[Chapter 900: We Are in Trouble]
Richard Lovett rushed about attending to the potential trust crisis at CAA. Just a few kilometers away, the MGM headquarters in Century City was not at peace either.
It had barely been an hour since the news broke that the 007 series would be recasting its lead role, and already a crowd of movie fans had gathered outside MGM's headquarters, protesting the studio's decision to replace Pierce Brosnan. A group of reporters from various media outlets also camped outside the MGM entrance, eager to gather further news. To prevent any incidents, Amy Pascal had to send most of the company's security personnel outside to maintain order.
MGM's stock, which had been soaring following the box office success of Casino Royale, suddenly began to fall in response to the announcement. With the continuous acquisition of E! Entertainment, investments in the Lord of the Rings trilogy, and the upcoming potential equity deal with Rainbow Media, MGM was already in a tight financial situation. Now, as the stock price took a hit, it was certainly bad news for the company.
In the hour following the news, the mobile phones of several senior MGM executives were bombarded with calls from all sides. One board member had even flown in from New York to Los Angeles and demanded an emergency board meeting to reconsider the decision to replace Brosnan.
Since MGM completed its last round of stock issuance, Drew's shareholding had decreased to 33.5%, while the shareholding of LTD had slid down to 8.4%. The French media giant Vivendi, which had participated in the MGM acquisition, held 16.8%, and several European film funds held another 15.1%. The remaining 26% of shares were all floating stock. Given their European origins, Vivendi and the other film funds had naturally banded together. Although they were unlikely to gain control over MGM, the studio's management could not entirely ignore their influence.
The board member who had rushed to Los Angeles, Pierre Truc, was the spokesperson for Vivendi and the other film funds on MGM's board. The MGM board comprised seven members in total, four of whom were independent directors appointed as per SEC regulations, while the other three included Drew, Amy Pascal, and Pierre Truc, who was also the CEO of Havas, a subsidiary of Vivendi.
...
At the end of a corridor at MGM's headquarters, Amy Pascal hung up the phone with Richard Lovett. Her expression showed relief as she handed her mobile to an assistant, instructing her to take calls that might come through. She then pushed open the door to the conference room.
Inside the conference room, Drew, Frank Marcasso, and John Calley were discussing casting plans for the Lord of the Rings trilogy with Peter Jackson. Over the past two years, Peter had directed a low-budget thriller mainly to hone his skills, but most of his energy was still devoted to preparing the Lord of the Rings series. He had not only completed all the location scouting for the film but also interned for three months in the Australian digital effects division earlier that year, gaining a detailed understanding of the CG effects production process. Now, the entire Lord of the Rings trilogy was firmly planted in his mind. Once he secured the budget to begin production, he felt 100% confident in his ability to bring Tolkien's legendary epic to the big screen.
When Peter noticed Amy Pascal entering, he paused, fully aware of the day's events at MGM. Both Frank Marcasso and John Calley turned to look at her, realizing that despite having completed the acquisition of MGM and considering the studio's potential resurgence under Firefly Group's support, they had chosen to stay. Now, their initial decision seemed justified. Yet, the day's events had taken them aback, making it hard for them to believe that Eric was truly willing to let go of Brosnan. Although they had turned off their phones, the echo of incessant ringing still resonated in their minds.
Drew looked up but showed no signs of concern, as long as it was Eric's decision. She didn't mind if MGM went under. Noticing the puzzled expressions on the others, she asked, "Amy, who was that now?"
"Richard Lovett," Amy replied, taking a seat beside her. "Richard just hinted to me that this seems to be Rick Kozman, Brosnan's agent, acting on his own. Richard has already fired Kozman. Drew, they want to renegotiate."
Though she had heard some whispers, no one in Hollywood had full details on Rick Kozman's unilateral refusal of the 007 contract, thanks to Richard Lovett's efforts to keep things under wraps. Drew took Amy's mention of Richard's 'hint' as a pretext, perhaps something Richard hoped for.
However, Drew clearly didn't care much about that, saying, "If they want to refuse, they refuse. If they want to renegotiate, then they renegotiate. Is this some kind of joke?"
"Drew, I think there might be a misunderstanding. Logically, Brosnan wouldn't just outright refuse Eric's offer," Amy continued, trying to reason. "And letting go of Brosnan doesn't benefit us in any way. We're about to proceed with debt financing, and Morgan Stanley has called, expressing concern that replacing Brosnan could negatively affect market interest in MGM bonds."
Drew blinked twice and shrugged, saying, "Why don't you discuss this with Eric? I'm just a puppet here."
...
"Right now, there's a rumor that Brosnan seems completely unaware of the compensation terms you proposed. While you were in a meeting this morning, Amy called again to say that CAA hopes to renegotiate." At Firefly's Burbank headquarters cafeteria, Kelly sat with Eric over lunch while relaying the morning's events.
Eric took a bite of his pasta and looked up. "Do you believe Brosnan really doesn't know?"
Kelly thought for a moment. "I think even if that's true, CAA would turn this into fake news. After all, if they conceal something this crucial from their client, CAA would be in big trouble. No star would want a meddling agent managing their affairs. However, the agents at CAA are likely not foolish enough to hide that from Brosnan, especially when it's a $70 million contract."
