Chapter 915 Admonishment

Tang En is the big boss of New Universal, here, he can make almost any decision he thinks is correct.

However, there are always people who have different ideas.

"Twain, trading is not the essence of New Universal, and management is the most important thing. Trading is a means to achieve the goal, for producing TV series, producing movies, building theme parks, granting franchise rights, and attracting talents .But deals can’t come first. For mergers and acquisitions, I think it’s like any other job.”

Within New Universal, there were not many people who dared to oppose Tang En's decision, or raised some objections, and Barry Diller was undoubtedly one of them.

Barry Diller came to Tang En's office and said earnestly, "We don't need mergers, we don't need overly expensive movies or TV shows, we don't need actors who pay sky-high prices, and we don't need to be expensive even if it fits our strategy. Ridiculous company asking prices."

Tang En smiled, "Did you mean Prada?"

"Not only that."

Barry Diller shook his head, "In the past, New Universal... or Twain Pictures, in order to struggle forward in the industry, always took some risky actions to fight for the chance of survival. But it's different now, New Global is already a leader in the industry, what we need now is not risky action, but step by step."

Tang En didn't think so, "Whether it's the past, present, or future, the sense of crisis is the foundation of New Global!"

"Crisis awareness is important, but it cannot be merged blindly."

"Blind?"

"We don't know the fashion industry, no one has the experience."

"Business rules are always interoperable. LVMH can achieve today's achievements because it was taken over by a real estate family, not a luxury family."

Dunn is very firm in his decision to acquire Prada.

fail?

almost impossible.

Even if the industrial integration between Prada and New Global is not good enough, there is no possibility of loss in the transaction. In the previous life, Prada had such a difficult life. After several ups and downs, it was listed in the Hong Kong government. Didn’t the market value exceed 10 billion US dollars?

The current Prada, the market value will not exceed 3.5 billion US dollars!

It can be said that as long as you buy it, you will make a steady profit without losing money.

If the fashion industry can really be integrated into the ecosystem of New Global and perfectly integrated, it will shine brightly and become an important profit segment of New Global.

If Barry Diller questioned the acquisition of Victoria's Secret underwear, Twain might think about it for a while.

There is no need to question Prada!

Tang En did not agree with Barry Diller, but he was stubborn.

The acquisition of Prada is a must!

He slept with Anna Wintour's daughter, and it wouldn't make sense if he didn't buy Prada.

On the way to Legendary Pictures, Tang En was still thinking about it.

Why did Barry Diller turn down Prada?

With his business acumen, he should not fail to see the market potential of Prada.

Universal Pictures is going to make a movie "The Devil Wears Prada", and there will be many big stars joining in.

With the power of a movie and the channel promotion of New Universal, can Prada skyrocket?

Tang En secretly shook his head.

I think Barry Diller may be old and his business strategy is too conservative.

Tang En went to see Michael Ovitz mainly to talk about the financial industry of the film, that is, the insurance business.

Legendary Pictures will go public next year, and its market value should not be less than US$5 billion.

However, the profit growth of Legendary Pictures has almost stagnated. Hollywood's plate is only so big in total. There are more and more companies engaged in platter investment. It is impossible for Legendary Pictures to have more profit growth.

Hollywood is an industrialized market for movies, but the influence of the financial industry on the movie industry has been deeply rooted, and insurance companies play the biggest role in this.

Insurance companies in Hollywood are almost a "package" arrangement.

1. Personal insurance, including the personal insurance of a series of personnel such as producers, actors, stunt personnel, etc., to ensure their personal safety in the process of making movies.

2. Equipment and property insurance, including insurance for props, sets and costumes, cameras, negatives and video tapes, etc., in case these equipment or properties are damaged during the shooting process and increase the extra cost of film production.

3. Errors and Omissions Insurance. Error and negligence insurance refers to the type of insurance that the producer may intentionally or unintentionally infringe on the rights of others such as privacy, patent, and copyright during the shooting process, and thus bear the corresponding civil liability, so as to regulate the behavior of the producer .

4. Comprehensive liability insurance. In the process of filming, the liability risk event may cause personal injury or property damage to others. The insurance company provides physical damage insurance for the production company according to this clause.

5. Completion guarantee insurance.

In addition to the completion insurance being greatly squeezed by the platter investment business, the other four types of insurance business still allow insurance companies to deeply penetrate Hollywood.

