Chapter 754: Too Unreasonable

"...After the signing of the contract, espn will receive the exclusive broadcast rights of the nFL's weekly league league and the broadcast rights of the two major bowl finals in 1998 and 2oo1 for the next eight years. It will be completely legal for viewers to record nFL leagues on video recorders, and we can publicly promote this power to users through TV channels,” espn President Steve Bernstein in the conference room after introducing the results of the negotiations with the National Football League, and then looking at the People present. ≯Small ≥Say ＜＜﹤≤≦﹤≦≦≤≦≦≦≤≦＜

Although he has already received Eric's support, he must also persuade other shareholders of Firefly according to Eric's request.

With the absolute control in his hand, although Eric can make decisions alone, he does not want to have too many differences with other shareholders of the company on these matters, which is not conducive to the stable development of Firefly.

Tom Murphy, who had just stepped down as CEO of the TV department, had been lowering his head to read the document in his hand. After Steve Bernstein finished briefly, he raised his head and asked first: "Steve, espn already has a strong presence in the industry. It has an absolute leading market share and has become the TV station of choice for sports fans. So, do you think we still need to pay a 50% premium to sign an eight-year high-risk contract to win the exclusive broadcast rights of nFL games? "

Steve Bernstein replied: "Mr. Murphy, although espn's current market share is far ahead, it does not mean that we can rest easy. In recent years, competitors such as nBc, cBs and Fox have begun to increase Investment in sports channels, even if espn has an absolute advantage, if we let this continue, our market share will be gradually eroded by other networks and slowly lose this absolute advantage.”

Tom Murphy still shook his head slightly and said, "Steve, I haven't seen the relevant report, it sounds more like your personal speculation, and it's a little too alarmist, the industry dominance of a TV station is not that much. Easily broken."

Steve Bernstein defended: "Mr. Murphy, I'm not alarming. In recent years, there has been a very obvious example. We all know that since the birth of the net in the 1980s, the status of the news channel industry has been closely related to that of the news channel industry. The status of espn in sports channels is very similar. But in recent years, Fox News has come from behind. With the support of News Corp.'s strong world media network, this news channel has reached 50% of net market share. According to this growth rate, Fox News will be able to achieve its industry status with net before 2ooo years. In fact, it is easier to break the industry status. As long as other media groups have enough courage to continue to steal the broadcast rights of our events at high prices, then espn’s The decline is completely predictable. Therefore, buying out the eight-year exclusive broadcasting rights agreement at one time can cut off the possibility of other sports channels of the same type vying for broadcasting resources, which ensures that in the next eight years, we will no longer have to worry about it. Threatened by other competitors."

Warren Buffett also said at this time: "Steve,

Let’s talk about the expected revenue. You mentioned in the report that after winning the exclusive rights to broadcast the nFL games, the average annual subscription share of espn will increase by 20%. According to this growth rate, the average user of espn will be less than five years. The subscription price will be over $2, which is ten times the average subscription price of the average cable TV station. Do you think the audience will accept it? "

"Mr. Buffett, this price increase is a long-term process, and we are not directly targeting subscribers. We cooperate with cable operators. On the other hand, espn negotiates with operators on the basis of ratings. , if we have the exclusive rights to broadcast the event, then the audience will have no other choice but to watch nFL sports events on espn, then, with the increase of espn ratings, it is inevitable that the subscription share will rise, and the operator also has no other choose."

After hearing this, Buffett smiled and nodded. He glanced at another outside director of the Firefly system, David West, President of State Street Global Fund. David West smiled and shrugged, saying: "After listening to Steve I have found no reason to object to this agreement."

Eric finally looked at Tom Murphy, who also nodded slightly. He has always been a conservative operator, but this time, although he still felt that this plan was too risky, he also realized , the risk is well worth it compared to the possible gains.

"In this case, the plan is confirmed, and the company will inform you about the follow-up signing matters on time," Eric finished, and added: "Then, since everyone is here today, let's take this opportunity to discuss before Group financials in the third quarter, Caroline?"

Eric said, looking at Caroline Elliott, the chief financial officer of the group, Caroline Elliott nodded, and opened the document prepared in front of him.

At the end of the morning meeting, Eric and Katzenberg invited Buffett to lunch with a few people at the aBc headquarters restaurant. When they left, Buffett took Eric aside and said, "Eric, there is time next Thursday. ?"

Eric was a little puzzled and thought about it. Next Thursday is November 2, and his schedule has not yet been scheduled for that day, so he nodded and said, "Of course, Warren, I will probably stay in New York until November 1. Day, you know, after the Victoria's Secret show."

