Chapter 204: New York Observer

"Good evening, Charles and Scarlett!"

"Good evening, Arthur!"

Charles and his companion, Scarlett Johansson, had a drink with the current owner of the New York Observer, Arthur Carter.

"Scarlett, you look stunning tonight," Arthur remarked, though he was about to officially sell the New York Observer, it was still his for the time being.

"Thank you! Excuse me, I need to use the restroom," Scarlett Johansson said smartly, sensing the men had something to discuss, and decided to step away for a bit.

"Darling, I'll find you later!" Scarlett kissed Charles and then left.

Charles nodded and looked at Arthur Carter with a smile, "Is it because of Arianna Huffington that you're selling the New York Observer to me?"

Arthur Carter smiled helplessly, "Robert De Niro never had the interest or capability; as for Jared Kushner, he just wants to use owning the New York Observer as a ticket into New York's high society. He neither understands media nor is willing to focus on it. You know well the kind of reputation and readership the New York Observer has. The Kushner family is just looking for a voice to advocate for Charles Kushner, who's in prison, and to build momentum for entering the New York real estate market."

Charles nodded. The Kushner family's real estate business on the East Coast was decent, and entering New York from New Jersey was their main goal.

However, Charles also believed their offer wasn't as appealing as his.

"The New York Observer is a high-class weekly in Manhattan. I'll keep it going, but the decline of print media is inevitable," Charles said.

Arthur Carter agreed with this view. The New York Observer had suffered losses due to the impact of the internet.

"Peter Kaplan is quite capable. If you can make good use of him, the New York Observer's performance will improve quickly," Arthur Carter said. Having founded the weekly over 20 years ago, he had a soft spot for it and hoped it wouldn't end in closure.

"Rest assured, in the first year of acquisition, I won't fire the chief editor and throw the New York Observer into chaos. However, other editorial staff will certainly need to be reduced. The New York Observer needs to increase its circulation to attract clients. Online news editors and social news editors are the most needed employees," Charles said.

There was no way he would let the New York Observer continue losing money after the acquisition - it needed reforms.

Just as Arthur Carter was about to say something, he noticed Jared Kushner approaching.

"Charles, let me introduce an outstanding young man, Jared Kushner. He's just a year older than you!"

Charles turned around and Jared Kushner arrived right in front of him after being introduced by Arthur Carter.

"Good evening, Jared," Charles said, eyeing the future first son-in-law, noting how tall he was. No wonder he could win over Ivanka. He wondered if they had started dating yet.

Charles felt satisfied with his own height as well.

"Charles, good evening. Nice to meet you!" Jared Kushner politely greeted Charles.

"Arthur mentioned that you're also interested in acquiring the New York Observer?" Charles asked with a smile.

Jared Kushner nodded and responded, "Charles, I do have that thought! Unfortunately, Arthur thinks I lack the experience and background. But I believe I can manage this paper well."

Charles chuckled and suggested, "Hearst Media Corporation is considering selling the San Francisco Chronicle and the Seattle Post-Intelligencer. These are traditional dailies with circulations of 400,000 and 300,000 respectively.

And, I've heard that the Philadelphia Inquirer is also seeking a buyer due to losses. Jared, those could be your stepping stones into the media industry!"

Jared Kushner felt frustrated inside. Comparing those major metropolitan dailies with the small weekly New York Observer was absurd.

Moreover, didn't Charles Capet understand why the Kushner family wanted the New York Observer?

New York's local newspapers were plenty, and there were even some national papers. Could the Kushner family handle those? The New York Observer, being small, suited the Kushner family's development needs perfectly.

"Charles, the Kushner family is now rooted in New York and interested in local media channels!"

"I see," Charles feigned surprise. "Of course, the San Francisco Chronicle and the Seattle Post-Intelligencer are West Coast papers. But the Philadelphia Inquirer could cover New Jersey as well. The Kushner family has a lot of real estate business in New Jersey, right?"

Jared Kushner smiled politely and excused himself, as the Kushner family had no experience in the media industry. Why would they venture into the newspaper business?

The small-scale New York Observer just offered the status of being a newspaper owner!

Arthur Carter sighed, "Charles, you were a bit harsh. Jared is still a student at NYU! He doesn't have your rich experience."

Charles smiled and waved it off, "I'm teaching him life lessons. Life is full of twists and turns. Better he learns now than be fragile later on."

Arthur Carter chuckled. The Kushner family indeed relied heavily on Jared's father, Charles, a notorious figure. If Jared was to inherit the family business, he needed a lot of training.

"Charles, you're a genius. You can't be compared to ordinary people," Arthur Carter remarked in awe of Charles's abilities.

"A genius, huh," Charles chuckled. "New York is the heart of America. Seems like I need to expedite my business plans for the East Coast."

After parting from Arthur Carter, Charles barely remembered Jared Kushner. After all, apart from being a future first son-in-law, he had no remarkable achievements.

The Kushner family's size didn't impress Charles. Even the Trump Organization was larger than the Kushner family.

As for why Capet Pictures didn't acquire Hearst's West Coast papers like the San Francisco Chronicle or the Seattle Post-Intelligencer?

Because Hearst's asking price was high, and the cost wasn't justifiable. If Charles's base was in San Francisco, he'd definitely secure the San Francisco Chronicle for its media platform and political connections.

The decline of print media was also a significant reason Charles wouldn't spend heavily on it.

*****

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