Chapter 366: Chapter 367: Let Me Take Over
[Chapter 367: Let Me Take Over]
Eric felt a sense of joy at the arrival of another guy with the same intentions as Murdoch. At that moment, he desperately needed a large sum of cash, and Disney was knocking on his door. Despite his disdain for Michael Eisner, Eric had no plans to refuse the offer.
However, on the surface, he mockingly asked, "Does Disney still have any money left?"
Michael Eisner's expression soured immediately. Disney's Buena Vista had released four films over the summer, and aside from one quietly distributed small production that was merely handling another company's films, the rest were big-budget productions with investments exceeding $30 million. Following the dismal failures of The Rocketeer and Fire Birds, Disney released a movie called Arachnophobia at the end of June. This film, produced in collaboration with Spielberg's Amblin Entertainment, told the story of a small town invaded by mutant spiders. After three weeks, the film had only grossed over $30 million.
With the production costs and marketing investments for these three productions, Disney's summer losses had already surpassed $100 million. Since Ghost, released by Disney in conjunction with Firefly Films, had not involved their investment, Disney could only take a 10% distribution cut, and any VHS revenue was out of the question. Therefore, despite Ghost's future success, it wouldn't make up for Disney's losses, and it was easy to envision a grim financial report at year-end.
"Eric, you don't need to worry about that. If you need cash, I can lend you $100 million," Michael Eisner said coolly.
"I'm in a rush, I need it within ten days," Eric replied, adding a sense of urgency to his request.
Michael Eisner controlled a glimmer of satisfaction and said, "No problem. But, Eric, since you want the money in ten days, you'll have to pay it back within three months. Otherwise..."
"Firefly's shares?" Eric interjected.
Michael Eisner nodded, "My terms are the same as Mr. Murdoch's -- a loan of $100 million, with 10% interest."
"Deal," Eric stated without hesitation. According to the plan they had set, he intended to wrap things up in three months. After cementing the deal, Eric's mind started whirling, and a slight mischievous smile crossed his face. "Mr. Eisner, why don't you join in on this? It's a great opportunity."
Michael Eisner shook his head, "Sorry, Eric. I never participate in bets where the outcome is uncertain."
"Honestly, I feel the same way," Eric thought to himself as he turned to the big screen.
...
Originally, he planned to return to New York the day after the premiere, but events transpired that forced him to stay in Los Angeles a few more days.
Perhaps word had spread from Fox or Disney, but executives from the seven major film studios sought Eric out, eager to be the lucky beneficiary of his plans. Even the struggling MGM offered him $50 million, and Eric accepted all offers. He had to pledge over 50% of Firefly's shares, however. Apart from the agreed repayment date with Murdoch being six months later, the other companies had loan terms of no longer than three months, with Warner even imposing a two-month deadline. Yet, he accepted Warner's offer of $150 million without hesitation.
...
A few days later, Eric returned to New York. The results of the summer's most anticipated heavyweight films, Die Hard 2 and Ghost, had been officially announced.
Die Hard 2 raked in $24 million in its opening weekend, thanks to the popularity of the first film. Meanwhile, Ghost did not go unnoticed as it had in the previous timeline; this version had garnered extensive promotion and attention, hitting the limits that a film company could achieve in that era.
As a result, in its opening weekend, Ghost earned $27 million while tugging at the heartstrings of countless moviegoers. After the figures were released, box office analysts projected that both films would likely surpass $40 million in their opening week. Previously, Total Recall had the highest opening weekend earnings in the summer of 1990 with only $36 million. The stunning achievement of both films surpassing the $40 million mark in just a week was a shock to many who had anticipated a fierce competition resulting in mutual losses.
At that moment, however, Eric didn't have the bandwidth to focus on the movies.
...
In a suite at the Sixty Soho Hotel on Sixth Avenue, Chris stared with a serious expression at Eric, noting the more than $500 million that had suddenly appeared in their accounts. He hadn't told Jeffrey; the last thing he wanted was for Jeffrey to see the panic. If he knew that Eric had mortgaged over 50% of Firefly's shares, he would probably go insane.
"Eric, I initially thought you were just a bit impulsive. Now, I genuinely believe you're crazy," Chris said.
"Chris, relax. Even if I lost all this money, I wouldn't lose control of Firefly. I've had Carolyn apply for a loan with my remaining 20% shares. We'll secure that loan within three months, and I can't lose everything either. In the end, I'm sure I can buy back enough shares to maintain absolute control over Firefly," Eric articulated clearly, reiterating his planned explanation.
"You know that's not what I meant. Eric, you're completely losing your sanity. It's not too late to pull back now. In just over ten days, we've put in $120 million, yet there's barely any profit. Just think -- if Saddam, like before, extorted benefits out of Kuwait and then backed down, oil prices would plummet. If they drop by even 10%, Eric, just 10%, all your funds could disappear."
Feeling overwhelmed, Eric ran his hands through his hair, "Chris, why can't you have a little faith in me?"
"Because this is a harsh reality. No one knows what tomorrow will bring. Eric, I can't let you keep going like this. I won't touch that $500 million. If you insist on buying in, I'm out right now."
Eric fell silent, the relaxed look on his face evaporating. He sat in silence for a long time before whispering to Chris, "Before that, could you help me find someone who's well-connected? You know, I have no connections on Wall Street."
Chris hesitated, sighed, and stood up, leaving the hotel room in a defeated manner.
Eric didn't get up to see him out; instead, he pulled Drew close, resting her head on his lap as he stroked her soft face. "Kiddo, if one day I let you down, would you be sad?"
The girl, like a cat, licked his palm and shook her head, "No."
"But I've let Chris down. There aren't many people in this world who truly care about me. Jeffrey and Chris are two of them."
"At least you still have me," Drew said, pressing Eric's palm against her soft cheek earnestly.
...
The next day, Eric got up early. He mechanically brushed his teeth, washed his face, and had breakfast before walking to the trading office. There, he immediately spotted Chris, and for the first time, he felt a hint of moisture in his eyes.
"I couldn't shake off the worry. Let me take over," Chris explained softly.
Eric stepped forward and hugged Chris tightly until he could barely breathe before letting him go.
*****
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