"It's like this, there will be a party at that time, some of my old friends, everyone wants to see you, I wonder if you are interested?"

The gathering of Buffett's old friends, Eric immediately remembered the gathering of the famous Graham disciples in the investment world. The famous economist Benjamin Graham was honored as the 'father of modern securities analysis', and his status was equivalent to the love of physics. Einstein, Buffett was once a student of his teaching at Columbia University, and then Buffett personally organized the famous Graham Disciple Party, which was attended by the top group of entrepreneurs, bankers and fund managers in the US investment industry. .

With the continuous expansion of the personal industry, Eric knew that it was inevitable for his companies to intersect with these capital industry giants. Buffett will not invite outsiders to participate in such internal gatherings at will. Since he has been invited, Eric will certainly not be stupid enough to refuse. Even if he will not cooperate in the future, it is definitely beneficial to get to know these people.

After thinking about it, Eric said again: "Warren, can I bring a companion?"

Buffett smiled and said, "Of course no problem, this is not a very formal party, everyone will bring a female companion."

Eric shook his head and said, "No, not a female companion, I mean, a good friend of mine, Chris Hansen, is now helping me run Firefly Investments."

This kind of gathering of investment tycoons will not directly help Eric too much, but it will definitely allow Chris to gain unexpected network resources, so Eric quickly thinks of him.

Buffett pondered for a while, nodded and said, "No problem, that's also a very good young man."

With that said, Buffett took out the memo and wrote down an address, handed it to Eric, and said, "Next Thursday, at seven o'clock in the evening."

Eric took it and put it away, nodded and said, "Of course, we will be there on time."

After sending Buffett and others into the car to leave, Eric returned with Katzenberg; he stayed in Manhattan for two more days, and on October 31, the day before Halloween, Eric returned to Hampton on time.

East Hampton is basically a resort town. After summer and autumn, most people return to Manhattan and other places to live. Women and children also moved to densely populated Southampton before Halloween, although the manor here is bigger than East Hampton. Much smaller, but with a lot of resident neighbors, it can be very lively during the festival.

The driver entered the manor, Eric got out of the car and walked into the villa. The twins, who were sitting on the living room sand watching TV, got up and greeted him. It seems that Drew has also come to New York. MGM's stock increase is scheduled for December 9th. Frank Macasso, the president of MGM, has basically stayed in New York for a while. The girl just came today. In addition to spending Halloween together, it should also have something to do with this.

Taking off the windbreaker with the help of the twins, Eric looked at the two women and asked, "Why is it so lonely, Drew, and others?"

"The boss and Ms. Pakula were out shopping, and Ms. Madsen was upstairs with the young lady and the young master."

"Oh, then keep watching TV," Eric said, changed his shoes again, and walked upstairs.

The door of a living room on the second floor Chaoyang was open. Eric walked in and saw Virginia sitting with her back to him, as if she was holding a book and reading something, surrounded by three little guys.

He walked over with a smile, hugged Virginia and kissed her in the woman's soft voice.

"Ah, you scared me to death," Virginia slapped Eric and said with a smile.

Eric lay on the sand armrest and looked at the book in Virginia's hand: "What are you reading?"

Virginia motioned to Eric the next cover, which was still an Encyclopedia Britannica.

Eric shook his head and looked at the three little guys. Hawaii was the closest to Virginia. His beautiful eyes were shining, and he seemed to be waiting for Virginia to continue reading. Appearance, Emma looked at Eric as if asking for help, her eyes were watery, as if she was about to cry at any time.

"Don't you want to hear it? Come on, Dad will take you to play," Eric stretched out his hand to the three little guys. There was no movement in Hawaii, but Emma and Kevin jumped up cheering.

Virginia was reluctant, and held Eric: "Hey, you take Emma to play, Kevin stays, I only read three pages."

Eric was helpless: "Do you think my son can understand?"

Virginia still didn't let go: "But Xia Xia will read by herself, and Kevin can't fall too far."

"Don't mess with your children. What can a two-year-old kid understand? You still expect Kevin to go to Harvard at the age of three."

"But Xia Xia will read it by herself," Virginia muttered again, with some grievances in her eyes, and looked at Eric hatefully: "You are biased, Xia Xia is so smart."

Eric is even more helpless: "It's too unreasonable, can I control the IQ of the little guy?"

"Anyway, you are biased!" Virginia's tone was even more aggrieved, she threw the "Encyclopedia Britannica" in her hand at Eric's feet, turned her back to Eric, and shrank on the sand. (To be continued.)