[Chapter 693: Meow]
Under Eric's strong insistence, the investment negotiations with Qualcomm were finalized on January 21st, the day of the Golden Globe Awards ceremony.
Qualcomm's shareholders and management understood that reaching an agreement with the financially strong Firefly Investment as soon as possible would be beneficial for promoting CDMA technology. Therefore, they did not take advantage of Firefly's urgent attitude and simply requested that the final investment amount be determined based on Qualcomm's stock price from the day before the deal was reached.
After news of Firefly's contact with Qualcomm spread, Qualcomm's stock surged 21% in a mere week, reaching $23.8 per share. Firefly was ultimately required to pay $238 million for the 10 million shares of Qualcomm's directed share offering. This price was well within Eric's tolerance, prompting him to personally rush from Los Angeles to San Diego early that morning.
After the signing ceremony in the morning, Eric, Chris, and Qualcomm's Irwin Jacobs, along with other senior executives, retreated to a conference room to discuss the next steps.
After discussing the lobbying strategies for telecom operators and Qualcomm's plans to build CDMA equipment factories, it was already five in the afternoon. Chris and Irwin Jacobs had scheduled a meeting with the CEO of Verizon for the following day, and they couldn't wait to board the flight to Verizon's headquarters in New York. After seeing off Chris and Irwin Jacobs, Eric returned to Los Angeles with his entourage.
Securing Qualcomm marked another crucial move for Eric in the already rising high-tech industry.
Eric's mind shifted to the companies under Firefly's portfolio, which included Cisco, Yahoo, Nokia, and America Online. According to the original historical trajectory, aside from Cisco, the other three companies would gradually decline in the coming years.
Eric had read articles about why Nokia fell from grace. These high-tech companies lacked neither funding nor technology during their development; the root cause of their decline lay in major missteps in their development direction. As long as Eric maintained sufficient control over these companies, he was confident that, given his second-chance advantage, he could steer them on the right path for at least the next twenty years.
...
As the black Rolls Royce sped along the Pacific Highway between Los Angeles and San Diego, the sun dipped low on the horizon, casting a magnificent orange hue over everything in sight.
Inside the car, Eric kept his eyes closed in contemplation, while Kelly, seated beside him, quietly flipped through a document, not wanting to disturb his thoughts.
After some time, noticing Eric suddenly open his eyes and sit up straight, Kelly looked up and asked, "Eric, what's wrong?"
Eric turned to Kelly and asked, "I remember seeing a merger proposal from Cisco's higher-ups a few days ago. Do you recall that?"
Kelly nodded. "Yeah, they're planning to acquire a network switch company in Seattle, and the preliminary negotiation price was $1.9 billion, using a stock-swap method."
"What will our ownership percentage be after this transaction?"
Kelly thought for a moment and replied, "Cisco's current stock market value is about $16 billion. After the acquisition, it will exceed $18 billion. Our shareholding will drop from 23% to 20.5%."
Eric shook his head. Although Firefly would still be Cisco's largest shareholder at 20.5%, their control would diminish. Even though Cisco historically maintained a strong industry position and Eric had no intention of interfering in its management, he realized that the dilution of Firefly's stake in Cisco could not continue, even if this diluted share would still represent substantial wealth in the future.
"We can't let it drop any further. No, not only that, but we need to increase our stake in Cisco again. Contact Chris tomorrow and have the Cisco management change the merger method to a cash-plus-stock arrangement, ensuring our shares aren't diluted again. Also, discuss a proposal to increase our stake back to 30%."
Kelly asked, puzzled, "Eric, weren't you planning to invest in the telecom industry? Given Verizon and Sprint's current scale, either of them would require over $1 billion for Firefly's investment. If we want to raise our stake in Cisco to 30%, given the premium factors, we might need to invest $2 billion, and there's no guarantee any investment firms would be willing to sell their shares."
Eric felt a twinge of generosity at the thought -- $2 billion was over twenty times the amount Firefly originally invested in Cisco, yet it would only buy less than 10% of the shares. It seemed that the days of 'scooping up bargains' were coming to an end. However, considering Cisco's future value, this additional investment was definitely worthwhile.
