said a little coldly: I'm here to negotiate with Mr. Allard to revise the copyright agreement of the X-Men series.

Avi Allard stared: How does Fox want to modify it?

The specific terms refer to Fantastic Four. Marvel no longer has the right to share 5% of the post-revenue of the X-Men series. Sean Downey said it easily: In addition, any content created by Marvel For comics and characters related to X-Men, 20th Century Fox automatically obtains the film and television copyright...