Chapter 72: Taking Down the Times
[Chapter 72: Taking Down the Times]
Taking down the Los Angeles Times?
Ian was momentarily stunned by Gaskill's suggestion.
He stared at the older man, saying, "What did you say?"
Gaskill smiled, "A featherweight stepping into the ring with a heavyweight is asking for a knockout. So you need a middleman. If you take over the Los Angeles Times, you'll have a larger footprint, more capital, and a solid foundation to negotiate with CBS."
CBS was a publicly traded company, but its stock featured a dual-class structure.
The circulating shares made up 60% of the total, but those shares had no voting rights. The real power lay with the board members who held the remaining 40%.
Ian knew he couldn't accept shares without voting rights, so he had to negotiate.
Additionally, publicly traded companies often didn't require a premium to purchase shares; a regular stock buy would suffice. However, to acquire enough equity, he would inevitably need to pay a premium unless the company's stock value plummeted, prompting them to seek help.
CBS hadn't hit that point; buying small amounts of stock would be welcomed, but gaining substantial equity, especially from board members, would not come easy.
Therefore, Ian had to first demonstrate sufficient strength.
CBS wouldn't sell to someone they viewed as a small player... unless his money was substantial enough to make them abandon their dignity.
Ian Carr couldn't do that, and even if he could, he wouldn't -- who in their right mind would pay a high price?
That's why Gaskill suggested he focus on building himself up instead of trying any miraculous maneuvers -- some things were conducive to miracles, and some were not!
Ian smirked, "The Los Angeles Times is the backbone of the Chandler family; they would never sell."
The Chandler family controlled the Los Angeles Times, but they owned more than that; they had a diverse portfolio of over a dozen publications, yet the Times was undeniably their most valuable asset, surpassing all others.
"It's not harder than controlling CBS," Gaskill replied, "Tell me, Ian, what's your greatest confidence?"
Ian pondered seriously, a smile creeping onto his face, "My reporting! Even though you oppose me controlling the Crips, do you know? The greatest advantage of controlling a gang isn't how much money you can extract, but how much information you can obtain. The bloodshed, the violence, the gunfights, the killings -- whatever illegal dealings they're involved in, I can catch it first-hand, or even... instigate it!"
Lena gasped, covering her mouth, "Oh my God!"
It was at that moment she finally understood where Ian's confidence stemmed from.
He could and would create news!
Gaskill had long suspected this, but hearing Ian admit it out loud was different.
He didn't think much of it; Businessmen delving into the underworld wasn't unheard of... but someone like Ian Carr was a rarity!
He asked seriously, "Are you confident in your skills?"
Ian replied, "If it's a war I start, then yes, I'm confident. But if someone snipes me from afar, I don't have any confidence."
Gaskill chuckled, "Then I feel much better. Don't worry, Ian; you're not at risk of being sniped yet."
"But that day will come," Ian chuckled lightly.
Not being targeted by a sniper isn't the mark of a big-time player!
---
The Crips' residence.
Ian sat in Crips office while he stood obediently.
Ian leisurely handed him a document, saying, "This is a newly established company called White Mountain. From now on, all financial transactions of the Crips will run through here. You and your crew own 70% of the shares and can distribute them as you wish; you're the chairman. The other 30% belongs to someone named Dan Carew."
Crips asked, "Who's Dan Carew?"
Ian smiled, "A person with a full set of background data, including tax forms, health insurance, driving records, even photos, citizenship, and prison records, but someone you would never find."
Crips understood, saying, "Shawshank Redemption?"
Ian laughed, "Exactly."
Dan Carew was Ian's alias; he could easily extract money from the Crips, putting it in Lino Bank where all the accounts were clear, but apart from Crips and Gaskill, no one knew Dan Carew was Ian Carr.
Ian used his business income to expand, while the shares from White Mountain were for living life to the fullest.
Ian continued, "On top of that, White Mountain must pay the Los Angeles Herald $500,000 monthly in advertising fees."
As a gang, they made considerable money but also had legitimate businesses... utilizing illegal means to run legitimate enterprises like nightclubs, bars, etc.
Receiving $500,000 in advertising income at the Herald's ads would be easy; besides, the Herald was wholly owned by Ian Carr.
This not only benefited the enterprise financially but also boosted its valuation, allowing them to secure more borrowing. With a board presence, Gaskill wouldn't just hand over money casually; he needed substantial financial statements to justify support.
All of this was taught to him by Gaskill.
The old man was indeed his mentor!
After explaining, Ian said, "Of course, this money isn't free; I can help you with many things. I know the Crips have some connections, but now, you have a much stronger backing. I can help you settle issues with the authorities, and that includes competitors... I like explosive news!"
As he said this, Ian chuckled.
It would genuinely be explosive news!
Crips thought, even if you didn't make promises, I wouldn't dare oppose you!
He smiled slyly, saying, "Alright, boss, from now on, you're officially my boss."
With that, he neatly took the agreement and signed his name.
After briefing the Crips, Ian headed out.
---
In the following days, Ian and Philip Leyso continued hitting the streets, on the lookout for all kinds of news.
In Los Angeles, sex and violence were eternal.
And with his insight, Ian could see through all the dirt and darkness.
Almost every day, the Los Angeles Herald had various explosive news stories.
These stories weren't as monumental as a few previous ones, but they were still rich in content and elements, continuously boosting the notoriety of the Los Angeles Herald along with Ian Carr and his rising star, Butterfly.
...
The rapid growth of the Los Angeles Herald was putting the most pressure on the Los Angeles Times.
This was one of the top three major newspapers in America, with daily sales exceeding 1.5 million copies and the most ad pages in the country -- buying their paper meant eight out of ten pages being ads.
Though they were beginning their slow decline, at that moment, they were still one of the most dominant news publications.
However, this major paper was now feeling the immense threat from the local upstart.
"Incompetents! Useless! You're all a bunch of losers!"
In the office of the Los Angeles Times editor, known as "The Tyrant," Ezriel yelled furiously.
If the Los Angeles Herald continued to gain attention, he might lose his own position as editor-in-chief.
Why?
Why did the Los Angeles Herald always manage to find the biggest news?
This had gone beyond Ian Carr's underhanded methods; he seemed to have the eyes of a god, always able to see straight to the core!
This realization drove Ezriel into despair.
Just then, his secretary entered the office, saying, "Mr. Ezriel, Ian Carr called and wants to talk to you."
"What did you say? Ian Carr?" Ezriel was taken aback.
*****
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