Chapter 39. Securing the Rights to "Transformers"

The new week began early in the morning. Lincoln was headed to Los Angeles International Airport. Four people were in the car: Charlie Cooper, Eric Cooper, Chen Xin, and the driver.

Their destination was New York, where negotiations with Hasbro had concluded, and it was time to sign the contract. After the signing, a press conference would immediately follow. If you're going to start, start big, and create a buzz ahead of time! So even Eric's father, Charlie, decided to attend. This was the first major decision of the new MGM.

Flipping through the newspaper, Eric didn't find anything particularly important, but one piece of news caught his attention – the final hearing in Winona Ryder's shoplifting case.

Yes, it was the same Winona Ryder who starred in classics like "Edward Scissorhands" and "Little Women," and was an Oscar nominee, a darling of many.

In December 2001, she was caught shoplifting clothes and jewelry worth $4,760 in a Beverly Hills department store. It was all recorded on surveillance cameras.

Such behavior is not only immoral but also illegal, especially for a public figure. At that time, the US was still reeling from the events of 9/11, and the nation was in a state of sorrow and anger. And here came such a blow from a beloved actress – Winona instantly became public enemy number one.

In no time, her contracts were canceled, she lost her job, and became the subject of intense media scrutiny. Reporters hounded her, capturing her every move.

Now, nearly a year later, this Monday, the final court hearing began. The old story resurfaced, and Eric was sure that the next day's papers would be full of pictures of Winona entering and exiting the courtroom.

Eric shook his head: "I don't understand. She was one of the most sought-after actresses, a favorite of directors. Why would she steal? Maybe it's some sort of compulsion? She could have taken something from the set like everyone does!"

Charlie Cooper also sighed in regret: "Nobody knows what was going on in her mind. When this news broke, all of Hollywood was shocked. Though many actresses were probably happy."

"Maybe it's due to stress. Every Hollywood star has their worries: will I get this role? Will my movie succeed? Will young talent surpass me? Hollywood is a place where fame and money rule. Even an Oscar doesn't guarantee anything. And Winona, despite her popularity, never starred in a true blockbuster."

"In recent years, many new faces have emerged – Gwyneth Paltrow, Angelina Jolie. Perhaps she felt the pressure, which caused a nervous breakdown leading to this foolish act."

Eric recalled that due to this incident, Winona was in the shadows for a long time. Over time, she returned to acting but never landed any significant roles again. One wrong move and life crumbles.

"Chen Xin, how are the box office numbers for 'Red Dragon'?" Eric distracted himself from his thoughts and returned to business.

Chen Xin promptly replied: "In North America, earnings dropped by 52%, amounting to $14.9 million. In Europe, the second week grossed $29.5 million. We also have weekend figures from other countries: Japan – $10.65 million, South Korea – $5.8 million, Australia – $6 million. New Zealand, India, Hong Kong, and other regions added another $22.2 million. Thus, the worldwide gross for 'Red Dragon' is $230 million."

"$230 million – not a bad result. Looks like analysts were right. The final gross might be around $300 million," Eric noted, pleased with the results.

Charlie Cooper nostalgically added: "The plot isn't strong enough. Remember, 'The Silence of the Lambs' grossed $270 million on a budget of just $19 million back in 1991, eleven years ago."

"Times change, Dad. When we get the rights to 'Transformers,' MGM will soar. $270 million will seem like peanuts!" Eric responded confidently.

"Eric, you're always so sure of yourself!" Charlie smiled.

"Because confidence is worth more than gold!"

...

Hasbro Headquarters, Rhode Island. Representatives from both sides sat opposite each other in the conference room.

Filming a movie based on "Transformers" was a big deal for Hasbro, and since Charlie Cooper personally attended, Hasbro's CEO Alan Hassenfeld decided to come as well.

After three rounds of negotiations, all details were agreed upon, and now it was just a matter of signing the contract.

Ultimately, Hasbro couldn't resist the offer and agreed to a conditional agreement, though they made some changes. The proportions of all terms were revised. For example, if toy sales increased by more than 200% within a year, Hasbro would only share 5% of the net profit with MGM.

Eric's most important condition – increasing toy sales by three times – was raised to four times. If this goal was achieved, Hasbro would either transfer 4% of its shares to MGM or pay 55% of the net profit from toy sales.

The attendees discussed the details and exchanged a few pleasantries. Then Charlie Cooper and Alan Hassenfeld signed the contract. At the moment when the pens touched the paper, the rights to "Transformers" transferred to MGM, and the conditional agreement came into effect.

After the signing, everyone lined up for a group photo, and then a graceful young woman led them to the press conference hall.

Many representatives from various entertainment and mainstream media had already gathered in the hall. Cameras were set up and aimed at the front row, where the participants of the meeting would sit.

Hasbro – the largest toy manufacturer in the US, and MGM – one of the seven major film studios, though its influence had waned in recent years. Nevertheless, its historical significance remained substantial.

When the representatives of both companies entered the hall, camera flashes shone brightly.

After a few introductory words, Alan Hassenfeld announced in a low, confident voice: "As you can see, Hasbro and MGM have reached an agreement. We are transferring the film rights for 'Transformers' to MGM, and together, we will create a Transformers movie!"

The hall erupted in surprise and excitement. Although the media representatives had suspicions, hearing it officially was a different experience.

After all, it was "Transformers"! Almost all the men present had watched the cartoons and played with these toys as children. Even those who weren't fans had heard of them.

These heroes had held their place in the world of animation and toys for decades, and now, unexpectedly, a film adaptation was planned.

When Alan Hassenfeld finished speaking, the host announced the start of the Q&A session. Immediately, many hands shot up in the air.

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