章 599: Chapter 600: Voluntary
[Chapter 600: Voluntary]
Eric had encountered too much nonsense when it came to charity. Whether in this life or a past one, he found himself utterly disinterested. Tom Murphy sensed Eric's lack of enthusiasm and swiftly changed the subject, mentioning, "Eric, I heard the sequel to Jurassic Park is in the works. Aren't you planning to take the helm as director?"
Now that Eric had become a stakeholder in Firefly Films, it was no surprise that such a lucrative project dealing with billions of dollars had caught Warren Buffett's attention as well. When he heard his old friend bring it up, Buffett chimed in, "Eric, given how important Jurassic Park is, I believe it's best if you get directly involved. No one wants to see any hiccups with the sequel."
Eric anticipated that the introduction of other stakeholders at Firefly might lead to such discussions. However, unlike Michael Eisner back in his timeline, who stubbornly pushed his agenda after acquiring ABC and led the network back into financial trouble, Eric knew he could not control Firefly alone. He realized it was crucial to maintain good relations with both shareholders and the management team.
In response to the two older gentlemen's suggestions, Eric patiently explained, "I will still serve as the producer for the Jurassic Park sequel, and I'll be very careful when choosing the director to ensure this project goes off without a hitch. However, for at least the next year, I plan to focus my energy on content production at ABC. While ABC had a fantastic year last year, achieving the top market share in North America, I've noticed that since Growing Pains wrapped up, we haven't had any breakout series in quite a few years."
Upon hearing Eric's plan, Tom Murphy nodded in understanding and asked, "I heard Firefly has reclaimed the rights to Friends?"
"Yes," Eric acknowledged, noticing that Tom seemed ready to continue. He added, "However, The X-Files and Who Wants to be a Millionaire were developed in collaboration with Fox, and we cannot get those back."
"There's also that series, Buffy the Vampire Slayer. I heard it has generated quite a buzz among teens," Buffett interjected, shaking his head slightly with regret as he commented, "Eric, you were a bit too generous with Fox."
"Back then, Firefly and Fox were partners," Eric replied casually. "Nonetheless, besides Friends, I've picked out another promising show for ABC, which is currently in production. You'll be able to see the pilot next month."
"Oh," Tom Murphy perked up, eager to know more, "What's the genre?"
"A medical drama," Eric replied. "It's called ER. If you're interested, I can have someone send a storyline outline to you tomorrow."
"That's not necessary," Tom shook his head, smiling. "I'm more eager to see the pilot when it's ready."
"Not a problem. When it's done, I'll make sure to invite you right away. Warren, if you're interested, you're welcome to join us as well."
"If I can find the time, I'll be there," Buffett said. "By the way, Eric, since we can't get Millionaire back, why don't you come up with a similar reality show?"
Eric chuckled, "Already on it. Firefly purchased an idea from a Swedish producer last month for a reality show called Survivor. We're currently refining the details, and we plan to launch it in the fall alongside Friends and ER."
Even though the famous reality show Survivor didn't debut on CBS until 2000 in Eric's original timeline, it had already been conceived back in 1994, but U.S. networks had yet to pick it up.
While Eric had been gathering show ideas, Charlie Parsons, creator of Survivor, had been pitching his concept to major networks in the U.K. and the U.S., only to be rejected repeatedly. After discovering the idea, Eric had Firefly's television production department secretly acquire the exclusive rights.
However, the format Parsons had envisioned was quite rough compared to what Eric remembered, so he had them continue refining the project.
After Eric shared a brief overview of Survivor with Buffett and Tom Murphy, Buffett deemed it interesting. Still, Tom, who had been working in the television industry for decades, saw the disruptiveness of Survivor's concept and continued to praise it.
Eric didn't display much pride in Tom's flattery; after all, the world was replete with ideas. Moreover, the concept of Survivor had certainly gone through scrutiny at the former ABC production department, only to be carelessly tossed aside. Tom Murphy's compliments were likely more about the glow of Eric's personal achievements in creating a string of successful programs, similar to how any movie project Eric became interested in would draw attention and competition in Hollywood.
"Warren, Tom, there's one more thing I want to give you a heads up about," Eric said, taking a few sips of champagne to moisten his throat. "I plan to divest all the newspapers and magazines owned by the company."
At this, Buffett raised an eyebrow, and Tom asked, "Eric, why would you want to do that? Those newspapers have been profitable for years. I see no reason for divestment, especially since they can enhance Firefly's media influence."
