Chapter 115: Start with Print Media

Acquiring NBC was like an ant trying to swallow an elephant. Despite the endless skepticism, there was no response from William White. Some people thought it was arrogance, others thought it was indifference, but nevertheless, William White once again stirred up media attention. Everyone was wondering if William White would make a hostile takeover. After all, this guy was quite aggressive. Unfortunately, many people's hopes were dashed. William White started to consolidate small and medium TV stations, with the clear intent of building his own TV network. To reach the number of NBC's users, it would likely take a very long time. RCA's stock price fell sharply. It was only the 1980s, and the Americans still had a few tough years ahead. These current tenures will be a joke by the time companies go bankrupt. ... Finally, the comics in European languages were sorted out. Viking Comics' weekly magazine officially broke the 8 million mark. Marvel was greatly pained by this, and DC was completely hopeless. At this growth rate, this could become another comics giant. Wall Street was surprised to find out it was already profitable? That seemed too easy, right? Comics were considered a low-margin business. Everything needed precise calculations, and advertisers weren't very keen, so unlike magazines, as long as you could maintain distribution balance, you could cover profits with advertisers. This comic magazine seemed to change a lot of people's opinions. You said the advertising effect was poor. Then why was this blasted grape juice selling so well? Actually, the grape juice wasn't selling that well. The main issue was the limited production, which created an illusion of perpetual shortage. This year, grape growers no longer had to worry. Though White Farms expanded its planting area, it didn't increase production quickly, so they still needed to purchase grapes from other farms. The hot sales were just an illusion, but the advertising effect was undeniably effective. The most puzzling thing was that this year's ads weren't for sale; they just kept promoting mineral water and grape juice. These advertising expenses were only symbolic. It was merely left hand exchanging with the right hand. If it were too expensive, there would be a problem of profit transfer, especially since the comic company's registered address wasn't in the U.S. ... "Coca-Cola? Are you saying he's heavily buying in?" "Yes, boss. Besides Coca-Cola, he's invested in many companies. By next year, he'll be listed as a shareholder in several companies." "Tsk tsk, keep an eye on it and see if there's any follow-up action." William White's funds couldn't evade the scrutiny of the nosy. Back then, Nasdaq was mostly small companies; forget about hundreds of millions, tens of millions was frightening enough. "Hmm, what about his overseas accounts?" "Mostly went to Japan, investments in stocks and real estate. Couldn't trace Swiss funds; they're very cautious." The Wall Street tycoons no longer dared to underrate this guy. Currently, gold was in a free fall, and nobody mocked the guy who fervently dumped stocks. He cashed out safely. It seemed that the securities rules were also his expertise. He was playing a long-term investment game and didn't care about short-term stock price fluctuations. ... William White acquired two nearly bankrupt newspapers in Houston, with the cost being almost negligible. There were also three TV stations close to shutting down. The big newspaper groups remained silent. Some of them had been seriously messed with by William White and knew his ways well. It's best not to mess with him. Annoy him and there will be severe consequences. Without any conflict of interest, deliberately irritating a billionaire is very foolish. As a result, negative reports about William White became very rare. Even if they don't praise him, they won't smear him either. It's simple logic. Two small newspapers are still part of the press. It's best for everyone to play nicely on the same platform. William White's team took action everywhere, and in just a week, seven newspapers changed hands. Although they were all regional papers with small circulation, if you add them together, there were close to two million subscribers. This number might not seem big, but for the newly established White News, it was a very good start. "Filson, proceed as planned, and let go of anyone causing problems." "Okay, boss, we'll start integrating immediately." William White didn't intend to make a big fuss, but for those who didn't follow the rules, there was no need to keep them. For these heavily indebted newspapers, sticking to tradition was nonsense. William White's approach didn't entertain that. Things were looking better than he thought. The current situation was very bad, but only a few didn't adapt. These folks were about to crash, struggling just to make ends meet. Now with a savior, if they still made trouble, they'd truly be doomed. ... William White was stirring up excitement here, which of course didn't please Wall Street. This fellow had finally considered entering the waters but was scared off by you folks. What to do now? "Boss, Disney's not doing well now, can we...?" "The question is, does that guy have the money?" "Boss, Disney's loans are in the hundreds of millions, and the company's assets are at most 2 billion. They can't hold on much longer." "Alright, add it to the list and see what they think." That's the problem with not choosing the right company successor. Disney could end up insolvent if this keeps up. Their annual interest payment is 200 million dollars. How many more years can they muddle through? Disney in America has always been in the loss, even until 2008, the losses continued to pile up. Movies? They're simply unspeakably bad. They don't engage young audiences, opting to mess with art films instead, abandoning Disney's entertainment spirit. It's truly despairing. ... "What? Disney? Filson, are you sure Morgan Stanley got it right?" "Yes, boss, they might be considering a bundled sale." "Alright, prepare the data. If I remember right, this company needs at least 2 billion. I don't have that much capital saved up." "That's right, boss. The current valuation is around 2.5 billion. If a complete acquisition is necessary, about 2.8 billion would be needed. Plus, they have over 1.2 billion in loans." "No way? How can they repay that loan? From what I gather, both their amusement parks and film company lose money, and the TV station isn't doing well either. Are they trying to scam me?" "Boss, the think tank doesn't recommend an acquisition. Their organization is extremely bloated. Unless we lay off a large number, profitability can't be guaranteed." "Tsk, that's a real hassle. How am I supposed to lay off people now? The union would definitely go ballistic." "Yes, boss, it would indeed cause major trouble." "Let me guess, Morgan Stanley wants to offer a packaged deal, hoping we'd relist after a revamp?" "That's correct. They think you could pay off the debt within two years and then IPO again, maximizing their interests." "Sigh, what crafty old foxes. I'm not planning to comply. Get in touch with Japanese consortia and see how much we can finance." "Okay, boss." Morgan Stanley really had a way of doing things. William White believed Disney was too weak to resist. Once the banks recalled the loans, bankruptcy would be inevitable for Disney. Talk about a 2.5 billion valuation is pure nonsense. The banks would at most give it a 2 billion valuation, and that's already generous. The Disney family, as the actual controllers, held only 5% of the shares, which they could be ousted from at any time. They're not in charge. Sigh, they chose the wrong investment bank this time. Morgan Stanley was as blunt and forceful as ever. ... "Boss, it's time for lunch." "Alright, Suzuki, what are we having today?" "Boss, the tuna is excellent today, and there's French-style baked snails. The vanilla lamb chop is also very fresh." "Okay, let's eat then." Being looked after by the Japanese employees was quite nice. At least they didn't keep serving him ice water or coffee. ***** https://www.patreon.com/Sayonara816.