Chapter 909: The future of MGM is a media empire

Just as Xia Yu was getting a little annoyed, he saw a glimmer of hope when he realised that two of the elites on his list had not rejected the invitation from Kuanghui International.

The two were Barry Diller, the current vice president of Paramount Pictures, and Sherry Lansing, the current vice president of Columbia Pictures.

Barry Diller was definitely a genius in film and television media. He first dropped out of the University of Los Angeles, then joined the William Morris agency, and five years later, he joined ABC as assistant to the general manager, where he invented the two enduring broadcast formats of TV series and TV movies, which caused the number of ABC users to skyrocket.

Then at the age of 32, he joined Paramount Pictures, and at the age of 35, he became vice president. He was a true genius.

This work experience in these positions made Barry Diller a well-rounded expert in film and television entertainment.

Xia Yu also knows:

If Barry Diller had followed the original course of history, he would have been recruited by Rupert Murdoch to join 20th Century Fox four years later, where he would lead the company's rapid rise to prominence. Together with Rupert Murdoch, he would go on to found Fox Broadcasting Company, which would become the fourth largest television network in the United States within just a few years.

His abilities are clearly evident!

And Xia Yu has no intention of letting MGM Studios just stick to the movie industry.

Without cable channels, television networks or broadband pipes, and without the backing of a media group, MGM Pictures, even with Xia Yu's golden finger, cannot really exert a deterrent effect. Once Xia Yu stops paying attention and entrusts the company to the wrong people, and as long as the investment fails a few times, MGM Pictures may once again become the worst.

Therefore, MGM's future must definitely be built into an integrated film and television media and entertainment group, preferably benchmarking against the future 20th Century Fox, and creating a television network as soon as possible.

Moreover, the six major Hollywood giants in the future will each be comprehensive film and television media entertainment giants. It can be said that this is the only way forward.

As the saying goes, a step forward, every step forward!

Now that he knows this, Xia Yu will definitely make MGM take this path ahead of schedule.

If Barry Diller can be recruited to become the chairman of MGM, the future of MGM Pictures can be expected!

As for Sherry Lansing, although she is a woman, she should not be underestimated.

This powerful woman is one of the most successful women in Hollywood in the future. Although she is currently the vice president of Columbia Pictures Industries, according to historical trends, she will go to 20th Century Fox as the general manager and become the first woman in Hollywood history to lead the eight major film groups.

Later, the annual 'Hollywood Women's Rights List' specifically established the 'Shirley Lansing Leadership Award' in her name, which is sufficient proof of her leadership skills.

Now Shirley Lansing is still at Columbia Pictures Industries, but she should be leaving soon. Since she has accepted the offer from Headhunters, the probability of Xia Yu taking her down is still very high.

The same goes for Barry Diller. As long as Xia Yu is good at bluffing, there is a good chance of taking him down.

In Xia Yu's plan, which was made in a short period of time, Barry Diller will become the chairman of MGM Pictures and take the helm of MGM, turning it into a media empire.

Shirley Lansing will become the CEO and be responsible for implementing Barry Diller's plan.

After making the decision, Xia Yu immediately asked Korn Ferry to notify the two.

Xia Yu first met Barry Diller in the reception room of Polaris Capital.

Barry Diller, aged 38, was also wearing a sharp suit in the middle of winter, with a neatly combed pompadour. He looked energetic and exuded a mature and stable aura from the inside out. At first glance, his sharp gaze revealed his vigorous and ready spirit.

Mature and stable, shrewd and capable, yet not lacking in the boldness to fight and compete, he looked at first glance like a capable person who could achieve great things.

'Mr. Diller, it's a pleasure to meet you. I'm Xia Yu, Chairman of Polaris Capital!'

Xia Yu smiled and extended his hand, introducing himself first.

Barry Diller had read some information about Polaris Capital and knew a little about Xia Yu, but when he suddenly saw Xia Yu's young face, he was still shocked.

But fortunately, he is also a person who has seen the big world, and his heart is strong enough. He shook hands with Xia Yu with a calm and composed expression, and said calmly, 'Mr. Xia, it is my honour to meet you. The operation of Polaris Capital has shocked the whole of Hollywood!'

'It's nothing, just a small move!'

Xia Yu smiled and made a gesture of invitation, 'Mr. Diller, let's sit down and talk.'

'What would you like?'

'Just a cup of black coffee!'

...

A few brief pleasantries were exchanged, and the atmosphere gradually became more relaxed.

After the staff had brought the brewed coffee, Xia Yu was ready to get down to business.