Firefly Group had just completed a very profitable fiscal year. Eric had expressed feeling overwhelmed by too much cash recently, but now he realized that if he wanted to continue expanding, their funds were far from sufficient. In the past, he had toyed with the idea of some major investments but always hesitated, feeling the returns weren't high enough. This time, however, he experienced a revelation; constantly looking for 'bargains' was not the right investment mindset, it was pure speculation. Like warfare in the age of cold weapons, winning a few battles with underdog strategies could work occasionally, but if one always sought to turn the tables that way, it would surely lead to defeat in the end.
"The profits from Firefly Group should be able to cover these plans. If not, I will consider financing from other sources. You just need to proceed."
Kelly nodded, making a note of Eric's instructions. As she looked out the window, they were about to enter Los Angeles, and she asked, "Eric, the Golden Globe Awards ceremony should have started by now. Are you going to the Hilton?"
Outside, night was falling. Eric checked his watch -- it was 7:30. With his status, even if he rushed over now, he wouldn't be turned away from the banquet hall. However, it didn't really seem necessary. Looking at his assistant, who sat beside him in a fitted black suit, exuding intellect, Eric smiled and responded, "I'll skip the commotion. Nina is at boarding school today, right?"
Kelly blushed slightly and nodded.
"Then let's find somewhere to have dinner first, and then we can go to your place."
The assistant fiddled with her clothing nervously and said softly, "Or, we could just go straight to my place. Eating out makes it easy for us to be spotted..."
"Sure, let's do that."
...
"There's no doubt, and it has nothing to do with the film. It's just another victory for men. A self-righteous film like Braveheart, overflowing with fabricated historical facts, completely overshadowed Saving Private Ryan, a film vastly superior in every way, simply because the director of Saving Private Ryan is a woman. This once again proves Hollywood's deep-rooted sexism. In this industry, no matter what a woman accomplishes -- no matter how many feats that even men have difficulty achieving -- she still won't receive recognition. In the end, I can only helplessly ask, does it really have to continue like this?"
The day after the Golden Globe Awards, a well-known female columnist for the Los Angeles Times published this impassioned commentary in her personal column, igniting a significant media discussion about gender discrimination, including various queries and discussions regarding the plots behind the Golden Globe nominations.
The issue stemmed from the 52nd Golden Globe Awards, where the highly anticipated Saving Private Ryan lost in four categories it was nominated for, including Best Picture, Best Director, Best Screenplay, and Best Score, only for Tom Hanks to win Best Actor.
While many professional critics recognized that both Braveheart and Saving Private Ryan were on par artistically, there remained a significant portion of critics who instinctively leaned towards the culturally resonant Saving Private Ryan. With no strong competition, Tom Hanks winning Best Actor was almost a given. Before the ceremony, most discussions revolved around who would win Best Picture and Best Director.
After Saving Private Ryan left empty-handed, many who previously identified with it turned to disappointment and doubt. Feminists protested against the Golden Globe's selection committee for the sake of the female director, Kathryn Bigelow, even urging Hollywood actresses to boycott the ceremony.
In response to media scrutiny, the Golden Globes committee, as it had in the past, chose to remain silent. Such doubts about the awards occurred almost every year, and as long as it didn't escalate into chaos, not responding became the best handling approach. Responding might show insecurity and only make the situation worse.
...
In the following days, the nominations for the 67th Academy Awards were announced, sparking renewed media buzz about Braveheart, this time focusing on Mel Gibson's nomination for Best Actor. The Golden Globe nomination for Best Actor had already caused discontent among critics, many of whom felt that Mel Gibson's performance barely qualified and did not merit award consideration. Most media outlets believed the Oscars would be more judicious than the Golden Globes and would not hand Gibson a Best Actor nomination so lightly; however, the outcome left many feeling as if they had swallowed a fly.
Critics, still irate from the Golden Globe injustices, hastily directed their ire towards the Oscars, resulting in yet another discussion surrounding the awards' legitimacy.
Ordinary people had no idea how many events had transpired and merely followed the unfolding debates with interest. As the topic gained traction, more media outlets began to dive into the discourse, finding various angles to engage viewers or readers.
Most hadn't noticed that amidst this heated discussion, the already off-screen Saving Private Ryan quietly sold 670,000 videotapes in the following week, bringing in sales equal to the previous two weeks combined, generating $20 million in tape sales for Firefly.
Meanwhile, the still-released Braveheart's weekly box office soared by 60% post-Golden Globe, reaching $11 million -- a cumulative box office past $73 million. The Weinstein brothers were naturally ecstatic, stepping up their promotional efforts.
