บท 405: Chapter 405: Montreal Base
In midtown Manhattan, at Capet Capital's office in the Capet Center building, Charles Capet leaned back in his chair, listening to Dona Williams' report on various tasks.
"Jeff Immelt, the chairman of General Electric, was preparing to deal with GE Capital's assets. The group was starting to slim down," she noted.
"Moreover, General Electric had also received government guarantees to obtain loans from the bank to get through this tough time!"
Charles rubbed his eyes. "What's Vivendi's current situation?"
"Vivendi Group seemed to be focusing on its gaming division now. After acquiring Activision last month, they merged it with their Blizzard Entertainment and Sierra Entertainment to form Activision Blizzard," Dona Williams said thoughtfully, adding, "Vivendi's losses in Universal Entertainment were still significant, so they probably wouldn't hold onto their NBC Universal shares for too long!"
"What do you think, is there a chance we could buy that 20% stake in NBC Universal from Vivendi?" Charles asked.
"General Electric has the right of first refusal. We can't bypass GE no matter what. Also, Vivendi's Universal Music Group is very interested in our Capet Records. Maybe this could be our breakthrough point with Vivendi," suggested Dona Williams.
"Capet Records," Charles frowned. "Although the global recorded music industry was shrinking, it's still of decent size."
"What about that Swedish startup online streaming service Spotify I asked you to follow?" Charles inquired next.
Dona Williams replied, "They were preparing for their first round of financing. I met with their founding team. We could acquire a 20% stake in Spotify through Capet Records, and Spotify would get prioritized access to our Capet Records' online music rights."
Sweden, being Europe's piracy hotspot, saw Spotify emerging primarily to promote legitimate music. However, given the market share of the world's big four music groups, Spotify would find profitability tough, with little bargaining power and most of its revenue going to these major music groups.
"Last month, Sony BMG Music Group changed its name to Sony Music. Sony had bought the 50% stake held by BMG. Now, with Universal, Warner, and EMI, the big four music groups have solidified," Charles noted. Although he valued the music market, the recording industry was in decline. Streaming music was just budding, and a few years later, during the industry's lowest point, would be an ideal time to make moves.
"Frankly, I don't mind Universal Music Group absorbing Capet Records; we could simply do a share swap then," Charles added, aware that he still needed to leverage a few of his top divas under the label.
"Let's wait. GE doesn't have time to deal with NBC Universal right now. The earliest will be after the financial crisis blows over next year," Charles said, getting up.
"I'll be heading to Montreal tomorrow to check out the new studio site!"
That evening, when Charles got home, Kristen Stewart was already back and lounging on the couch watching TV.
"Charles, you're back," Kristen Stewart said, helping Charles take off his coat, and then leaned in for some kisses.
"Alright, darling," Charles said, holding her as they moved to the couch. "Tomorrow, come with me to Montreal, Canada!"
Kristen Stewart nodded. "Sure, I have nothing going on. Besides, going to Canada counts as a vacation, right?"
She didn't have any objections.
Charles nodded and smiled, "Then get some good rest tonight. We'll head out tomorrow, and we can spend a few days enjoying Montreal!"
"The Montreal International Film Festival is going on, right? We could check that out," Kristen Stewart added, being an actress with an interest in such events.
Montreal, Quebec's largest city and Canada's third-largest after Toronto and Vancouver, was less than 200 kilometers from the nation's capital, Ottawa. Compared to Ontario's Toronto, the French culture in Montreal was more prevalent.
With its blend of French and North American cultures, the city had a unique dual-language environment, where both English and French were official languages.
Montreal's distinctive architecture, four-season climate, and unique cityscape gave it a European feel in North America.
The next day, Charles and Kristen Stewart arrived in Montreal, the largest French-speaking city in North America.
Capet Pictures' studio in Montreal was located in Kirkland, an old industrial base by the St. Lawrence River.
The site spanned over 80 acres, destined to house more than 12 sound stages. Its European architecture could eliminate the need for some films to shoot in Europe.
Additionally, its North American feel could represent cities like Los Angeles or New York in movies.
Most importantly, Quebec's film industry tax support, with tax credits for studio construction and rebates for film production costs, was crucial for Capet Pictures.
Accompanying Charles was the company's CFO, Annie Depp. The Bank of Montreal provided loan services for Capet Pictures' production base.
"There are many film industry professionals here, from various trades, front and backstage, animation, and sound effects. 'North Hollywood' is a fitting nickname," Annie Depp explained as they stood on a high ground by the St. Lawrence River in Kirkland.
Charles could tell it was an abandoned industrial park. "Looks like this used to be a large sewage treatment plant. It's a good spot to shoot horror and thriller films," he joked.
He wasn't wrong. Several of Capet Pictures' movies like the Saw series and Hostel series were shot in Montreal.
Moreover, filming in Montreal was far more convenient compared to Europe. Nearby Canada was just more accessible.
"Let's go talk to the bank representatives about the detailed plans," Charles said. He wasn't particularly enthusiastic about helping Montreal thrive. If Toronto had better terms, he wouldn't hesitate to build his studio base there.
Business was always business!
*****
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