Capítulo 512: Chapter 512: In Such a State
On the southern side of Bear Lake, in the small town of Bear City, Charles Capet and Kristen Stewart went boating at noon and then strolled around the small town.
Bear Lake is situated over 7500 feet high in the mountains. It's a popular skiing spot near Los Angeles in the winter and a great place to escape the summer heat.
Kristen Stewart wore a T-shirt and shorts for a refreshing look as she and Charles relaxed at an outdoor bar near the Bear City pier.
Smoking a cigarette, Kristen Stewart leaned back in her chair, looking a bit disheveled, flipping through a magazine in her hand.
Next to her, Charles casually browsed through a newspaper on the table.
"Wow, Alexandra Daddario and Kelly Brook's bodies in Piranha 3D are just amazing!" Kristen Stewart exclaimed as she browsed the magazine.
Charles glanced over and saw the provocative bikini shots of Alexandra Daddario and Kelly Brook on the magazine, smiling, "You have quite the unique interests."
"Alexandra Daddario's eyes are really beautiful," Kristen Stewart added, not forgetting to compliment.
Charles just smiled, then put down the newspaper he was holding. The newspaper had a report on the official development of Resident Evil: Afterlife by Germany's Constantin Film and Sony Screen Gems.
Paul W. S. Anderson, the screenwriter of the Resident Evil series and the director of the first film, returned to direct. The lead actress, of course, remained Milla Jovovich. However, the crew also invited Wentworth Miller from Prison Break to play Chris!
"Honey, do you want to rest? Shall we head back to the villa?" Charles said, wrapping his arm around Kristen's waist and placing his other hand on her thigh.
Kristen Stewart turned and kissed Charles on the lips, "Let's head back first; this place doesn't have the best view anyway!"
Soon, the two returned to their lakeside vacation villa from the Bear City pier. As soon as they entered, they embraced each other.
Charles lifted Kristen Stewart by her hips and kissed her passionately, heading towards the bedroom...
...
At the same time, newly appointed MGM CEO Stephen Cooper learned that aggressive Wall Street investor Carl Icahn had acquired 20% of MGM's debt.
In the MGM headquarters, President Daniel Taylor was reporting to Stephen Cooper about Lionsgate's merger proposal.
"Lionsgate wants to merge with MGM?" Stephen Cooper frowned.
"It's Carl Icahn's idea. He holds 33% of shares in Lionsgate and is currently the second-largest shareholder," Daniel Taylor explained. "He has the right to make such a proposal!"
"Previously, Carl Icahn initiated a hostile takeover of Lionsgate to increase his shareholding to 33%. After Lionsgate's refusal, he upped his offer, only to be refused again!"
Stephen Cooper, of course, knew Carl Icahn well, the Wolf of Wall Street.
He often acquired company control with minimal shares, then restructured assets, raised stock prices in the short term to profit, and then exited. This was Carl Icahn's usual method!
Carl Icahn aimed for a merger between Lionsgate and MGM with the same goal. As for the company's long-term operation and future planning, it was not in his considerations at all.
"Didn't Lionsgate propose a poison pill plan to counter this takeover? Although it didn't succeed, Lionsgate's management also found a major shareholder to support them!" Stephen Cooper wondered.
"Lionsgate's management found Mark Rachesky, who owns a percentage of shares in Lionsgate. He joined Lionsgate's board with Carl Icahn last year," Daniel Taylor continued.
"Moreover, Mark Rachesky and Carl Icahn have been long-time partners. They previously co-founded a well-known investment company on Wall Street."
Daniel Taylor was aware of the companies currently showing interest in MGM, and Lionsgate was no exception.
"Mark Rachesky supports Lionsgate's current management and does not agree with Carl Icahn's actions, as it sacrifices Lionsgate's future!" Stephen Cooper shook his head, saying, "Although Carl Icahn is still calling for a direct merger between Lionsgate and MGM, Lionsgate's management's offer is too low. Lionsgate's merger with MGM, where the majority of the new company's shares would be controlled by MGM's creditors, is not something Lionsgate's management can accept!"
Daniel Taylor sighed, "MGM is having a hard time attracting external funds, and seeking a merger is tough to satisfy creditors."
"Perhaps, selling MGM is the best way to get through this crisis!" he added.
This year in Hollywood, the booming movie market had nothing to do with MGM, but MGM's debt crisis kept it at the forefront of headlines.
Of course, the biggest news in the entertainment circle was Capet's acquisition of NBC Universal, with MGM's debt crisis as a close second.
Involving two of Hollywood's traditional large studios, it's hard not to attract attention!
Compared to Capet's merger with NBC Universal, which was seen as an opportunity for Universal to achieve new glory, MGM's road to self-rescue seemed like a dying old lion's struggle.
MGM's downfall wasn't an overnight result. Since Kirk Kerkorian turned MGM into a casino and hotel brand, it has drifted away from the film industry.
Then, controlled by a Sony-led consortium to extract residual value, MGM's future seemed predestined!
As the new CEO of MGM, Stephen Cooper was now in a tough situation, with Lionsgate's current liquidity only able to maintain basic operations.
Moreover, debt restructuring wasn't something that could be done overnight, and the creditors' interests couldn't be ignored!
Facing MGM's heavy debt, Stephen Cooper found it challenging to proceed. Looking at Daniel Taylor, he said, "Let's discuss and arrange an auction for companies interested in MGM."
"Auction..." Daniel Taylor realized this meant putting MGM directly on the block.
To think MGM had fallen to such a state.
*****
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