Chapter 174: Warner or Disney

After Gilbert attended the Washington banquet, his primary collaborators, Disney and Warner, also kept busy.

Although Gilbert's projects have consistently been major summer box office earners for both companies, it doesn't mean they neglect other film ventures.

For instance, Warner and Universal's co-invested disaster film Twister continues to perform strongly, with its North American box office potentially surpassing Saving Private Ryan.

This isn't surprising. The difference in film ratings largely bridges the quality gap between the two films. Moreover, Twister stands out as a relatively well-made summer blockbuster.

Apart from Twister, Warner also has A Time to Kill, Eraser, and Space Jam in its lineup.

Meanwhile, Disney, primarily through its Buena Vista Pictures division, released several films this year, including Ransom, 101 Dalmatians, and Phenomenon, among others—aiming for quantity and variety.

This doesn't even account for Touchstone Pictures' release of Saving Private Ryan and Miramax's slate of films.

While not every film turns a profit at the box office, some manage to generate revenue through subsequent licensing and merchandise sales. Even if a few films incur losses, Disney's volume strategy ensures at least one hit that covers all the bases.

If they strike gold with a film like Saving Private Ryan, the profits are astronomical.

However, just as Warner can't shake off Disney, Disney also can't overlook Warner. Gilbert, aware of his value, seemed to be biding his time, waiting for the best offer.

After six consecutive years of blockbuster hits, Warner finally lost its patience.

When Gilbert returned to Los Angeles from Washington, Warner Bros. CEO Jeff Robinov paid a personal visit to Melon Estate to meet him.

"Gilbert, have you ever considered integrating Melon Studios into Warner Bros.?" Jeff Robinov asked, skipping pleasantries and getting straight to the point.

Gilbert glanced at him and asked, "Jeff, is this your idea or the Warner Bros. board's?"

"It's not just my idea," Jeff clarified. "The Warner Bros. board, and indeed all of Time Warner, would be thrilled to have you join us."

If Warner wanted to acquire Melon Studios, they'd need to offer significant terms.

Cash alone wouldn't cut it because, while Melon Studios holds partial copyrights from previous investments, its most valuable asset is undoubtedly Gilbert himself.

Acquiring the studio without securing Gilbert's long-term involvement would be meaningless.

Thus, Warner proposed a stock exchange deal, aiming to make Gilbert a member of Warner's board. As a board member, Gilbert would be tied to Warner Bros. for the long haul.

This wasn't a decision to be made lightly.

"Jeff, I'll need time to think it over. This isn't something I can decide on a whim," Gilbert responded.

Jeff Robinov pressed further: "Gilbert, haven't we had a great partnership? I doubt any company can offer better terms than Warner Bros."

He all but said: "Gilbert, don't hesitate—just agree."

However, Gilbert insisted he needed time, as Warner Bros.' acquisition would significantly impact his future plans.

After Jeff Robinov left, Gilbert called his agent, Sheena Boone. "Sheena, leak the news to Disney that Warner Bros. is planning to acquire Melon Studios. Let's see how they react."

On the other end of the line, Sheena Boone was surprised. "Warner Bros. is finally making a move?"

"Yes," Gilbert said thoughtfully. "This is an opportunity to negotiate for maximum benefit."

"I understand," Sheena replied and got to work.

In truth, Sheena didn't even need to tip off Disney—news of Warner Bros.' acquisition plans quickly spread throughout Hollywood.

The announcement didn't exactly shock the industry, but it certainly got the major players moving.

At Disney, an emergency high-level meeting was convened.

"I believe we need to join this acquisition battle immediately. We can't let Warner Bros. succeed. Gilbert belongs to Disney, and he must not leave," Michael Ovitz passionately argued during the meeting.

Despite his shaky position at Disney, Ovitz's statement garnered unanimous agreement.

Ovitz had overseen the highly successful Saving Private Ryan this year. Logically, this should have solidified his standing.

However, reality was the opposite. The issue stemmed from Disney Paris.

