Chapter 175: Selling the Newspaper Industry
[Chapter 175: Selling the Newspaper Industry]
"Extra! Extra!"
"Alexander Jenkins apent the night with ABC's Vice President Jaylen Waxim. Is there a conflict of interest between the Academy and ABC?"
Not long after the elevator incident, another major news story broke.
This time, it tied a prominent Academy Award figure to an executive at ABC News, leading CBS, which was vying for the Oscars broadcasting rights, to flood the pages with coverage about this story.
Once this news hit, it undoubtedly made it much more difficult for ABC to negotiate a renewal with the Academy Awards.
The other senior members of the Academy would be furious: why weren't they benefiting from this?
This just goes to show that scandalous news isn't always just fluff; when used well, it can serve a significant purpose.
Ian favored this business strategy driven by leaks; at least it was a win-win situation -- those commercial maneuvers that relied on discretion offered little help for media growth.
...
With the news breaking, and after Ivor Clemens also managed to secure Danny Chalin, things moved swiftly.
CBS accepted the Academy Awards' bid, securing a ten-year broadcasting deal for $12 million, with a revenue-sharing agreement based on viewership.
This achievement sent CBS's stock soaring.
...
The Gannett Group also took notice: Ian Carr was quite remarkable; his leaks even benefited business operations.
Gannett's shareholders needed to keep their interests hidden, and aligning with Ian Carr meant they didn't have to worry about him leaking their secrets. If relations were managed well, they could even gain advantages from him -- though Ian's ruthless business tactics were already known, he never turned on his friends.
...
Even the DuPont Group was mildly dissatisfied; the Times hadn't depreciated but had merely risen lesser than the DuPont Group had expected. Compared to the majority who liked to sabotage their teammates, Ian was doing pretty well.
...
In simple terms, despite Gannett Group not being able to gain much from the deal, the potential hidden benefits represented by Ian's methods were limitless.
So even if they faced losses in public dealings, they had to engage!
In this scenario, Gannett Group quickly reached an agreement with Ian.
They accepted his terms, willing to pay Ian $1.54 billion while granting him 15% of the group's shares, making him part of the group, free from the debts incurred from Gannett's acquisition.
At the same time, Gannett Group bought 30% of the DuPont Group for $240 million, and the DuPont Group paid Ian $135 million for 10% of Gannett's shares, which Ian held on their behalf, promising to always include DuPont Group's advertisements along with major news."
Truly, the DuPont Group was clever; they realized that newspapers wouldn't last forever, so they'd get locked in with Ian Carr. No matter how he operated, they'd always get their news!
At this point, Ian only retained 5% of Gannett shares, but his stake was recorded at 15%. After a merger, he secured shares from the leading newspaper group in America, all while not spending a dime and earning nearly $2 billion.
This consolidation of the newspaper industry placed Gannett Group ahead of all others: they owned the top three newspapers in the nation, becoming the undisputed leader in the newspaper industry.
Yet, while some rejoiced, others felt sorrow.
...
Ron Lloyd was heartbroken.
As a long-standing member of the Herald, he had deep emotional ties to the paper.
During Ian's more troublesome days, he had worried about the future of the Herald, but once Ian rose to prominence, he began to feel excitement about everything.
But he never expected that this second-generation heir, Ian, would destroy the Herald. The business genius Ian turned out to be the one to sell it.
He sold off the company he built without a second thought!
How could he have the heart to do that?
Did he have no feelings?
In less than two years, Ian transformed the Herald into the nation's leading newspaper, with profitability that surpassed nearly every other paper in the industry!
The New York Times, the Washington Post, and the Wall Street Journal were all envious of the Herald's earnings; some even recorded losses!
Then Ian nonchalantly sold it off!
Completely unemotional, completely without sentiment!
...
"Don't worry, I've assured Gannett Group that you will still be editor-in-chief of Herald."
In the office, Ian comforted Lloyd.
Lloyd managed a bitter smile.
He knew that this kind of talk was utterly meaningless.
The folks at Gannett were ruthless; their operations were known for mediocrity and frugality.
They made money through cost control and produced news through volume... They were the type that leveraged their channel advantages to puff up worthless news into big stories.
With such a business model, they would undoubtedly execute layoffs mercilessly upon takeover, eliminating anyone they deemed extraneous. If one wanted to avoid being laid off, salary cuts would be unavoidable.
They might even strip the Herald like Ian did to the Signet Daily!
The only difference was that Ian didn't care... He never viewed the Herald as his child, merely a tool to help him soar in life.
As for his own position as editor-in-chief, he probably wouldn't hold it for long.
Not just him, but also Ezriel from the Times, they would both be packing up.
But he couldn't say this; he could only watch Ian sadly say, "The Herald still has room for growth; you definitely don't need to rush."
Ian sighed.
"Don't try to grab the last penny, Ron. Everyone knows the Herald has room for growth, which is why it's marketable. But when it truly peaks someday, you'll find it won't be sellable... Now is the moment!"
As he spoke, he gave Lloyd a hug.
"If Gannett does lay you off, remember, LANN has a position for you."
The old man sighed and shook his head.
"I'm used to written reports; I'm not suited for television news. Maybe I should retire."
Seeing the sorrowful face of the elderly man, Ian found himself at a loss for words.
He suddenly began to understand why some people would start eliminating the old guard...
In a certain sense, he too was doing the same!
Ultimately all he could say was, "If that day ever comes, I'll ensure Gannett offers you a generous severance; and as long as you're willing, Carr Media will always have a spot for you... There are written pieces in television news too."
Ian didn't want to become a tyrant, so he chose the path of gentle power-sharing over bloodshed.
...
Compared to Lloyd's despair, Deryl Chandler felt much better.
He was still young, adaptable, and more importantly, he had known of Ian's plans since last year, so he was already adjusting to the new environment and working hard at LANN.
In recent times, Ian had little focus on LANN; it was primarily Deryl who built it up.
He was doing quite well.
Thus, Ian had committed to granting Deryl some shares in LANN next year.
...
After comforting Lloyd, Ian sat in his office, looking out the window.
The Herald had been sold; its headquarters would soon relocate, paving the way for LANN, the Los Angeles News Network.
Old faces would leave; new ones would arrive!
A whole new media empire would rise.
This media empire would focus on media at its core and investment as a supplement, continuously infiltrating America and the world...
Alongside collaborating with Gannett Group, Ian also partnered with the Trump Group.
Besides the original conditions, the Trump Group would help him attract various major clients -- there were plenty of wealthy real estate developers!
In the past half a month, Ivanka had completely submitted to Ian's charm.
Whatever position was preferable for him was good with her.
In her mind, Ian Carr was the most significant factor.
*****
https://www.patreon.com/Sayonara816.