In the whole affair, Mel Gibson bore the brunt of it; discussions surrounding his Best Actor nomination and the controversy regarding Hollywood's gender bias had considerably diminished his chances of winning Best Director.
...
"He already received a paycheck of $18 million and will take 10% of future profits. Fox owes him nothing. Harvey originally wanted to leak those anti-Semitic leanings of his, but I stopped him. Hmph, if it weren't for the fact we're both Australians, I wouldn't have even bothered."
In Beverly Hills, at Julia Robert's and Elisabeth's mountainside mansion, Elisabeth reclined in a crisp white shirt and jeans, wearing sunglasses, as she leaned against a sunbed by the pool, addressing Eric, who was reading a script on another deck chair.
Eric flipped a page in the script, simply nodding in acknowledgment.
Elisabeth's eyes narrowed in dissatisfaction, and she pouted, saying, "Eric, I heard you brought on two rookie directors and gave the one for The Matrix a shot. Aren't you afraid of messing it up?"
"Technically, it's three," Eric casually corrected.
"Of course, I know. The Wachowski brothers, right? So, what makes them special?"
Hearing Elisabeth's slightly gleeful tone, Eric chuckled, "Don't worry about it. They're all contracted for three films with Firefly for at least five years, so they won't be directing for other companies, unless I release them."
Having decided to utilize the Wachowski brothers and Michael Bay, Eric certainly didn't want them to succeed with a big box office hit and then jump ship, so he had them sign Hollywood's standard option agreement, which required them to direct at least three films for Firefly before considering other offers.
Of course, to maintain good relations with these potentially valuable directors, Eric hadn't imposed rock-bottom pay typical of many option agreements. He advocated suppressing the excessively high salaries of Hollywood stars but wouldn't exploit the creative talents of filmmakers. A win-win was essential for a healthy industry cycle. The agreements Eric offered were fair, and both the Wachowski brothers and Michael Bay readily signed.
Elisabeth mistook Eric's comments for a traditional option agreement and grunted mockingly, "I think you're the 'greedy Jews' Mel Gibson was talking about."
Eric shrugged off the racial jest without a second thought, saying, "Who knows? Everyone trying to make it in Hollywood wishes they could be a Jew."
As they were chatting, Julia quietly approached with a tray of cut fruit and placed it on the small round table next to Eric. She gently nudged him to the side, snuggling up to him as they shared the wide beach chair, basking in the sun.
Elisabeth complained, "Julia, where's my fruit platter?"
Julia wrapped one arm around Eric's waist and adjusted her position for comfort, enjoying Eric's heartbeat and the warm sunlight, lazily saying, "You can make your own."
"Tsk, tsk, like a cat, a spring cat at that."
Julia ignored her, Eric smiled and touched Julia's face against his chest: "Kitten, meow."
"Meow..."
"Ugh, you two are disgusting," Elisabeth said, mimicking dry heaves before casting a glance at Eric's script. "When will you finish reading? What do you think of it?"
"You know, I just can't muster any energy for things that don't interest me."
"Is this script really that bad? I put in a lot of effort and even researched lots about little animals."
The script in Eric's hands was the one that had sparked The Nut Job idea after both he and Elisabeth saw a little squirrel at the outdoor cafe. Elisabeth collaborated with a few writers during that time to flesh out the story.
"It's not terrible, but there's nothing particularly eye-catching. If you really want to see something, I can get you a copy of the Disney animation story that's in the works, so you can see what imagination looks like."
Elisabeth leaned back into her chair. "If you don't think this story is good, then why bring Chris Wedge from Blue Sky Studios? I checked that studio's portfolio; they've done effects for big films but haven't stepped into animation yet. He can't compare to the folks at Pixar!"
Eric closed the script, picked an apple from the fruit plate, and took a bite. "Your story may be average, but it can allow them to hone their skills by creating a short film."
"Why not just spare me some people from Pixar?" Elisabeth shot back, "Like they do with Disney animations?"
Eric shook his head. "Don't set your sights on Pixar. But I'm not giving this studio to you. We'll split it, I've decided -- 10% left for the management, and Firefly and Fox will each take 45%."
"You already have two animation studios!"
Eric laughed. "If not for the fact that some animated ideas don't fit Disney's distribution style, I wouldn't mind having Firefly own another animation studio."
"Wow, you greedy Jew!"
*****
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