RBCT Chapter 167 Initial Display of Power
Chapter 167 Initial Display of Power
Chapter 167 Initial Display of Power
In the 1997 North American summer movie season, the world of Hollywood cinema was undergoing an unprecedented and dramatic reversal.
The release of Titanic's opening weekend box office results was like a bucket of cold water poured on the hearts of all those who had high hopes. The box office revenue of only $3387 million was a stark contrast to the film's huge investment of $2.5 million.
The ridicule from mainstream media across the United States came like a tidal wave, as if it had been waiting for a long time.
Variety magazine, as one of Hollywood's most influential industry publications, is particularly sharp in its approach.
They even launched a special column called "Looking at the Titanic," which was full of sarcasm and ridicule of the film.
The column details the cost overruns during the film's preparation and production, calling it an out-of-control money game, and ruthlessly asserts that "this big-budget film is destined to become an indelible disaster in North American box office history."
Other media outlets followed suit, with the Los Angeles Times publishing an article stating that "Cameron's ambitions ultimately succumbed to market realities."
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The Washington Post quipped, "It's less like a movie and more like a slowly sinking luxury cruise ship, except this time it's the investors' wallets that are sinking."
For a time, Titanic became a laughing stock in Hollywood, and labels such as "Cameron's Waterloo" and "the most expensive failure in history" were firmly attached to the film.
But in just over a week, the tide turned dramatically. Those media outlets that had scoffed at Titanic now felt as if reality was slapping them hard across the face.
This film, which was initially met with skepticism, staged an epic box office comeback in its second week, ultimately shocking Hollywood with a weekly box office of $1.02 million.
This remarkable increase not only broke numerous box office records but also stunned all those who had previously predicted its failure, catching everyone off guard, even more so than the Titanic crashing into an iceberg in the movie.
If the first week's box office was like the biting cold wind in winter, then the second week's box office was like the sudden burst of warm sunshine in spring, instantly dispelling all the gloom.
Especially those cinemas that had reduced their screens due to the poor opening weekend box office of "Titanic" are now forced to adjust their strategies urgently.
Not only have the previously reduced number of screens returned, but they have also secured a significant amount of screen time allocated to other films.
The media's attitude took a complete 180-degree turn. Those critics who had previously been vehemently attacking "Titanic" now shut their mouths in mockery and began to praise the film with the most eloquent language.
The New York Times was the first to speak out, praising Titanic in its review as "undoubtedly a breathtaking masterpiece. James Cameron, with his unparalleled imagination and superb directing skills, has created a dreamlike yet incredibly real world of Titanic for the audience."
"In the film, the grand and spectacular shipwreck scene is perfectly interwoven with the delicate and touching love story, making every viewer feel as if they are there, experiencing this thrilling love story of life and death with the male and female protagonists."
The Hollywood Reporter also lavished praise on the film, writing, "This film is a masterpiece of cinematic art. From the meticulously constructed and realistic sets to the actors' superb performances and the stunning special effects, every detail is impeccable. It not only recreates the glory and tragedy of the Titanic, but also profoundly interprets the beauty and resilience of humanity through this legendary love story that transcends social classes."
The Wall Street Journal's turnaround was even more dramatic, as it had labeled the film as trash just a week earlier.
"Titanic is undoubtedly a shining pearl in the pantheon of cinematic art. Director Cameron used his powerful brush to paint a magnificent yet delicate picture on the screen. It is a great work worthy of being recorded in history."
Amidst the praise for the film and director, there was also no shortage of acclaim for Ernst, who remained a staunch supporter of "Titanic".
In several of its reports, Vanity Fair magazine mentioned him repeatedly, saying, "When we marvel at the box office miracle and artistic achievement of Titanic, let's not forget who created this brilliance."
"If it weren't for Ernst, this film might never have been able to meet movie fans around the world. It was he who, amidst skepticism, gambled over two hundred million dollars and overcame all opposition to support the film's production and distribution, allowing audiences worldwide to have the opportunity to watch this epic work."
"Many people have mocked Ernst for not understanding film and art, but don't forget that he is not only the owner of MGM and a new capitalist, but also the genius author of the best-selling book 'The Hunger Games.' He was born for art."
His sensitivity to art and his insight into the market far surpass those critics who only engage in theoretical discussions.
Upon seeing these reports, Ernst snorted and casually tossed the newspaper onto the table. "I don't know who it was that called me the graveyard of art back then."
His tone carried a subtle hint of sarcasm. Although he was well aware of the nature of these media outlets—they always changed their tune depending on the wind and whichever side was in the spotlight—the speed and seamlessness of their change of attitude this time was truly eye-opening.
Many tabloids even used the contrasting performances of these major newspapers before and after the week as their theme, and some even went so far as to interview their editors, creating quite a stir.