Even many insurance companies have specially set up entertainment departments to deal with the business of film and television entertainment.

If it's just insurance, of course it's a good thing.

However, insurance companies have seriously affected the production of film and television works, and have greatly intervened in the selection of actors, script writing, shooting methods, and production processes.

Even superstars like Nicole Kidman, Tom Cruise, and Jack Chen were blacklisted by insurance companies because of frequent injuries, which in turn affected their career development.

Tang En wanted to research another solution to solve this problem.

Hollywood movies are, after all, created by Hollywood.

Why should laymen intervene?

The platter investment business of Legendary Films was considered to be a precedent, and it had a great impact on the insurance company's film completion guarantee business.

If we can set a new precedent, it will greatly limit the power of insurance companies. In other words, let Legendary Pictures directly set up a new financial and insurance department to deal with film insurance business.

That is a great blessing for Hollywood filmmakers.

Assorted platter investment is a successful experience in the previous life. Tang En knew it, so he could easily take it out.

However, there was no successful case in the previous life to kill the insurance company.

Tang En wanted to discuss with Michael Ovitz, but encountered a hurdle that he couldn't get past - the law.

Because of the anti-monopoly law, financial business can only be handed over to third-party platforms, and Hollywood cannot do it by itself.

For example, in the completion guarantee, the investor and the production company are parties A and B, and the insurance company must be a third party.

For example, in personal safety, the brokerage company and the production company are parties A and B, and the insurance company must also be a third party.

Otherwise, there is suspicion of being both a player and a referee.

This is the industry monopoly.

Other problems are easy to solve, and legal obstacles cannot be broken through by humans.

Tang En's enthusiasm was immediately extinguished.

He also wanted to find a new profit point for Legendary Pictures, making Legendary Pictures the largest insurance company in the Hollywood industry. From this point of view, it is impossible.

For Hollywood film and television creation, one must either bear all the risks by oneself, or... one can only cooperate with insurance companies and be willing to be influenced by their opinions.

The idea of ​​the insurance business was not completed, but during the next chat, Dunn heard some other ideas from Michael Ovitz.

It's about Prada.

"At that time, the CAA I managed was in full swing. Later, I switched to Disney, but encountered the biggest trough in my career. If I hadn't met you later and co-founded Legendary Pictures, maybe... at this time, I have already left Hollywood."

Speaking of the events of the year, Michael Ovitz was quite a bit sighed.

Back then, he and Michael Eisner were best friends!

But when I went to Disney, I broke up directly.

"Is this related to the Prada matter?" Dunn didn't understand the meaning of his words.

Michael Ovitz is an old friend of Dunn. In terms of personal friendship, his relationship with Dunn is much closer than that of Barry Diller. He said lightly: "I went to work at Disney, and Eisner transferred all the difficult and complicated jobs to me, and he was directly responsible for all the easy and profitable businesses. Even so, I never What are you complaining about, I work like crazy every day, at least 17 hours a year! I even gave up weekends.”

As he spoke, he shook his head mockingly.

"Do you know what Eisner said at the time? He said that I was giving him eye drops, and that I was giving up the vacation to force him to give up the vacation. I don't have to say too much, because today's Disney , and Disney back then, there is no difference in management.”

Tang En slowly pondered the meaning of his words.

Are you complaining about Michael Eisner's overbearing and authoritarian management style?

To be honest, Tang En didn't mind.

Jobs is more domineering and more authoritarian!

Being capable and domineering is not a shortcoming.

Michael Ovitz added: "Eisner has been in charge of Disney for 20 years, longer than the time of the university president! It is hard to imagine that he is just a professional manager, even Jack Welch can't Do it. How did Eisner do it?"

"Squeeze out those who might threaten his power?" Tang En narrowed his eyes slightly, thoughtfully.

Michael Ovitz said emphatically: "There is no doubt about it! Jeffrey Katzenberg, Steve Burke, Steve Bollenbach, Paul Pressler, Gary Wilson , Meg Whitman, Peter Rummel... Which one of these people is not a top professional manager? Rather than saying that they are senior talents who came from Disney, it is better to say... They are the past few years. Michael Eisner squeezed out possible successors through power means."

indeed so.

Michael Eisner is getting older, and Disney's shareholder meeting has always hoped that he can train or appoint a successor to avoid possible future turmoil.

However, he has been evasive on this issue.

He is Disney's stable number one leader!

Second in command?

No!