RBCT Chapter 150 The Grand Ship Premiere
Chapter 150 The Grand Ship Premiere
Chapter 150 The Grand Ship Premiere
On May 3, 1997, the summer heat of North America had not yet fully permeated the city's fabric, but an unusual restlessness was already permeating the air in Los Angeles, and the summer movie season had officially begun.
The evening sunlight slanted across the palm treetops of Hollywood Boulevard, cutting the ground into stripes of light and shadow.
The entrance to the Chinese Theatre was already surrounded by layers of orange-yellow police tape, and security personnel in black uniforms paced back and forth along the inner layer of the tape.
The red carpet stretched from the theater entrance to three blocks away, like a burning river, disappearing into the bustling street corner.
Huge posters of "Titanic" hung on the lampposts on both sides of the red carpet, featuring the classic image of Leonardo DiCaprio and Kate Winslet standing on the ship's railing, glowing warmly in the sunset.
MGM spared no expense for this premiere, spending three million dollars, which astonished industry insiders.
From the floral decorations to the neon lights illuminating the streets and the lighting equipment at the theater entrance, every detail reflects the gradual recovery of this long-established film company.
By this time, the first group of movie fans had already occupied the best spots on both sides of the red carpet.
Seventeen-year-old Claire squeezed into the front row of the crowd, her thin shoulders being pushed and shoved by the surging crowd, but she still held the poster in her arms tightly to her chest.
This is a poster for the movie "Romeo and Juliet," Leonardo DiCaprio's last film.
It was this film that made the young Leonardo DiCaprio win the hearts of many young girls, including Claire.
She would occasionally raise her hand to smooth out the wrinkles on the poster, muttering to herself, "He will definitely see this."
Her voice wasn't loud, but it carried the stubbornness and longing unique to a young girl.
Around her, countless young faces also shone with anticipation, holding up their own signs, and almost all of them looked like Leonardo DiCaprio.
It must be said that the young Leonardo DiCaprio was indeed charming.
At 6:00 AM sharp, the convoy carrying the main creative team made its official debut, led by a stretched Lincoln, its windows reflecting a golden outline in the setting sun.
When the first car stopped at the starting point of the red carpet and the door opened, it immediately triggered a loud scream, and the sound of camera shutters exploded like a dense rain of bullets.
Leonardo DiCaprio walked out wearing an Armani suit, with a specially crafted brooch in the shape of the Titanic anchor pinned to his lapel.
He slightly raised his hand to wave to the fans on both sides, a smile he couldn't hide on his lips.
This was his first time attending such a grand premiere, a privilege usually reserved for superstars.
Kate Winslet, who followed closely behind, brought another stunning moment. She wore a royal blue gown with a three-meter-long train that required two assistants to carefully lift it from behind so that she could walk steadily.
The tiny rhinestones adorning the dress shone brilliantly under the lights, perfectly complementing his handsome face and making even non-men gasp in astonishment.
In the VIP lounge on the second floor of the theater, Ernst stood in front of the floor-to-ceiling window, letting the sunlight stream through the glass as he looked down at the grand scene on the red carpet.
Watching the two of them display their charm under the spotlight, receiving everyone's attention and cheers, a meaningful smile appeared on his lips.
"You really know how to spend money. I heard that today's premiere cost more than three million dollars?" Wenger, standing next to him, held a glass of champagne, his eyes full of curiosity.
This was his first time attending the premiere of a Hollywood blockbuster, and everything felt both new and unfamiliar to him.
"But I've heard this movie isn't doing well at all. Aren't you afraid it'll flop at the box office and you'll end up looking like a clown?"
Turn into a clown? Ernst's smile deepened.
He will definitely become a clown. But compared to a smooth and easy victory, isn't the feeling of being slapped in the face by a reversal much more satisfying?
Watching the two of them lingering on the red carpet, I wonder if they'll still feel the same way after the first week's box office figures come out.
Instead of directly answering Wenger's question, he changed the subject and asked about MGM's recent financing situation.
"How are the negotiations with Citibank going? Are they progressing smoothly?"
Ernst was not involved in this matter; instead, he and Robert Iger took charge of it.
When this matter was mentioned, the ease on Wenger's face vanished instantly, replaced by a resentful expression, like that of a forty-year-old woman who had not received any care from a man for a long time.
"What do you think? Is it possible for them to agree to the valuation you've given?"
"John Reed was already quite unhappy about your absence from the negotiations, and when he heard our valuation, he almost started cursing on the spot."
Ernst could imagine the other party's expression, because Ernst had valued MGM at no less than $65 billion, which was almost double the price he paid when he acquired MGM.
Even though MGM has performed well in the past six months, with its Playboy Group lingerie being a hit across the United States and bringing in considerable revenue for the company, the $3 billion increase in market value still seems exaggerated to anyone.
Moreover, Ernst knew that with Wenger and others' negotiation strategy, they wouldn't reveal their hand at the beginning. Their first offer would probably reach seven billion US dollars, which would undoubtedly be a provocation to Citigroup.
He could picture John Reed raging at the negotiating table.
I flew all the way from the East Coast to Los Angeles with all my heart, just to hear you tease me.
Let alone John Reed, even Wenger was skeptical and wanted to ask, "Are you sure you want to raise funds?"
