"Michael, you and I will be co-CEO together. After a period of adaptation, I can step down and let you become a separate CEO."

"Titles don't matter, Michael, what matters is what I do."

Eisner and Orwitz attended the press conference announcing Disney's acquisition of ABC. Orwitz's appearance also means announcing everyone his movements after resigning from CAA's CEO, ending the failure of his job at the Global MCA.

In the future, I will go to Warner Bros. rumor.

This is the second largest corporate merger case in America's history, second only to the KKR Fund in 1989, which acquired RJR Nabeske's merger. The total acquisition amount reached US$19 billion. As soon as the news came out, it shocked the entire company.

Hollywood and Wall Street.

Except for some of the real top people in the industry, most executives and Wall Street bankers are actually uncertain about this merger case. Most people have only heard of rumors of just a few words, and they don’t really believe Disney will take it.

ABC is a behemoth.

For a moment, Hollywood entertainment media and Wall Street financial media were all crazy and wanted to ask Eisner, the operator of this matter.

"Mr. Eisner, how do you feel about the acquisition?"

"Haha, it feels like buying a house from your cousin..."

Eisner used to work at ABC TV, so he answered questions in such a casual tone, which caused laughter among the people at the scene.

However, the reporters on the scene soon discovered that Eisner did not intend to answer the questions carefully. He just used some simple metaphors to express the strategy he adopted after the merger and acquisition of the two companies.

Simply put, Disney is responsible for content production and ABC is responsible for content distribution. The two add up to one plus one is greater than two.

The reporters at the scene heard this "real" adjective. It was said by Eisner when he was referring to Raystone, chairman of Viacom, who acquired Paramount. When Viacom annexed Paramount, he said that Viacom said that when he was about to have Paramount, he said.

I have also said similar things, but after more than a year, Viacom's market value has declined compared to when he acquired the two companies before.

Another big move announced by Eisner is to enter India and China. Eisner wants Disney cartoons, toys, and amusement parks to enter these two most populous countries in the world. He also hopes that ABC can do it in these two

The country has been implemented so that their people can see the news from Disney/ABC.

There are many big news. If Orwitz appears on the scene, the reporters ignored it and quickly went back to write the article, and then found someone to interview the heads of other companies in the industry, as well as Eisner's small teasing.

The object of Thunderstone.

Sure enough, on the next day, all the media tycoons were interviewed in their respective newspapers and said some words.

First was Redstone from Viacom, who was interviewed by the Boston Globe in his hometown. When asked about his opinion on this merger and acquisition case, Redstone said rarely:

"There is no news in advance, this is a strict secret."

For people like Lei Shidong, this statement is equivalent to giving up in disguise. This actually makes sense. Lei Shidong is a typical old-school rich man. He can measure a person's value by his ability to fuck him

How many assets you get will affect the lives of people.

Disney's $19 billion acquisition of ABC has far exceeded his Viacom acquisition of Paramount. More words are equivalent to insulting himself.

Another media tycoon, Rupert of News Corp., also accepted an interview. Instead of reporting from his own newspaper, he chose the Wall Street Journal to speak out. Perhaps it was because most of his newspapers were gossip tabloids, or

Serious financial media like the Wall Street Journal deserve their identity.

When asked about their opinions on this merger, Rupert simply admitted defeat, "Now they are twice as big as mine."

Of course, if you look at the value of the entire group, Disney/ABC is almost twice that of Fox TV and Twentieth Century Fox Films. Although Rupert has a higher personal wealth than Eisner, Eisner is like this

It is expected that people who desperately try to distribute dividends and issue options in the future, and the gap between the two will only narrow.

Paul Faxi, chief financial reporter of the Washington Post, said in the report that "this move has made Disney a leader among global entertainment giants."

This represents the view of other serious media. What surprised everyone the most was not their confidentiality, but the hugeness of this media group after the merger.

Of course, very good confidentiality is also a point that the media likes to mention. This point was regarded by the Los Angeles Times as the center of the report.

This is also because the object they interviewed was Katsenberg of DreamWorks, Eisner's closest friend and subordinate, and now his mortal enemy.

Because of the relationship between Katzenberg and Eisner, Katzenberg did not obtain valuable information in advance. He thought Disney would buy CBS. "All my guesses are wrong. This acquisition

It was completely out of my expectations.”

"Hollywood, Wall Street, and the entire entertainment media industry were caught off guard by this acquisition." Los Angeles Times entertainment reporter Claudia Eller used this conclusion to end the full page's special report.

For the financial edition of the same newspaper, reporter Tom Petruno focused on the market reaction after the merger and acquisition. He commented: "Synergy, one plus more than two, this argument has been abused on Wall Street, but many large-scale ones have been large-scale.

Investors believe that the merger has more real synergistic potential than most previous transactions.”

This chapter is not finished yet, please click on the next page to continue reading the exciting content behind! Of course, in media reports, this kind of heartfelt or insincere congratulations and praises are not all about this heartfelt or insincere congratulations and praises. Some industry insiders are not particularly satisfied with this merger and acquisition.

Howard Stringer, chairman and CEO of TELE-TV, also interviewed by the Wall Street Journal, figuratively pictorially: "It's like Godzilla marrying King Kong, for other competitors, the jungle will become

More empty and lonely.”

