Chapter 126: Negotiating with CBS

[Chapter 126: Negotiating with CBS]

On July 28, in New York City, at the CBS headquarters.

A grand banquet was held in the lavish ballroom atop the building, with Ian Carr being the undeniable center of attention.

Surrounded by the soft glow of lights and the soothing strains of music, Ian circulated through the crowd of wealthy moguls, holding a glass of red wine and exchanging pleasantries.

"Mr. Hadfield, it's a pleasure to meet you; it's truly an honor to get acquainted with you."

"Mr. Innes, delighted to meet you as well."

"Mr. Gammon, I've heard you have investments in Hollywood... Ah, I recently purchased a film company, but it's just a small operation. Those guys are quite arrogant; I haven't managed to break into their circle yet."

"Media is the core of the world; they should revolve around us."

In the luxurious and spacious ballroom, Ian, dressed in formal attire, exchanged courteous remarks with a humble demeanor, experiencing success at a young age yet remaining unpretentious.

Next to Ian was Gaskill, who had just been released from the hospital but was accompanied by a nurse for assistance. There was also a slender middle-aged man with a small mustache.

James Perry, the chairman of CBS, owned 5.3% of internal shares and 7.1% of market shares, with a net worth of around two billion dollars. He was Jewish.

Thus, CBS leaned towards supporting Jewish interests, which posed a significant conflict for Ian regarding his acquisition of CBS and his own values.

But he had no choice.

At this point, CBS was the only major media outlet not acquired.

Fortunately, rumors of Ian's "hostility towards Jews" were suppressed and had not leaked out, and many Jews were ultimately driven by interests.

James Perry may not have known about Ian's views on Jews, or if he did, he might not have cared.

In business, commercial attributes often overshadow ethnic considerations.

...

"A young man who has developed to this extent in less than a year is just astounding. We ought to say it's a privilege to meet you; you will be a star of the future," a plump man said, giving Ian a warm hug before turning to leave.

James Perry introduced, "The Ichabod family has considerable clout in California; if you're looking to enter the business world, it might be good to befriend him."

Ian nodded, "Thank you for the suggestion, Mr. Perry."

...

Just then, another young man approached.

He stood beside Ian and said, "Ian Carr? Hello, I'm Clemens."

Ian raised an eyebrow, "Ivor Clemens? The Pulitzer Prize winner of '91. Your reporting is incredible!"

Clemens smiled, "But not as good as yours; your reporting of the Palos Bank robbery was outstanding. The Pulitzer will surely be yours next year."

Ian shook his head, "No, they won't give me that award. Those insiders are just like the Academy Award old-timers; they prefer news with depth. Covering starving children in Africa, watching vultures wait for carrion, or singing praises of some saint is surely easier than my news to win awards. My news is like a flashy blockbuster that can bring in box office dollars but isn't worthy of awards."

The Academy Award refers to the Oscars, where a group of old men typically seeks depth, thus looking down on commercial blockbusters.

Only a few films achieved massive success both commercially and artistically, such as The Godfather, Forrest Gump, Schindler's List, and The Lord of the Rings: The Return of the King.

The Pulitzer Prize follows a similar line of thinking; there's always a need for substance.

Did the Palos Bank robbery have substance?

It stood only as a spectacle with chaotic interviews that lacked depth.

At Ian's remark, Clemens smiled slightly, "Just wait; opportunities will come."

After exchanging pleasantries, Clemens departed.

...

Watching him leave, Ian remarked, "He doesn't like me."

James Perry looked surprised, "He didn't seem rude at all?"

Ian shrugged, "A good journalist should be able to sense the hidden emotions of others. Just recently, I leveraged that skill to complete a pretty good deal."

James Perry chuckled, "Ivor is CBS's star reporter; maybe your emergence makes him feel threatened. After all, you're not just a star reporter; you're the owner of a media group. I hope you don't mind."

"Of course," Ian replied, "An excellent business person has to learn to read others' minds but should never let others' thoughts dictate their own. Good judgments come from the heart, while bad judgments focus on appearances. As long as he doesn't provoke me, I don't care how much he despises me."

At that moment, they shared a knowing glance, and the three, including Gaskill, moved to a smaller lounge.

...

When the crowd was large, significant matters couldn't be discussed; real discussions were reserved for quieter settings.

Seated in the small lounge, the environment was serene, with a roaring fire in the fireplace.

Each took a seat on the sofa, served by a lovely waitress in a revealing outfit pouring their drinks.

James Perry noticed Ian's gaze lingering on the waitress and chuckled, "You can take any woman here home with you, if you like."

He smiled slightly, "No, thank you."

Lena was still around... she kept a watchful eye on Ian like a wife.

James Perry had shifted topics, "I can accept your conditions. WND will become CBS's news site; you'll receive two percentage points of CBS shares and a seat on the board. Additionally, all your significant news with Butterfly must go to CBS first."

Currently, WND was valued at $120 million, while CBS reached a staggering $11.2 billion, making the two points a generous offer primarily aimed at tying Ian and Butterfly closer to CBS.

Ian gently shook his head, "I'm not here to work for you, much less to seize power, Mr. Perry. I can agree to jointly publish all significant news with CBS, but I want 14% of the internal shares and a board seat -- at face value."

Acquiring companies, especially the internal shares, usually required a premium; for Ian to request face value was practically impossible.

This required support from other resources, typically stemming from Ian's sensational stories.

Moreover, since CBS had different voting rights, based on Ian's requests, those 14% of internal shares would correspond to 35% voting power, crossing the one-third threshold.

For a company as large as CBS, having such significant voting power amounted to a considerable degree of control over CBS.

Even if Ian suggested transferring the shares to James Perry for safekeeping, it wouldn't matter -- he could give or take them away just as easily!

James Perry shook his head slightly, "That's too outrageous; you should know CBS is about more than just news."

Ian smiled, "CBS is a news network; its full name is Columbia Broadcasting System, and news will always be its core, the crucial aspect in shaping the world. Its three-minute news reports might not generate much value, but their influence far exceeds three hours of soap opera drivel. We all know what that implies."

James Perry sighed lightly, "I believe in your abilities, Ian, but stories like the Palos Bank heist and the wife decapitation case are not always on hand."

Ian replied, "That's why we need to establish a tiered agreement. I guarantee that within the next three years, I will significantly boost CBS News's ratings! Let's let the data speak for us!"

As one of the top five television networks in America, CBS controlled vast audiences, and enhancing ratings and broadcast percentages occurred with great difficulty. The bosses racked their brains on how to further squeeze profits from the existing user base.

But the user base was eternal.

Profit was not on Ian's radar; he only talked about increasing users, as that was his area of expertise; as for monetizing the users, that could be left to the seasoned veterans.

They had money-making tricks up their sleeves.

Thus, in a period where user growth was stagnant or even declining due to the internet's impact, Ian's proposal was incredibly tempting. Of course, it also encompassed the internet.

Media moguls believed in the future of the internet being limitless, yet the reality was that it hadn't yet peaked during this era, particularly after the recent bubble burst, causing a conservative outlook.

But Ian understood better than they did just how far it could go; even if he did nothing, he wouldn't lose that bet.

James Perry realized the implications of what Ian was saying and stared at him in disbelief, "You have more big stories?"

Ian replied softly, "Bigger than you can imagine!"

*****

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