Historically, the internet boom would escalate dramatically the following year. Although traditional print media still held a significant place in the industry, Eric remembered clearly that, with the rise of new media, those print outlets would soon lose their luster, slipping quickly in value. Many traditional print media groups that once made the Fortune 500 list faced steep declines in their assets in the early 2000s.
As print media was at its peak in value, Eric believed it was time to cash out. "Tom, I do not deny their value. However, Firefly's focus is not on print. We intend to concentrate on film and television productions and their derivatives, which is why I'm considering selling these assets," Eric explained, glancing at Buffett. "Warren, I know you've always valued the newspaper business. If Berkshire is interested, perhaps we could set up a time to discuss it. I'd provide a reasonable price."
To Eric, it was a win-win situation. If Buffett later felt he'd been taken for a ride, that wouldn't be Eric's fault.
Berkshire Hathaway held shares in several newspapers, including The Washington Post. Buffett had maintained a keen interest in the newspaper sector thanks to his childhood as a paperboy.
However, Buffett was well aware that obtaining those newspapers, formerly part of the Metromedia Group, would require at least a billion dollars. Still, he already had ideas on how to deploy the ten billion or so in cash that could be raised from this transaction. He planned to use those funds to acquire the remaining shares of Berkshire's operating insurance company. In the short term, Berkshire wouldn't be able to gather enough cash to buy these newspapers.
Despite Eric's sincere demeanor, Buffett started to feel a sense of caution creeping in, prompting him to respond carefully. "Eric, if you could wait a year, Berkshire wouldn't mind acquiring those newspapers. However, at present, we already have other uses for the capital gained from this acquisition, and I can't come up with enough cash."
"That's alright," Eric maintained a very sincere demeanor as a younger party. "Currently, Firefly doesn't have an urgent need for funds, so Berkshire could easily pay for the acquisition using stock."
As Berkshire Hathaway's stock price hovered around twenty thousand dollars, the highest in North America at that time, Eric knew that in the coming decades, the stock price would surge to an astonishing two hundred thousand dollars. Even if they sold those newspapers for a billion now, the resale value could climb to ten billion in a decade.
Buffett, usually tight-lipped regarding stock sales and transfers, became instantly alert when Eric mentioned this proposal. He shook his head, saying, "Eric, Berkshire does not acquire companies through stock transactions. Perhaps you should contact other media conglomerates."
Eric shook his head in disappointment, "Alright, if Berkshire has an interest, they can call me anytime."
"I will," Buffett nodded, indicating at a distance. "Eric, I see an old friend over there. Excuse me."
Buffett finished his statement and shot a knowing glance at the hesitant Tom Murphy. Tom swallowed his words and followed Warren Buffett away.
...
Watching the two older gentlemen leave, Eric checked his watch; it was already one o'clock in the afternoon. Scanning the area, he spotted Jeffrey and walked over.
As Eric approached, a middle-aged man talking to Jeffrey raised his glass toward Eric and politely stepped aside.
"Eric, what were you just discussing with them?" Jeffrey asked.
"Just some program production matters," Eric replied, "Jeffrey, today is the birthday of the two little ones. I'm heading to East Hampton. You should come along."
Jeffrey shook his head, laughing as he declined, "I can't believe the two little ones are already one year old. I'll ask my secretary to pick up a couple of birthday gifts for them, but the party is for you young folks. I don't need to attend."
"Come on, let's go together. Chris and Emily will be there too. Maybe you can even chat with them about weddings and such."
"Those two," Jeffrey donned an expression of resignation, but after considering it, he said, "Alright, I'll go."
"I'll go greet Katzenberg and the others first. The helicopter should be ready on the roof. You can head over first."
...
In East Hampton, Long Island, April brought the essence of spring and a vibrant atmosphere. The helicopter descended slowly onto the lawn of a seaside estate. Eric assisted Jeffrey as they disembarked, exchanging a few words with the pilot before the helicopter took off again.
At that moment, Joanna and Virginia approached with a large group of people. The two women had called Eric earlier about the birthday party for the little ones, expressing a desire to invite some guests. Eric understood their intentions; they didn't want the children to remain hidden as illegitimate offspring. He never intended to keep his children's identities a secret, so he agreed to their request.
More than ten people made their way over. Besides Joanna and Virginia, who held the two little ones, Eric also spotted Chris and Emily, though the two women were keeping their distance. Additionally, he recognized Virginia's brother Michael Madsen and a tall woman in her thirties, presumably his wife. He also saw Joanna's sister, Ewa Pacula, but aside from them, Eric was not too familiar with the others.
*****
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