Chapter 460: Barry Diller

On New Year's Eve, in the high-rise banquet hall of the MGM Grand Hotel in Las Vegas, Charles and Anne Hathaway were laughing and chatting.

Anne Hathaway originally planned to go back to New York to watch the New Year's Eve show in Times Square, but Charles persuaded her to come to Las Vegas instead.

"Charles, why did you suddenly want to come to Las Vegas?" Anne Hathaway found it odd. According to past habits, Charles would spend Christmas and New Year holidays abroad.

"To meet someone," Charles smiled, then leaned close to her ear, "I have to leave for a bit!"

Charles' reason for coming to Las Vegas wasn't for the New Year's Eve fireworks but to meet the veteran Hollywood mogul Barry Diller.

In a corner of the banquet hall, the large floor-to-ceiling windows overlooked the long street below that had been closed to traffic. At that moment, Las Vegas Boulevard was brightly lit and teeming with people, resembling a massive outdoor party.

"Charles, you're here! I was planning to invite you to New York so we could watch the Times Square New Year's Eve show together," Barry Diller chuckled.

"But the annual International Consumer Electronics Show (CES) in Las Vegas is about to start!"

Charles nodded. Barry Diller, born in 1942, was already 66 years old at the time. With his bald head and somewhat kind face, he appeared very ordinary.

Barry Diller had started in the mailroom and later joined ABC Television in the mid-1960s.

Making a name for himself, he was invited to take the helm at Paramount after it was acquired by Gulf+Western in the mid-1970s, leading its revival.

In the mid-1980s, when Rupert Murdoch's News Corporation acquired 20th Century Fox and intended to establish a television network, Barry Diller joined to help form the fourth largest broadcast network, Fox Broadcasting Company.

In the 1990s, with Gulf+Western needing to sell Paramount due to losses, the ambitious Barry Diller used the severance pay from Rupert Murdoch to convince Wall Street investors to support his bid for Paramount.

Unfortunately, up against Sumner Redstone's Viacom and Jewish capital, Barry Diller had to admit defeat and left Hollywood to run the internet marketing company IAC.

"Today's economic downturn has many Americans scrambling to pay their bills, find jobs, or avoid foreclosure. Spending hundreds of dollars on a laptop or digital camera feels like a luxury to them," Charles remarked, noting that IAC's main business was in consumer electronics, so their interest in CES was understandable.

Barry Diller nodded, "That's right. To combat the economic downturn, tech companies will put double the effort into improving their products to attract customers."

"That makes sense," Charles mused, looking at the bustling street outside, "Las Vegas' New Year's Eve fireworks show attracts more than 300,000 people every year. Though it doesn't match the million-strong crowd in Times Square, it's still impressive."

Every New Year's Eve, Times Square is one of the world's top attractions, drawing tourists from all over the globe.

Charles met Barry Diller not just to discuss CES or the New Year's Eve show; he had hired Diller as his consultant and wanted to hear his advice.

Barry Diller had lost to Sumner Redstone primarily because his resources were insufficient; they weren't even on the same level as competitors.

As capable as he was, Barry Diller was merely a high-level manager, even Rupert Murdoch utilized him in such a capacity.

"Paramount is already past its prime. Your Capet Pictures is like the rising sun," Barry Diller admitted he couldn't compare himself to the younger Charles Capet.

Charles chuckled, "This year, Capet's plan to join MPAA fell through. Sumner Redstone will definitely create obstacles in my acquisition of NBC Universal."

"Hollywood's media groups are interconnected with shares and personnel, Mr. Diller. You must be aware of this," Charles continued.

For example, Liberty Media Group is the second-largest shareholder of News Corporation but also the largest shareholder of Time Warner.

Both Time Warner and News Corporation have stakes in Liberty Media, and Disney, Viacom, as well as News Corporation and Time Warner, are entangled in a complex web of cross-shareholdings.

Wall Street investment funds act as intermediaries, making the acquisition of NBC Universal no easy task.

Barry Diller patted Charles on the shoulder, "I know a few people. My past connections might come in handy. Since you've hired me as a consultant, I'll do my utmost to help. Jack Welch, the former chairman of GE, is an old acquaintance and could be an asset."

"The issue with Vivendi isn't major either. Their 20% stake in NBC Universal has BNP Paribas backing me," Charles said, frowning slightly, "I'm not too worried about funds; it's mainly the internal resistance in Hollywood. Hollywood is a fixed size. If Capet takes a bigger slice, others will have to take less," Charles' statement made Barry Diller immediately understand his point - Jewish capital.

The major Hollywood studios, including the foreign-owned Sony Entertainment, have intricate ties to Jewish capital, either through influential Jewish shareholders or Jewish management.

"Charles, you underestimate yourself," Barry Diller said, looking at him, "Capet's return rate is mind-blowing. Don't underestimate the capitalists' pursuit of profit, especially the inherent ambition for capital among Jews."

Barry Diller then made a sign of the cross on his chest meaningfully, "Profit drives everything. As long as Capet keeps its momentum, they'll all follow you!"

Charles smiled. Indeed, how could he judge Jews by his own standards?

He then raised his glass and clinked it with Barry Diller's.

Barry Diller also smiled, "They've ruled Hollywood for too long. Change is needed."

"Charles, enjoy the party," Barry Diller said.

Charles nodded and bid goodbye to Barry Diller, heading off to find Anne Hathaway.

*****

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