Chapter 1175: Clearance
For listed companies, negative news is bad news, and the financial market will definitely react.
As the Hollywood mystery was exposed by the media, not only Hollywood companies such as Disney, Time Warner, and 20th Century Fox, but also global media stocks, all saw their stock prices plummet.
Among them, 20th Century Fox had the biggest drop, with a single-day drop of 8.4%! Because of the bad relationship with New Universal, it may involve the suspension of the "X-Men" series of comics.
Even well-capitalized Time Warner fell 2.5%.
The ratings board scandal is far from over.
Although the media did not find Dunn, they have contacted the film and television entertainment department of New Universal.
The newly-appointed Fernando Baden and Moritz Eckhart changed their low profile and accepted interviews with the media completely in accordance with Dunn's style.
Fernando Bardem said: "This is a savage plunder! It's hard to believe that this will be an act in a market economy. Warners lacks a good project theme and wants to restart "The Lord of the Rings" and create three "The Hobbit" movies Qu. If they could talk and negotiate and solve the problem through negotiation, we would definitely welcome it with raised hands. However, they tried to force us to submit in this way of jointly controlling the MPAA and threatening us, which is impossible!”
This is a typical open-eyed nonsense.
The reason why Warner took the lead in provoking the trouble is because the communication was fruitless. New Universal refused to agree to join hands with Warner to create the movie "The Hobbit". Warner even issued an extreme agreement of half the copyright, and New Universal still did not agree. to be moved.
You know, Warner has the production rights, and New Universal has the distribution rights. For a movie, the ratio of production rights to distribution rights is usually 4:1!
Warner can be said to have shown great sincerity, but New Universal just disagreed.
No way, Dunn is still thinking about creating a huge TV series of "The Hobbit", waiting to eat alone. Don't want to share the benefits with Warner at all.
In contrast, Moritz Eckhart's speech was much more true, and he aimed at Disney.
"Disney has not had a good time since 9/11. New Universal and Disney have always had a good relationship, and to help Disney get through this difficult time, we sold our valuable animation asset, Silkwood Animation, to Disney. Seeing that Disney lacked excellent movies, Rose Pictures also cooperated with Disney to develop a live-action version of the princess cartoon series. However, now that the live-action series has been successfully developed, Disney has regretted it and is unwilling to share the copyright with us. Isn’t it ungrateful to develop together and want to eat alone? We want to stick to the contract and refuse to give up the copyright, so they make trouble in the rating committee, this kind of behavior is disgusting!”
This is a fact.
In the past six months, Disney's life has been very difficult!
The market value has evaporated by 35%!
The media giant, whose market value was close to $60 billion, has now shrunk to $37.5 billion.
Why is the relationship between Michael Eisner and Dunn getting more and more bleak during this time?
It is because Michael Eisner has had a very difficult time during this period, the internal contradictions have sharpened again, and there is another force pushing him to step down.
The market value has shrunk so badly, as the CEO, he is to blame!
Like, what happened to Disney?
First, the consumer goods market is eroded.
With the advent of the experiential Universal Store, the days of the Disney Store are getting harder. In particular, New Universal is focusing on building a consumer goods department, which has really eroded Disney's dominance in the consumer goods market.
Second, animation.
In order to regain its position in the animation market, Disney spent more than 2 billion US dollars to acquire the Silkwood animation studio from New Universal. Just in May of this year, the animated film "Bone Treasure Adventures 2" was released. As a result, the film ran into DreamWorks' Madagascar.
After a collision, "Madagascar" grossed $510 million worldwide. "Bone Treasure 2" grossed $54 million in North America and only $140 million worldwide.
The Disney animation industry, which was originally expected by the market, was suddenly pre-cooled and encountered a wave of selling.
Third, movies.
Disney released a blockbuster 'The Iron Fist' this summer. The film brought together Russell Crowe, Renee Zellweger are big-name actors, the production cost of 90 million US dollars.
After the film was released, the word of mouth exploded, and it was well received by film critics. It was called the best film at the box office this summer. It's a pity that I ran into the masterpiece "The Da Vinci Code" by Dunn Pictures. In the end, the film was well received, with a North American box office of 60 million US dollars, an overseas box office of 40 million US dollars, and a global box office of barely over 100 million.
Over the years, Disney has still failed to make a breakthrough in the film and animation market.
It is normal for the market value to plummet.
Last but not least, travel and vacation projects.
New Universal and the Magic City government have reached an agreement to spend $6.5 billion to build the world's largest theme park, Magic City Universal Studios, in Pudong. This is undoubtedly the most threatening blow to Disney.
Michael Eisner also had no choice but to accept the invitation of other giants to join the crusade against New Universal.
Attempt to drink poison to quench thirst.
...
Disney's largest shareholder family is the Bass family, the old man Perry Bass, four sons Lee Bass, Robert Bass, Edward Bass, Sid Bass, a total of nearly 6.7% of Disney's equity. . At today's market value, the shares are worth more than $2.5 billion in total.
The more shares, the more voting rights.
The Bass family is Michael Eisner's biggest backer at Disney. With the support of the Bass family, Michael Eisner can ignore the attitude of other shareholders, money managers, pension fund advisers and even company directors, because directors also serve major shareholders.
However, with the big five alliance and the new global affairs, the direct result is that the stock price of the five big companies plummeted.
On the first day the news was exposed, Disney's stock price plummeted 4.7%!
The Bass family can't take it anymore!
"Mike, Disney's stock is diving, and we have to make a decision." Edward Bass called Michael Eisner.
"What's wrong?" Michael Eisner instinctively felt that the situation was not good.
Edward Bass said: "My father and I have no choice but to sell 135 million shares of stock to raise funds ~www.wuxiaspot.com~ to get through the current debt crisis."
"Debt crisis? You pledged with Disney stock?" Michael Eisner was really **** off.
Edward Bass said: "Yes, I'm sorry. We used loans and Disney stock as collateral to buy a lot of technology stocks. But now Disney's stock price has fallen sharply, and the securities margin financiers are pressing us to repay the loan."
Michael Eisner doesn't know if his statement is true or not, or if he really sees that Disney is hopeless and wants to give up Disney.
Because 1.35 shares of stock... it is exactly all the Disney stock held by the Bass family!
This is for clearance!
"Edward, we have known each other for 20 years. You should understand that Disney is in a period of low prices, and it is not worthwhile to sell shares at this time." Michael Eisner took a deep breath and tried to persuade.
Edward Bass was able to make this call, obviously with his heart, "I'm sorry, our debt crisis is very big, we must solve the problem as soon as possible, otherwise we will go bankrupt!"
Michael Eisner trembled in anger, "135 million shares must not be sold in the market!"
That's 6.7% of Disney's total share capital, and it's too big to be sold publicly, causing turmoil in the stock market. Especially now that investors are less confident in Disney.
The liquidation of major shareholders, doesn't this drive all retail investors to smash together?
"The sooner the better, I need to get rid of this batch of stocks as soon as possible." Edward Bass looked very urgent.
Michael Eisner was even more impatient: "Give me three days!"
He was really **** off!
Fleeting is not good!