"Among the seven major Hollywood film studios, Time Warner is definitely the one with the highest market value."
Since the merger of Time Inc. and WarnerMedia, Time Warner has become the world's largest media group, with its stock price soaring to $69.8 billion and poised to reach $70 billion at any time, leaving other companies far behind.
"The second-largest company by market capitalization is Disney, whose market capitalization has exceeded $19 billion after its successful acquisition of ABC Television Group."
Taking a sip of champagne, Wenger continued, "The third-ranked company is Universal Pictures, with a current market value of $12.1 billion. But they own heavy assets like Universal Parks, and their net worth is much higher than MGM's."
Wenger glanced at Ernst, his lips moved but he didn't speak, but Ernst understood what he meant.
MGM's valuation is almost the same as that of the other giants, so why?
Just over six months ago, you were at the bottom of the Big Seven, and you've fallen far behind the other six. Now you're telling me your value is only lower than Global Pharma? And about the same as the others?
If Ernst hadn't taken the initiative to call John Reid, MGM wouldn't be a small company; the other party probably would have simply walked away and then told Wall Street to boycott the company.
He felt that this was a joke, an insult to him.
"John Reed has left Los Angeles, and now a vice president from Citigroup is in charge of negotiations with MGM."
"It's alright, let's just drag it out. I reckon Citibank will offer an even lower price in a couple of days," Ernst said calmly, even managing a smile at the end.
In the following week, Titanic's box office performance is likely to be disappointing, and he and the entire MGM will probably become the target of ridicule across the United States.
In these people's minds, it was a foregone conclusion that MGM would suffer huge losses because of this movie, so Citigroup was naturally even less likely to accept MGM's high offer.
Wenger was stunned. What did he mean by "the price will go even lower"? If the price is going to go lower, why are you smiling so happily?
Before he could ask any more questions, Ernst asked about the team from Harvard again.
When the team was mentioned, Wenger's expression immediately became much more serious, and his tone was full of obvious admiration: "As expected of Harvard Law School, they are all very capable."
"Especially one of the doctoral students, Leam Lyman, I think he has the ability to become a top lawyer in America, whether it is his knowledge, his thinking or his way of doing things."
To be famous throughout America is an achievement that every American lawyer dreams of.
This means they will be among the top 0.0001% of lawyers in the United States, easily earning tens of millions of dollars a year even without doing anything.
Countless large corporations will compete to hire them as legal counsel, spending huge sums of money to support them every year.
"It seems the Boston Consortium is quite sincere," Ernst said with satisfaction.
The fact that Harvard sent a team here was facilitated by him through Massim, and naturally, the Boston financial group had a lot of support behind it.
Wenger graduated from the University of Pennsylvania, whose law school is second only to Harvard in the United States. The fact that he gave such a high evaluation is enough to show that these people are top talents.
"Is it possible to keep them here? Especially that Leam Lyman?" Ernst asked, a glint of expectation in his eyes.
Recruiting such talent would undoubtedly be of great benefit to Wenger's law firm, as well as to Wenger himself and the future development of his company.
Wenger said, "You're dreaming. This time, Harvard sent an 18-person team, including the professor and assistants, and 16 undergraduates and doctoral students. They want to keep them all; I'd be grateful if they could keep two or three."
"These are all top students from Harvard Law School. They have no shortage of good job opportunities. Wall Street and top law firms across the United States will extend olive branches to them."
Ernst understood this, of course. The main reason was that Wenger's law firm was too small. If it were a medium-sized firm, with the help of Harvard, recruiting talent would be much easier.
"Isn't there any other way?" Ernst was somewhat unwilling, because he was currently lacking in talent, especially his own trusted men.
"Unless we can get Citigroup to accept a valuation of $6.5 billion." Wenger chuckled self-deprecatingly, thinking it was simply a pipe dream.
Let alone him, apart from Ernst, probably no one would think that Citibank would accept this price and be such a fool.
Even these people from Harvard, after reviewing MGM's materials for two days, wondered if they had been tricked by MGM.
What gives this company the right to demand such a high valuation?
"If Citigroup can accept this valuation, these people will stay?" Ernst was puzzled; he didn't understand what the necessary connection was between the two.
Wenger paused for a moment, feeling that Ernst was still daydreaming; in his view, this was simply impossible.
However, he patiently explained, "If it can really be done, then it is indeed an opportunity."
"If we can negotiate such a high valuation that exceeds the company's actual value, it will greatly enhance the reputation and industry influence of our firm, Wenger Law Firm, and will also gain the recognition of our capabilities from many people in the Harvard team."
Although MGM held the pricing power, the law firm of Wenger, as MGM's legal representative, was naturally one of the main members of the negotiation team.
While the outside world is unaware of the specific details, a large part of the credit will go to the legal team involved in the negotiations.
"Moreover, Wenger Law Firm has no shortage of clients, there is no pressure from senior colleagues here, and newcomers can get more practical opportunities. These are all huge advantages for us. If we can complete such a groundbreaking deal, it will become an important bargaining chip to attract top talent."
"Reputation is the most important thing for lawyers. If they can see that joining our law firm can quickly build a reputation, no one can resist the temptation."
Ernst's eyes lit up when he heard this.
He was originally just planning for MGM's high financing, but he didn't expect to have such an unexpected gain.
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