Chapter 393: Chapter 394: No Fighting
[Chapter 394: No Fighting]
Due to the limitations imposed by the buyback rights, Robert Shea's shares, though coveted by many, were not snatched up through malicious bidding by any companies. After all, this stake accounted for only 25%, and Eric possessed absolute control over Firefly. Whether it was one of the seven major studios or the three major networks, their aim in acquiring the shares was to collaborate with Eric.
If any of them resorted to hostile bidding, they would undoubtedly offend Eric, and even if Eric could not match the price offered by the hostile bidder and had to relinquish his buyback rights, the company that acquired those shares would face fierce resistance from Eric. In that scenario, achieving their goal of acquiring the shares would become very difficult.
Consequently, those who were interested in Robert Shea's shares ended up having more interactions with Eric. Only if Eric relented would they make a move to acquire them. Of course, throughout the entire process, Eric showed no signs of yielding.
Suddenly visiting the estate, Elisabeth spent some time trying to get a promise out of Eric, but she didn't get anywhere. With Connelly present, she couldn't be a distraction, so after a brief chat, she decided to leave.
As Eric escorted Elisabeth out of the villa and along the estate path, Elisabeth looked around at the lush shrubs with her hands behind her back. Suddenly, something clicked in her mind, and she said, "That script for Cutthroat Island that Robert took from you is now being fought over by everyone; Fox wants a piece too. You wouldn't oppose this, would you?"
Eric paused for a moment, pondering the question. Noticing Elisabeth stopping due to his pause, she continued, "You aren't so petty about this, right? Anyway, this matter..."
Looking around and locking eyes with her, Eric succinctly replied, "No fighting."
Elisabeth slightly opened her mouth to look at Eric. Although she was a bit spoiled, she was also a sharp-witted woman. She quickly sensed something from Eric's expression and asked, "You're doing this on purpose, aren't you?"
Eric nodded slightly and continued toward the helipad. "Just keep it to yourself. If you leak it and ruin my plans, I won't let you off the hook."
Elisabeth shot a glare at Eric, wondering why it had to be her fault. However, she wisely chose not to argue back. She understood the stakes and nodded in agreement, then asked curiously, "So what's the deal with that script?"
Eric replied nonchalantly, "That's not for you to inquire about."
Feeling dissatisfied, Elisabeth gave a small huff. As they stepped into the helipad area, she told Eric, "I'm heading out; you can go back to sketching your nudes."
"Why do you always have to make something wholesome sound so vulgar? Sketching is a practice that brings peace of mind. You, on the other hand, are just too restless. You should give it a try."
Elisabeth looked at him in disbelief. "You can calm down in front of such a pretty girl?"
"That's just how it is. I have a beautiful model right in front of me -- I can't be expected to draw a plaster cast, can I?"
"You've got too many twisted arguments. I'm not debating this with you," Elisabeth stated, seeing the pilot signaling her it was time to board. She leaned over and pecked Eric on the cheek. "Goodbye, I'm off."
"Take care, and say hello to Mr. Murdoch for me."
...
Regarding the negotiations to buy back Robert Shea's shares, Eric didn't participate directly. His presence would not have benefited the negotiations; instead, it could provoke Robert's resentment, creating barriers to the talks.
Jeffrey led the negotiations for Firefly, and Eric enlisted the assistance of his private attorney Edward Lewis. Eric planned to establish a dedicated legal department at Firefly after the New Year, and he invited Edward Lewis to join, just as he had with Carolyn Elliott in the finance department. Edward agreed without much hesitation.
As Eric anticipated, Robert Shea's lack of cash and his unwillingness to give up his entire investment rights in Cutthroat Island fueled the negotiation process. After three weeks of intense discussions, on December 24, the day before Christmas, they finally reached an agreement. Firefly bought back Robert Shea's 25% share for $390 million. Additionally, Firefly would pay Robert $60 million in shareholder dividends and CEO salaries over a year, totaling $450 million spent to completely free Eric from Robert Shea.
This deal sent waves through Hollywood.
...
Columbia and Universal Pictures managed to sell for between $5 and $6 billion primarily because they were publicly traded companies and the Japanese had paid a high premium to facilitate the deals. For Columbia Pictures, prior to Sony's announcement, its market value was only around $2 billion.
Now, without being listed, Firefly's valuation surged past $1.5 billion through this deal. If Firefly maintained its current performance, once it went public, it could surpass any Hollywood giant except for ones already merged with Time Warner.
The deal was made on the day after Eric produced and Kathryn Bigelow directed Point Break hit theaters.
Point Break's opening weekend figures were in. In over 1,800 theaters, it totaled over $16 million in its first three days. For Kathryn Bigelow, averaging nearly $9,000 per theater over that weekend was a very good indicator. In Hollywood, an average of $10,000 for an opening weekend typically signified that a director had joined the ranks of A-list directors. After a subsequent four days in theaters, Point Break was sure to exceed that $10,000 average.
However, compared to Eric's previous films, these numbers were a definite failure. Not counting the films he directed, even the same year's production, The Others had surpassed $20 million during a comparatively quiet release window last November.
As a result, many media outlets attributed the failure of Point Break to Eric's hasty decision to oust Robert Shea. Following the release of the opening weekend figures, Robert Shea publicly mocked Eric again, claiming it was merely the beginning of Eric's failures.
*****
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