Capítulo 413: Chapter 413: All Eyes on the TV Stations
Culver City, Yu Feihong's apartment.
Arthur held a few VCDs in his hand, featuring the cover of Jackie Chan's Drunken Master II!
"Isn't Jackie Chan's older movie Police Story set to release this month?", Yu Feihong asked.
"Yes, following the popularity of last year's Rumble in the Bronx, Orion Pictures will release Police Story and Armor of God this year," Arthur didn't have high expectations, content with a box office of a few million dollars.
"Let's go, out for dinner," Yu Feihong stood up and patted Arthur, "A new Mexican restaurant opened nearby, and it's pretty good!"
"Mexican cuisine? Haven't you always disliked its strong flavors?" Arthur smiled.
"Sometimes it's good to try something different."
After they arrived at the restaurant, Yu Feihong casually remarked, "Seems like there are more Mexicans in LA recently."
Arthur chuckled, "There's an economic crisis in Mexico. The peso devalued significantly, so many Mexicans are crossing the border illegally."
However, the US was set to provide $50 billion in economic aid to Mexico through the International Monetary Fund (IMF) to help them through this crisis.
...
Elsewhere, in a luxurious mansion in Beverly Hills, Disney Chairman Michael Eisner was discussing Disney's current situation with major shareholder Sid Bass.
Prince Alwaleed bin Talal from the Saudi Royal Family, through Kingdom Holding Company, had bought 25% of Euro Disney for $345 million, helping the struggling Euro Disney ease its crisis.
"Prince Alwaleed invested heavily in Citibank in the late 80s, becoming its largest individual shareholder. He's made quite a bit over the years."
Sid Bass was knowledgeable about him since the Kingdom Holding Company had indeed invested significantly in various US industries lately.
"Have General Electric and Galaxy been in contact?"
Michael Eisner nodded, "Jack Welch from General Electric wants to merge NBC with Galaxy to form a media group."
Sid Bass laughed, "Naive. Arthur Smith, who rose to prominence in such a short time, is not an idiot. Jack Welch is clinging to NBC's controlling interest. Why would Galaxy, which is on the rise, be interested?"
Michael Eisner felt helpless. In fact, he was interested in purchasing 49% of NBC's shares from General Electric for Disney. But Sid Bass and other shareholders weren't interested in a network they couldn't control. Disney wanted NBC's distribution channels, but General Electric retained operational control, making Disney just a content provider.
"CBS Broadcasting Group is willing to sell, but the Tisch brothers' asking price is too high. We're still negotiating," Michael Eisner explained.
Compared to CBS, Capital Cities/ABC was too large, especially with ESPN's rapid growth in recent years!
"WB TV and UPN TV, networks created by Warner Bros and Paramount respectively, launched this year," Sid Bass glanced at Michael Eisner, "Keep talking. If it's not worth it, then further engage with Capital Cities/ABC!"
Now, Hollywood's entertainment groups were all eyeing television stations. The importance of the three major broadcast networks was undisputed. But now NBC and FOX were preparing to launch their own cable news channels to compete with CNN. NBC was collaborating with Microsoft to create MSNBC.
Meanwhile, the youngest FOX broadcast network was also ambitious, having just established FX Entertainment Cable Channel, and now wanting to create its own Fox News Channel (FNC) and Fox Sports Network (FSN)!
Disney had its own cable network in the Disney Channel, competing with Viacom's Nickelodeon.
"All the film companies are merging with TV stations to improve their distribution channels. Even Galaxy has its own USA Network, along with BET, ESPN, and shares in the Starz pay-TV channel. Honestly, besides animated feature films and Disneyland, Disney isn't doing as well as Galaxy MGM right now," Michael Eisner, who revived Disney over the past ten years and was its biggest game-changer, had simple yet strong foresight.
Galaxy's rapid development frightened Michael Eisner.
Disney's revival relied on the massive success of its animated films in recent years, but now Galaxy's films were also massive hits, with even greater influence!
Although Michael Eisner remained confident in Disney's animation, he was very keen on Galaxy's Pixar Animation Studios, which was about to release its first 3D animated feature. After all, this was a project both Jeffrey Katzenberg and Arthur Smith favored.
"Rest assured, whether it's CBS or Capital Cities/ABC, the board supports you," Sid Bass patted Michael Eisner's shoulder...
*****
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