Chapter 658: I want to jump in the queue, but no way
A few years ago, Kirk Kerkorian spent $1.3 billion to re-buy MGM Pictures.
However, the films produced by MGM are worse than each other, and each one loses money, resulting in a deficit year after year.
In the past six or seven years, Kirk Kerkorian has invested another $1.7 billion in order to make up for MGM's deficit and maintain a stable stock price.
In other words, the current MGM studio has no debt.
However, Kirk Kerkorian's total investment for MGM is $3 billion!
Now, Kirk Kerkorian has sold MGM to New Universal for $4.3 billion, which translates to a profit of $1.3 billion.
According to the US tax law, investment profits are subject to capital income tax, and Kirk Kerkorian needs to pay nearly 200 million US dollars in taxes.
So, this 80-year-old guy played a coup.
MGM borrowed $1.3 billion in assets from the bank, and then transferred the $1.3 billion to all shareholders in the name of dividends.
And now the new tax law introduced by the Bush administration, if the company does not make a profit, it has to pay dividends, and the dividend tax can be exempted!
In this way, Kirk Kerkorian successfully converted the capital tax into a dividend tax, and then reasonably avoided tax.
So, MGM's selling price is actually $3 billion, the same as the investment.
However, New Universal has to take on $1.3 billion in debt.
Equivalent to a total value of $4.3 billion.
Such an operation is not harmful to New Universal. Anyway, with the current financial situation, the acquisition of MGM will definitely require borrowing, and there is no difference between first loan and later loan.
Of course, Kirk Kerkorian can play a perfect tax avoidance trick, and the financial staff of New Universal is not a dry meal!
Brandy Norris, chief financial officer and chairman of New Universal's mergers and acquisitions committee, has launched a secretive, high-priority program.
This secret project is mainly to confirm the "net present value" of MGM.
If MGM's price is far lower than what New Universal is paying, that estimate could be used to save a huge amount of taxes.
New Universal's mergers and acquisitions committee, tax department and financial management staff, together with MGM's financial department, cooperate with an outside third-party consulting firm specializing in valuation.
According to Dunn's latest internal valuation report, MGM Studios has a net present value of $1.62 billion.
The calculations are complicated, but the report estimates that New Universal could achieve at least $300 million in tax relief, which would be counted directly into net income.
The specific process is very complicated, and non-professionals can't understand it at all.
Dunn is only half-understood.
However, who is not happy to be able to avoid taxes?
Executives across the New Universal Group are enthusiastic about the potential tax relief.
"It's one of the smartest ideas I've ever heard," Barry Diller exclaimed.
In any case, MGM, the once most brilliant film company in Hollywood, is going to belong to Dunn.
...
Hilda Qualley continues to accept these new actresses for Dunn in her hands.
Even caa, it is impossible to hold all the newcomers out.
At least the dozen or so faces in the past, except for Jessica Chastain, were mostly unfamiliar.
until……
"what?"
Dunn's eyes lit up.
Hilda Querrey smiled, "This is Marion Cotillard, French. She's not new, she's famous in France, but she's new to Hollywood."
To be honest, with big eyes, she is not more beautiful than those in front of her, and her figure is not too prominent.
But... She seems to have a Mona Lisa-like charm, the more she looks, the more beautiful she becomes, the more interesting she becomes.
Tang En held her hand and didn't let go, looking straight at her.
At this level, some words no longer need to be said.
Let alone a French actress?
The French are more romantic and more open.
The French entertainment industry... well, if Hollywood still slips through the net, there will be one or two good people, then the French entertainment industry can be wiped out.
Every one of those directors shouting about new wave art is a bastard!
The same is true for Luc Besson. A few years ago, when Natalie was young, she always praised him, saying that he gave her too much help when he was filming "The Killer Is Not Too Cold".
But with the growth of experience and knowledge, Natalie has stopped talking about the French director who once supported her.
That scandal...more than Harvey Weinstein!
It's just that he is very self-aware. English-speaking actresses usually don't touch, and they are actors from Eastern Europe, Southern Europe, and Asia.
Marion Cotillard grew up in France, and she must have a lot of knowledge to come to Hollywood.
Sure enough, seeing her fiery eyes looking at Dunn, she didn't shy away at all, with a smile on the corner of her mouth, and the boldness of what she said made Hilda Queli stunned.
"Would you like to go to the bathroom, I'll give you a mouth. / Explosion?"
Tang En was stunned for a moment, couldn't help laughing, and let go of her hand, "Are you French people so open?"
Marion Cotillard twisted her hair and asked strangely, "Sir, have you ever met a French actress?"
Dunn smiled and said, "I have had contact with Sophie Marceau, and she is also very enthusiastic...but not as enthusiastic as you are."
"Sophie... is she out of breath?" Marion Cotillard said with a half-smile.
Tang En said sternly: "It can't be said that next year, we will start the "Mrs. Smith 2" project, and then she will return to the mainstream career."
"Next year...she will be thirty-eight years old."
"Oh?"
Dunn glanced at her lightly.
Marion Cotillard met his gaze and said boldly, "She is old, and she has lost the qualification to have a deep relationship with you."
"Who is qualified then?"
"Can't I?"
Dunn smiled~www.wuxiaspot.com~ Marion, you really take the initiative. I have always been diving for others. In front of you, how can I feel like being buried? "
Marion Cotillard took a step forward and whispered, "This is different, you are a man."
Tang En nodded, "Okay, I'll contact you later."
Marion Cotillard looked stunned, "Won't you take me back tonight?"
Dunn didn't answer, but asked: "By the way, do you know Eva Green?"
Marion Cotillard shook his head.
"Dream of Paris" has not yet been widely released.
Dunn said no more.
Tonight, Monica Cruz and Jessica Chastain are enough.
As for Marion Cotillard, let's hang on to her for a while.
If you want to get into my bed, you have to queue up slowly, okay?
Want to jump in?
Bring Eva Green here!
...
On September 26, New Universal held a press conference to announce that the MGM acquisition was officially completed!
New Universal will acquire all of MGM's assets by paying $3 billion and assuming $1.3 billion in debt.
Because MGM Pictures is a listed company, the delisting and the formal acquisition will be completed, at least until February next year.
However, the market reaction brought about by this transaction was reflected on the day of the press conference.
The most direct is the serious decline in the stock price of Besta!
MGM owns a huge movie library. Now that MGM belongs to New Universal, how can Blockbuster survive?
In addition, another company in the hands of Kirk Kerkorian, MGM Hotel Group... The stock price also soared 5.6% on the day!
This news made Dunn furious!
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