Chapter 217: Chapter 217: The Decision
[Chapter 217: The Decision]
Murdoch smiled sincerely and said, "Eric, everyone knows that ratings are calculated by Nielsen."
"Nielsen is a commercial market research company, and its primary goal is to make money, isn't it?" Eric retorted without hesitation. If it was a commercial entity, it wouldn't be hard to manipulate the data for the right price, especially in those days when television ratings were still measured in fairly primitive ways. This meant there was plenty of room for tampering. "Mr. Murdoch, since you just agreed to my terms, why not be more straightforward? This way, we can enjoy a more pleasant collaboration in the future."
Murdoch cursed under his breath. This matter could potentially affect the future dominance of Fox Broadcasting, so how could he be casual about it? If it hadn't been for Eric's earlier pressure, he never would have even considered this. But now, Murdoch realized that after having lost the upper hand in their initial confrontation and having Eric see through his subsequent little schemes to counteract him, he might have to concede that 10 percent stake.
He still had no clue about Eric's bottom line. He couldn't be sure whether Eric would risk breaching his contract to hand over his shares to another network, nor did he know the specific terms the other major networks had offered Eric. On the flip side, Eric had figured out Murdoch's intentions; from the moment Murdoch nodded in agreement, Eric had realized that he wouldn't allow Fox to lose its standing, even if it meant bringing in a major investor.
Knowing there was no turning back, Murdoch intended to negotiate for as much benefit as possible. After all, as someone with a controlling nature who didn't belong to Eric's camp, he still viewed Fox as his personal domain, even if Eric's Firefly Films was set to become the second largest shareholder.
Recalling the time when Fox had been denied the opportunity to produce, Murdoch understood that if Eric's two proposed shows ended up being ratings hits, it meant that the rights to Fox's signature programs would be under the control of Firefly. This essentially placed Firefly in a position of power over Fox, and with the additional 10 percent stake, if he and Eric ever fell into an irreconcilable disagreement, the investors motivated by profit would obviously favor whichever side could secure the hit shows.
After some hesitation, Murdoch finally spoke, "Alright, Eric. I... agree. We can discuss the specific details later. But regarding those two programs you mentioned, since Firefly is about to become a stakeholder in Fox, I hope you can provide the concepts and allow them to be produced by Fox."
Eric could tell Murdoch was genuinely conceding this time, and he felt a surge of excitement. Not to mention how much that stake might be worth down the line, having a stake in Fox meant expanding his business territory into an entirely new arena. Of course, with Murdoch giving him such a positive response, he knew he had to express his own sincerity as well.
Murdoch's earlier comments weren't entirely mistaken; wanting 10 percent of Fox's shares with just one project was far from enough.
Although he was somewhat reluctant, Eric replied, "Mr. Murdoch, handing over the whole production to Fox just isn't feasible, but I can promise that these two programs can be co-produced by Fox and Firefly, sharing the investment and splitting the rights."
Murdoch didn't expect Eric to generously surrender full control. His aim was to involve himself in the production and rights, so Eric's proposal was very much in line with what he had hoped for. Therefore, he didn't press for further negotiations.
During this brief exchange, Eric had exerted quite a bit of effort, and Murdoch was equally exhausted.
"Then let's call it a successful collaboration." While there were bottles of wine in the cabinet nearby, Murdoch had lost the energy to retrieve any and instead raised his coffee towards Eric.
"Here's to a fruitful partnership." Eric lifted his coffee in response.
The older and younger of them shared a subtle smile, resembling close friends despite the previous arguments, threats, and confrontations that seemed to fade into memory.
After discussing a few more matters, they exited the meeting room, and nearly an hour had passed.
...
As the cool breeze wafted down the hallway, Eric felt a refreshing chill, taking a few deep breaths of the slightly salty air before turning to the staircase and making his way back to the party on the first floor.
It was already after nine in the evening, and the party was in full swing. Countless men and women moved to and fro, and the hall was filled with a lively buzz of conversation that was hardly disruptive. To the sounds of the band, couples swayed together on the dance floor.
As Eric intended to look for Jennifer Aniston, Robert Shea and Jeffrey Hansen, who had anxiously waited for an hour at the staircase, pulled him aside.
"Eric, how did your meeting go?" Robert asked first. Although there was a significant gap in shares, he had become the second largest shareholder of Firefly, so whatever happened directly affected his interests. Jeffrey, although equally concerned, wasn't as eager as Robert.
Eric wore a rather serious expression and said to Robert, "I have some not-so-good news for you."
"Ah," Robert said, opening his mouth. Eric had previously shared some of his plans, so hearing this made him feel a bit disappointed, but he still pressed, "Didn't it work out?"
Eric shook his head and, seeing the puzzled looks on both Robert and Jeffrey, stated, "What I meant is, Robert, the box office sharing we were expecting recently was supposed to cover that $60 million for New Line. However, it seems that money will have to go elsewhere now."
In an instant, Robert and Jeffrey understood that Eric was just teasing them, meaning the deal had definitely gone through.
Pretending to be annoyed, Robert playfully punched Eric's chest and said, "You little brat, stop beating around the bush and just tell us the truth."
Eric spread his right hand, opening all five fingers in front of them, and replied, "Murdoch agreed to give us 10 percent of Fox Broadcasting for 80 percent of the pre-launch price."
Both middle-aged men widened their eyes in disbelief. Robert swallowed hard, both desiring this to be true and instinctively doubting it. How could he believe that they were to secure a 10 percent stake in the fourth-ranked network in North America, especially one showing signs of growth? "Eric, this isn't funny. How much stock does the Murdoch family even have?"
Jeffrey, having known Eric for a while and witnessing several miracles unfold thanks to him, needed only a brief moment of surprise to almost fully believe it. "Eric, you're not joking, are you?"
Eric grabbed a champagne glass from a passing server and lifted it toward them. "Absolutely, gentlemen. We're about to become significant shareholders in Fox Broadcasting."
At this point, neither Robert nor Jeffrey doubted him anymore. They both lit up with joy, and Robert excitedly downed his glass of red wine.
Even though he only held 15 percent of that 10 percent stake, as CEO of Firefly, this meant he would wield the influence granted by 10 percent of Fox's shares. He had never thought he'd find himself in such a position. Since becoming a millionaire, Robert's thirst for money had waned; he was now more focused on power. His ambition was to become a leading figure in Hollywood like Michael Eisner. Michael Eisner didn't own much stock in Disney either, yet he still commanded significant authority within the company.
However, there was something Robert Shea failed to realize or chose to ignore.
That was the fact that while Firefly had Eric, Disney did not.
After the brief thrill of excitement, Eric picked up the earlier topic again. "So, Robert, while it's possible for Firefly to scrape together $60 million to pay you, it'd certainly stretch our financial resources. So, I was wondering if we could defer that payment until the end of the year. Don't worry, for the time delay beyond the contractual payment deadline, I'll pay you interest at the bank loan rate."
Robert laughed heartily and patted Eric on the shoulder. "Of course, no problem. We're family now, so why even bother with such formality? From the reports I've seen, Firefly won't have much cash to spare by the end of the year anyway. After all, the remaining films are all slated for release at year-end, and the profits won't come in until mid-next year. So, paying me back then is fine."
After finishing his statement, Robert casually added, "Actually, Eric, you could skip the repayment altogether, and we could just convert that amount into Firefly stock instead."
Eric chuckled, pretending not to notice Robert's latter comments. He smoothly changed the subject, chatting for a bit before Robert, satisfied, left with his wine.
However, Jeffrey, who had picked up on Eric's hints, was a step behind and lingered.
*****
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