Disney's core business isn't just movies, particularly live-action films, which, apart from Gilbert's projects, have been mediocre in recent years.

The true backbone of Disney's empire lies in its copyright-driven ecosystem—classic animated characters, merchandise, and its theme parks.

Ovitz, dissatisfied with merely managing the film division, had attempted to extend his influence into these core areas, notably Disney Paris.

But he underestimated Michael Eisner and overestimated his abilities. His involvement in Disney Paris had been a disaster, with park revenues down 11% year-on-year—a significant decline.

Eisner laid the blame squarely on Ovitz, whose position at Disney was now precarious.

Even Ovitz's prior supporters among Disney's shareholders had begun to distance themselves from him.

In this context, Ovitz was desperate to keep Gilbert under Disney's banner, as his future depended on it.

Meanwhile, Warner's rumored terms for Gilbert included exclusivity, barring him from collaborating with other studios independently.

Should such a clause materialize, Disney's live-action film division would suffer greatly.

Both professionally and personally, Ovitz needed Gilbert to stay at Disney—even more urgently than Eisner did.

The executives debated heatedly, and Eisner ultimately decided: "We can't let Gilbert go. Disney must enter the acquisition battle for Melon Studios."

Ovitz volunteered to negotiate with Gilbert. "I'll handle it and gauge his thoughts."

"No," Eisner countered, turning to Bob Iger. "Bob, you're on better terms with Gilbert. You should talk to him."

Eisner's pointed look at Ovitz seemed almost deliberate, emphasizing his diminishing influence.

Bob Iger readily agreed, while Ovitz's face darkened. His tenure at Disney seemed to be nearing its end.

The following day, Iger visited Melon Estate to speak with Gilbert.

"Gilbert, have you decided on your next project?" Iger asked.

"Yes," Gilbert replied as he fished by the estate's beach. He was considering building a dock and getting a small yacht for fishing trips with friends like Leonardo DiCaprio.

Casting his line, Gilbert continued, "It's an original script—leaning toward suspense and thriller."

"Is it a horror film?" Iger inquired.

"Not exactly, though it will have some horror elements. I'll submit the script once I'm back from my break," Gilbert said.

Relieved, Iger noted it wasn't a pure horror film.

Although Gilbert had risen to fame with Final Destination, an innovative horror series, the genre often carried a reputation for being lowbrow.

Iger didn't want Gilbert's image, an asset to Disney, tarnished by association with lowbrow horror films.

Shifting the topic, Iger asked, "I heard Warner Bros. plans to acquire Melon Studios?"

"Yes," Gilbert admitted. "Jeff was very enthusiastic, suggesting Melon Studios and Warner Bros. could collaborate long-term."

Iger probed further: "If Disney were to make a similar offer, would you oppose it?"

Gilbert raised an eyebrow and said, "Why would I oppose it? It all depends on who offers the better terms. Bob, personal relationships are one thing, but this is business.

However..."

"However what?"

Gilbert patted Bob Iger on the shoulder and said, "If you can become Disney's CEO, I'd be more inclined to continue working with Disney."

Bob Iger's heart skipped a beat. That was the position of Disney's CEO—how could he not be tempted?

Perhaps he could leverage this situation to get closer to securing the CEO role.

Bob Iger thought about the ongoing power struggle between the chairman and the president, which had significantly weakened Disney. It made him feel that the chairman was indeed getting old, and perhaps it was time for Disney to have a new leader.

After Bob Iger left, Sheena Boone also came to the Melon Estate to discuss the initial results of the negotiations with Warner Bros.

At this point, Warner Bros. had essentially agreed to the stock exchange proposal. The main issue now was just the percentage of shares.

"There's no rush, Sheena. The longer we wait, the more valuable the studio becomes," Gilbert said as he reeled in his fishing line, ending yet another day with no catch.

But it didn't bother Gilbert—he was still willing to keep fishing. It was all about seeing which fish would take the bait.

.....

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