Looking at the hymns in the numerous newspapers Mayer had brought to the table, Ernst even had a strange feeling, as if he had traveled through time and that the sharp criticisms of Titanic from last week had never happened and were just his own imagination.
However, one thing the media is right about is that the huge success of "Titanic" is bound to make some people uneasy, and there will be more than one.
Inside the headquarters building of 20th Century Fox, the atmosphere in CEO Bill McNick's office was somewhat somber.
After waving for his secretary, who had brought him coffee, to leave, he picked up a pre-prepared envelope and gently placed it in front of an elderly man across from him.
The old man frowned, a hint of inquiry in his eyes, clearly not understanding the other person's intention.
Bill McNichols took a deep breath and said calmly, "Rupert, I think it's time for me to leave 2nd Century Fox."
Rupert Murdoch is the head of News Corporation and the current owner of 2000 Century Fox.
Murdoch did not reply immediately, but slowly placed the coffee cup he had just picked up back on the table, the bottom of the cup making a soft sound as it hit the table.
He knew in his heart that this was a coup.
He had anticipated this situation even before he arrived.
In the past week, due to the dismal opening weekend box office performance of "Titanic", Harrison replaced two of Bill McNick's close executives under the pretext of business restructuring, which was undoubtedly a blatant challenge to Bill McNick's authority.
Murdoch has remained silent on this matter.
Because in his heart, the scales had begun to tip in Harrison's favor.
Regardless of the special personal relationship between the two, Harrison did indeed save 20th Century Fox a considerable loss by transferring the copyright of "Titanic" to MGM.
Given the film's poor opening weekend box office performance, this transfer payment was undoubtedly one of 20th Century Fox's wisest decisions.
However, the turn of events came so quickly that even a seasoned businessman like Murdoch, who had been navigating the business world for many years, was taken aback.
The film "Titanic" has always been a project that Bill McNick has been optimistic about and strongly promoted despite opposition. Now that the film has become a box office hit, he naturally wants to take this opportunity to settle old scores and get revenge.
It would be best if he agreed himself. From then on, Bill McNick held absolute power at 20th Century Fox, becoming the true CEO of this film and television giant.
If they don't agree, the other party isn't afraid.
He was one of only two big names in Hollywood who insisted that Titanic would be a success, and he kept saying it was a good movie.
Harrison and others initially wanted to use his remarks to smear him with public pressure and force him to back down, but now they have backfired.
If Bill McNicholm really does leave 20th Century Fox, given his reputation in the industry and this accurate judgment, he will certainly not lack suitors.
In this power struggle within 2000 Century Fox, Harrison has clearly fallen behind.
Murdoch now has only one core question to consider: can 20th Century Fox afford to lose its CEO, Bill McNick?
If not, then he must be given enough power to meet his demands.
If possible, then this resignation letter will serve as proof of an amicable parting, allowing him to simply pack up and leave.
"I'll transfer Harrison away."
After a long silence, Murdoch finally made his decision, his tone tinged with a hint of helplessness.
Upon hearing this, Bill McNichols couldn't hide the upward curve of his lips, and a glint of victory flashed in his eyes.
While the power struggle within 20th Century Fox ended in victory for Bill McNick, things weren't so easy for Paramount president Tom Jacobson.
Just a week ago, they were so full of self-praise about their achievements; now, they are just as embarrassed.
Because of the dismal opening weekend box office performance of "Titanic," he touted himself as Paramount's most visionary leader, and various accolades followed him.
But now, with the soaring box office of "Titanic," his previous wisdom has instantly turned into shortsightedness, and all the praise he once received has now turned into an invisible slap in the face.
The board of directors has raised serious questions about his management abilities regarding the Titanic incident, believing that his poor decision-making caused the company to miss a huge opportunity for development.
What Tom Jacobson found even more unbearable was that while Paramount employees outwardly remained respectful to him, he could always see the undisguised mockery and ridicule beneath their respectful facades.
He knew that his prestige within the company had plummeted. What he didn't know was that an even bigger storm was brewing for him.
A secret meeting of the Paramount board of directors has decided that he will resign as CEO of Paramount and will be succeeded by COO Shirley Lansing.
Frank Lloyd, CEO of Universal Pictures, was also feeling the pain. The box office success of "Titanic" had the most direct and severe impact on Universal Pictures.
With Jurassic Park 2 about to be released, and Titanic enjoying such a strong box office run, this is undoubtedly extremely bad news.
Many media outlets are already eagerly anticipating the spectacle, with some even raising the question of whether an ancient behemoth would prevail in a battle against modern industry.
This atmosphere of public opinion made Frank very uneasy, and he has held several meetings in the past few days, all of which revolve around the upcoming release of "Jurassic Park".