Without beating about the bush, he got straight to the point: 'Mr. Diller, I have read your CV. Although you have not fully run a company before, your abilities are beyond doubt. I believe you have the ability to bring MGM back to the top and create new history.

'I hope you can become the chairman of MGM!'

'I wonder if you would like to become the king of lions?'

Is it the chairman of the board instead of the CEO?

Even though Barry Diller had prepared himself before coming, Xia Yu's offer completely took him by surprise.

He had originally planned to apply for the CEO position. Becoming the vice president of Paramount Pictures and then the CEO of one of the eight, no, seven major Hollywood studios would definitely be a key promotion that would completely open the ceiling of his career plan.

However, he did not expect Xia Yu to think so highly of him, which surprised him somewhat.

The chairman of a company is the person with the most power, and the second most powerful person is the CEO. Generally, the chairman of the board is the owner or the largest shareholder of the company, and is in charge of the company's development direction.

The CEO mainly makes suggestions to the chairman, which are then discussed and approved by the board of directors, and then implemented by the CEO.

Of course, there are also some companies where the chairman of the board also serves as the CEO.

Who would want to be the second-in-command executive president, subject to constraints, when they could be the most powerful chairman?

Although Barry Diller was tempted, he was not an impulsive person, and instead cautiously asked, 'Mr. Xia, can I know why you chose me to be the chairman?'

Xia Yu smiled and didn't answer his question, but instead spoke to himself: 'Mr. Diller, I know that you didn't have a good time at Paramount Pictures. Martin Davis's focus was on the oil sector. He acquired Paramount Pictures but was unable to fully tap its value. He was unwilling to make more attempts and rejected your suggestion of hoping Paramount Pictures to build a television network, believing that the risk was too high.'

'It's obvious that he doesn't believe in your abilities.'

'But in my opinion, the future development space of a pure film production company is too small, and its risk resistance is also poor. Often, the failure of several consecutive medium-budget films or one large-budget film will deal a heavy blow to the film company, and even lead to bankruptcy.'

'This is also why the rankings of the eight major Hollywood giants are so unstable.'

'But Warner Bros. Communications has already embarked on this path of diversification, not just relying on media companies, but getting involved themselves.'

'Perhaps because Warner Bros. has just implemented this plan, the results are not yet obvious, but I think this is the best path for the future.'

Having said this, Xia Yu paused to drink some coffee to soothe his throat, and noticed that Barry Diller was listening intently, his flashing eyes showing his inner unease.

Xia Yu gave a slight smile and said again:

"In my plan, MGM must build its own television network in the future and become a comprehensive film and television media entertainment group.'

'You have worked at ABC and even made huge innovations that have changed the development of the television industry. You are a genius in this field.'

'In addition, you have experience in film production and distribution, and have achieved very good results.'

'I think you have the potential in this area. All you lack is a big enough platform to display your talents!'

Xia Yu's words completely spoke to Barry Diller's heart, and coincided with his vision for the future of the Hollywood giant.

He had made many suggestions to Martin Davis, the owner of Gulf Western Industries, the parent company of Paramount Pictures, but they had all been rejected, which had made him feel disheartened for a while.

That was why a few years later he would be easily poached by Rupert Murdoch, who had just been poached and set to work building the Fox television network.

Although his current frustration had not yet reached its peak, it was not non-existent.

His one-time boss Xia Yu had such high hopes for him.

The contrast between the two is clear.

Furthermore, although Polaris Capital is very young, the information it has collected from the surface is enough to show that it is a powerful financial giant.

With the support of such a wealthy financial giant behind him, the conditions for MGM Studios to grow into a media empire are already in place.

Moreover, the boss and his views are completely aligned, so he doesn't have to worry about focusing his energy on arguing with the boss and can devote himself fully to realising his vision.

In that case, he has nothing to hesitate about.

Looking at Xia Yu, who was beaming with a smile, he directly changed his words and said, 'Boss, thank you for your recognition, I am willing to accept your invitation!'

Xia Yu revealed a satisfied smile and said in a flattering manner, 'Barry, aren't you afraid that I won't treat you well?'

Barry Diller smiled wisely and asked in return, 'Then boss, would you treat me badly?'

Xia Yu laughed heartily and without beating around the bush, he said directly, 'Of course not, your salary is 20% higher than that of Paramount's president Mike Eisner!'

His salary at Paramount Pictures was about eight times that of president Mike Eisner, and now according to what boss Xia Yu said, then his salary would increase by 50%.

The position of chairman is even higher than that of CEO, and this salary is completely in line with the company's compensation system.

He had nothing more to say other than gratitude, as to mention it again would be ungrateful.

Therefore, Barry Diller thanked him with a slight bow and said, 'Thank you, boss!'