This metaphor is understood by people working on Wall Street at a glance. He is talking about one of the two largest players in the fields of television and film production. After the merger, he established a monopoly advantage over other players.

This advantage will become greater and greater.

Some are justified by metaphors. Especially the New York Times, they have always stood on the side of self-proclaimed progress and equality, and did not give any favors to such large capital mergers and acquisitions.

Their interviewees are also a liberal professor, Rutgers University, who is also a lot of liberal professors. Professor Benjamin Barber wrote in an op-ed article: "This vertical and horizontal corporate integration, the fashionable saying is 'synergy', but in fact, it is

, It's just another saying of monopoly."

What is unexpected is that Warren Buffy also expressed his opinion. He accepted an interview with Reuters, and Buffy's comments were concise, "This is the combination of the world's number one content company and the first distribution system.

”

One of the important reasons why he broke his usual silence and expressed his views on this is that he is an important shareholder of ABC's parent company, City Group. Just like the Bass family owns more shares in Disney, but never interferes.

Like Eisner's business, Warren actually adopted a financial investment attitude towards ABC, allowing the ABC management team, which he thought was very competitive, to play a role, and he only enjoyed the excess returns brought by their business operations.

.

But the prospect of the merger between the two is not particularly good in Buffy's opinion. The biggest problem is that this merger has exhausted more cash resources from the two companies, and the current valuation of $19 billion is

Buffy seems too high.

In addition, after Ronald told him about Eisner's business style, he had no confidence in the management after the merger. It would be better to find a high point to sell the original shares and withdraw the profit after the merger.

It's right.

...

"Mr. Li, we are reporters at the Wall Street Journal. What do you think about the merger and acquisition cases between Disney and ABC."

Of course, the media did not let Ronald go. The Wall Street Journal, the New York Times Washington Post, all three major newspapers asked him for interviews. Ronald chose less political background and more professionalism in finance. Wall Street

daily.

"Okay, my opinion is very simple. This is a giant among giants... This company will have enough strength to achieve almost any goal."

What Ronald is more afraid of is that some media will misinterpret his meaning. After the report was taken out of context, it affected his relationship with Eisner. Ronald, the chairman and CEO of such a new achievement, is the chairman and CEO of the Hollywood giant.

Like everyone else, he was afraid.

Among the three major newspapers, the Wall Street Journal only likes to talk about some professional company operations analysis, and there is no risk in accepting their interviews. Moreover, the Wall Street Journal's report also agreed to include the interview content and other related reports by Ronald Media.

The New York Daily News, a subsidiary of the group, was reprinted.

"What do you think about content-distribution Eisner has talked about business strategies many times?" The Wall Street Journal continued to ask, and they are very happy that an industry insider is willing to talk about Disney/ABC's strategy.

"This is a very good strategy, two simple words that tell the fundamental content of the media industry." Ronald also maintained an objective evaluation method and did not make any subjective regarding Eisner and this merger case.

evaluate.

"How do you evaluate Mr. Eisner's strategy to enter China and India at the press conference?"

"Oh, is it? He wants to enter India and China?" Ronald paused, thought for more than ten seconds before answering cautiously, "My guess is that Mr. Eisner has a crush on two

The population potential of the country. If I had no basis for guessing, maybe Disney/ABC would focus more on sports and family TV content than on news.”

...

"Dear, don't go out today. It's not very good to spend time with me at home, drink coffee and read the newspaper."

The next day, Eisner's wife first made a cup of black tea for him, and then tactfully proposed that Eisner no longer go out to play golf. After the operation, it is best to stay at home for a longer rest.

"I'm not going out to play. The most important thing after acquiring ABC is to make everyone stable. So I will join ABC CEO Murphy to participate in their Ace Morning News program: Good morning, Ameriga."

Eisner didn't want to treat his wife at home. He took a sip of tea, ate some breakfast, and then slowly appreciated the series of reports on his merger and acquisition actions in today's newspaper. He would still be happy when he saw it.

laughing out loud.

Among these reports, Warren Buffy's evaluation of him was the most satisfied with him. Not only because Warren is the leading investor of America, his positive comments represent his optimism about this merger.

And because Buffy's company Berkshire Hathaway is an important shareholder of ABC, such a statement will help the stock price stabilize in the future.

What made him most happy was the reports of accusing it of forming a monopoly or comparing mergers and acquisitions to those of Godzilla and King Kong’s marriage.

It is no exaggeration to say that the fundamental purpose of this merger is to form a larger-scale and higher-dimensional monopoly. Although Eisner must not admit it so when he was outside the outside world, otherwise it will cause an anti-monopoly investigation by Congress.

The metaphor of Godzilla and King Kong's monster made it laugh even more. There were only a few monsters left in the jungle, becoming the combination of two of the most terrifying monsters in Hollywood movie history.

The competitors in the industry can give him the highest praise.

Seeing the back, Eisner frowned again. In the interview, Ronald specifically said something that it would be better to start expanding from sports and TV series in China and India, which made him feel a little inappropriate.

.

When communicating with high-level leaders in China, different situations will definitely occur in different countries, and there are various regulations on Ameriga's TV station. This may be a masterpiece to start with sports competitions that everyone likes and TV series!

Eisner immediately called to learn about the sports competitions and TV series in China. He was surprised to find out whether it was the popular NBA basketball games and the most popular family TV series there.
To be continued...