Chapter 454: Chapter 454: The Fairmont Meeting
[Chapter 516: The Fairmont Meeting]
In late September 1995, a "global elite" roundtable was held at the Fairmont Hotel in San Francisco, attended by Anglophone and Jewish participants. Five hundred politicians, entrepreneurs, and scientists from countries like the United States and the United Kingdom gathered there.
Arthur met media tycoons such as Sumner Redstone, Rupert Murdoch, and Gerald Levin at the Fairmont Hotel on Nob Hill; Bill Gates, Jack Welch, Warren Buffett, Ted Turner and other wealthy entrepreneurs; Henry Kissinger, Brzezinski, Margaret Thatcher, Mikhail Gorbachev, British Labour Party leader Tony Blair, and US Texas Governor George Bush Jr. etc.
With the introduction of California Governor Pete Wilson, Arthur made a point to meet George W. Bush, who had recently become the Governor of Texas. "Arthur, there's a chance to invest in Texas, and the policies here are looking great," George said, having just been elected and initiated the lowest tax bill in Texas history.
"I'm definitely going to check it out," Arthur responded, pleased with George's enthusiasm, especially since his brother Jeb Bush had failed to win the Florida gubernatorial race the previous year. However, he had now secured the governorship of Texas!
Later, Arthur made a point to congratulate Tony Blair, "Mr. Blair, congrats on becoming a member of the Privy Council!" The Privy Council is an advisory institution to the British monarch, formally known as the Most Honorable Privy Council of the King/Queen.
Tony Blair smiled, "Arthur, the economy in Britain isn't doing well right now, and it seems like the Conservative Party isn't very efficient in governance!" At that time, the ruling party was the Conservatives, with the Labour Party as the opposition, and Prime Minister John Major was having a rough time.
"The Mirror Group has always had a favorable view of the Labour Party," Arthur raised his glass to clink with Blair. "Tina often mentions you, Mr. Blair!" The Galaxy group owned the Daily Mirror. Although it could not compete with News Corp, if they teamed up with the Daily Mail and others, it could present a formidable force.
After John Major's term ended, he would definitely step down, and whether the Labour Party could outmaneuver the Conservatives would depend on their strategies!
By the afternoon, Arthur encountered James Cayne, the chairman of Bear Stearns' executive committee, in the banquet hall.
"Are you the representative from CBS?" James Cayne was indeed there on behalf of CBS to negotiate with Arthur.
"The final proposal from Galaxy is $5.4 billion, shouldering CBS's debt of $2.8 billion," Arthur tapped on the table.
James Cayne thought for a moment, "That price is acceptable, but we hope Galaxy can handle the transaction as a full equity transfer."
"CBS shareholders want at least 25% of Galaxy's shares!" Arthur shot James Cayne a glance, "Galaxy is currently estimated at around $15 billion, and after the merger, it'll definitely exceed $20 billion."
"Is it possible for CBS to get 25%?" Arthur chuckled, "At most 12.5%, with the rest to be paid in cash. Fidelity, Merrill Lynch, Deutsche Bank, Goldman Sachs, JP Morgan, TPG, KKR, and Berkshire Hathaway are all involved. Besides, Galaxy will go public next year, and I don't believe the Loews group will turn down my offer. The Tisch brothers, although major shareholders, don't hold control!"
Galaxy just needed to take more time to deal with CBS's other shareholders and could find a way to kick the Tisch brothers out.
"Right now is a merger frenzy; Galaxy wouldn't want to waste time negotiating one by one," James Cayne knew the situation well, realizing that Westinghouse couldn't compete with Galaxy. The Tisch brothers indeed needed to sell CBS quickly to recycle funds. The real problem was that the Jewish executives couldn't control Arthur Smith!
Arthur narrowed his eyes, "Don't forget, I have more than just CBS as an option."
James Cayne was taken aback, but saw that Arthur's gaze had shifted elsewhere. Who could it be? Ted Turner! Was Galaxy going to compete with Time Warner for TBS?
"TBS?" James Cayne frowned. There were many stakeholders in TBS tied to Jewish capital, and Ted Turner enjoyed sailing while managing CNN, which was also overseen by Jewish executives.
Arthur knew the other party understood, "Is Time Warner really determined to secure it? Regardless, Ted Turner is the chairman and major shareholder of TBS; it's not the same as the previous Time company!" Although Time Warner could deal with TBS, ensuring Ted Turner would willingly let go wouldn't be easy.
"If I arrange for Galaxy to acquire TBS through a stock swap, Ted Turner would certainly give a thumbs up," Arthur noted. "Once we secure a few other shareholders, Galaxy could easily take control of TBS. Those who oppose -- are they even useful?"
James Cayne felt a bit helpless; if Galaxy went through with a stock swap, not only would Ted Turner likely agree, but other shareholders would too. Everyone could see Galaxy's development trajectory; only a fool would doubt its promising future.
"Arthur, we need to talk!"
Arthur raised a finger, "If the CBS board doesn't respond within a month, Galaxy will formally propose to acquire TBS. Perhaps, at that time, Time Warner could consider buying CBS instead!"
However, by that time, CNN, the world's number one news television network, belonged to Galaxy. As for the Jewish senior executives there, what would happen?
Given Arthur Smith's control over the Galaxy, no one could make a wave, even if the price of TBS Group was much higher than that of CBS. But don't forget that TBS's major shareholder and chairman, Ted Turner, is not Jewish.
After Arthur finished speaking, he left. In the Fairmont Hotel, many Anglo-Saxon forces were optimistic about Arthur and gave him too much confidence!
"How is it going?" California Senator Dianne Feinstein asked with a smile. It doesn't matter whether Galaxy acquires CBS or TBS. One is a national TV station, the other is a global news network.
Arthur also laughed, "I never doubted the Jewish money-ism; The current price is simply too high for the Tish brothers to refuse. Who else in Hollywood has the ability to acquire CBS, other than Time Warner and my Galaxy, right now?"
Sony and Columbia are out of the picture. News Corporation and Disney both have TV networks, and Seagram has just acquired Universal and is still catching its breath. As for Viacom Paramount, if it is given a few more years to recover, it will indeed be possible!
Dianne Feinstein nodded and whispered, "Willie Brown has stepped down as speaker of the California State Assembly and is running for mayor of San Francisco. But he's very close to the Jews!"
Arthur was stunned. "He is challenging my bottom line!"
Diana Feinstein looked at Arthur and said, "He is your man. You handle this matter. We will cooperate..."
*****
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