"So?"
"Therefore, this might be a fabricated message from CAA, aimed at finding an excuse to salvage the situation."
Eric chuckled but didn't respond. He changed the subject, asking, "So, have you picked out a candidate for my new personal assistant?"
Kelly wanted to ask Eric about his true intentions but instead replied, "There's someone quite suitable. But I also think she shouldn't be sent to a guy like you."
"Oh, so you'd rather handle that yourself," Eric teased, noticing her face turn red, he added, "You mean Caroline, right?"
Kelly nodded, "I've talked to Caroline, and she's quite interested. But, Eric, Caroline is a really nice girl; you better not hurt her."
Eric thought for a moment and admitted he couldn't promise that, responding, "How about we find someone else?"
Kelly shot him an exasperated look but replied softly, "Eric, I can see that Caroline is really looking forward to being by your side. So if you aren't up for that, you better talk to her yourself, and preferably, transfer her to another position. You know what I mean."
Eric hesitated but serious nodded, "Alright, I'll find some time these next couple of days."
Just as they spoke, Eric's phone rang. After answering, he exchanged greetings, and with a faint smirk, he said, "Amy, do you think it's still ten years ago when agents could just stroll into the executives' offices at movie studios?... Alright, if they genuinely have sincerity, forget about the split contract; it's still yesterday's four-film deal at $60 million. We can sign tomorrow morning. I don't care if Brosnan is truly unaware; if he is, that's his own mistake. This is his last chance... Pierre Truc? I don't know him, and I'm not interested. Just get rid of him; I'll be heading to San Francisco this afternoon. That's it; no more calls."
Kelly watched Eric hang up, casually tossing the phone aside, and couldn't help but remind, "Eric, Pierre Truc is the spokesperson for MGM's European shareholders."
"I know," Eric responded.
Kelly paused, surprised, "Then why are you...?"
"Let's just pretend I don't know," Eric shrugged, looking at her astonished face. He sighed, "Perhaps everyone thinks I'm being a bit obstinate now, don't they?"
Kelly noticed the subtle loneliness in Eric's demeanor and instinctively shook her head, only to gently nod moments later.
Eric merely shook his head again, stating, "From everything that has happened today, you, Amy, and so many others around are all caught up in Hollywood's existing rules. Everyone seems to believe that with the box office success of Casino Royale, Brosnan deserves a $100 million payday for being the lead, but I never saw it that way. I never believed Brosnan was worth that price. Hollywood has no shortage of actors. Even if I offered a hefty weekly salary to recruit a new 007, people would line up from Malibu all the way to Burbank for the job. So, starting from today -- no, since yesterday -- I will slowly show everyone that nothing is as it seems. If you want something to be assumed, you might as well go back to the Golden Age of Hollywood when everyone thought it was normal for actors to get a standard weekly salary."
Kelly silently observed Eric's increasingly resolute tone, finally grasping some of his intentions. She softly replied, "But that's going to be very difficult."
"Look," Eric said, setting his utensils down and gesturing in the air. "I now own half of Hollywood; I'll definitely own all of Hollywood in the future. So this isn't going to be that hard."
...
"Damn it, damn it, damn it!" At the CAA headquarters, Richard Lovett fumed, nearly jumping up as he repeatedly cursed, smashing his mobile phone on the floor. The shattered pieces flew in all directions. Taking a deep breath, he roared, "Peter, bring me a new phone!"
An assistant cautiously opened the door and handed him a new phone.
Richard took the phone, pressed a few buttons, and then threw it to the ground. He yelled at the door, "Peter, you can leave! Eric, oh no, I never want to hear that name again. Whoever is next, you can go too. Is there anyone alive left to bring me a phone with a contact list?"
Just seconds later, as Richard couldn't help but prepare to kick down the office door, it finally opened again. A terrified young woman pushed the door open, holding a phone, "Mr. Lovett, here, here you go."
Richard snatched the phone, opened the contact list, quickly found a number, and dialed it. His tone dropped several degrees as he greeted warmly, "Hey, Terry, it's me... Haha, yes, I'm definitely in a bit of a pickle today. This is quite urgent; you've got to help me. I remember you know Pierre Truc, that MGM board member... Of course, about Brosnan and MGM's contract... I know this was a decision made by Williams himself, but I have to try. I heard Pierre just arrived in Los Angeles. Can you help me set up a meeting with him right after he lands?... Thanks a lot. Oh, Lina wants to go to the opening party for the Titanic exhibition. No problem, I can send a few tickets to your house this afternoon. That's settled. And yes, I owe you one. I will never forget it, in this life. Alright, alright, I'll make it up to you one day, haha."
After a hearty laugh, Richard hung up and dialed his business partner David O'Connor's number. In a low voice, he said, "Buddy, we're in trouble now. There's no time to explain everything; what I need you to do is arrange for people to contact the newspapers immediately. There has to be an article in tonight's evening edition claiming Brosnan is deliberately pretending to be unaware of MGM's salary conditions to salvage his contract, the more articles, the better, got it?... That's it. I need to rush to the airport. And keep feeding him, pampering him, and stalling for time as much as possible."
*****
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