Chapter 300: Fully Controlling MGM
When deciding to acquire MGM, Liu Hongmin asked Feng Kan to collect negative information about MGM.
As a Hollywood giant, MGM has a lot of dirty secrets. Anyone who is interested can find a lot of them. Previously, the media was afraid of MGM's prestige and did not dare to expose the secrets.
Now that Feng Kan paid to expose the news, naturally some media would be attracted by the money. Moreover, Feng Kan controls a field that MGM cannot interfere with, that is, the Internet.
Feng Kan helped Liu Hongmin acquire many Internet companies. As long as Feng Kan gave the order, these Internet companies would become the forefront of the revelations.
Soon, negative information about MGM was all over the Internet and offline. MGM's shareholders were furious. They ordered a thorough investigation to find out who was behind the incident. Unfortunately, Feng Kan did it anonymously when he went to the media to expose the information. MGM could not find any information about the online information. They did not even have a clear concept of the Internet and just thought it was a personal behavior.
The scandal quickly spread, causing MGM's stock price to depreciate. MGM's shareholders became anxious. If this continued, their wealth would shrink again.
Some shareholders regretted that they would have sold their shares to Liu Hongmin earlier. Other shareholders are trying to find a way to increase the share price.
At this time, the CEO of MGM said at the shareholders' meeting: "Everyone, the stock price is falling every day. If the stock price is not raised, you will suffer losses."
The shareholders certainly know this, but there is really nothing they can do.
"Of course we know, and we also want to increase the stock price, but we haven't figured out how to do it!"
"That is, if you have a solution, tell me as soon as possible."
"That's right. We asked you to come here to help us solve the problem, not to let you make sarcastic remarks."
The CEO brought out the filming plan for Pirates of the Caribbean and said, "I have a ready-made method here, but you rejected it."
The shareholders looked at the plan on the table and fell silent. They knew that if they agreed to the plan, the stock price would definitely go up. "Pirates of the Caribbean" is a famous fantasy novel, and was even compared to Tolkien's "Lord of the Rings" for a while. Therefore, publishing the plan would definitely increase the stock price.
However, they did not want to agree to this plan. Agreeing to this plan would mean that they would bow to Liu Hongmin.
They allowed Liu Hongmin to invest in MGM just to trick him. If they gave in to Liu Hongmin, it would be like handing over the actual control of MGM to Liu Hongmin, which they could not allow.
The CEO looked at their expressions and couldn't help but spread his hands.
"Okay, gentlemen, if you don't agree, then I can't do anything about it. If you think I'm not capable enough, I can resign."
When the shareholders heard this, they quickly tried to appease them.
“Andrew, that’s not what we meant.”
"That's right, Andrew, we have seen your work over the years."
If the CEO resigns at this time, then MGM's stock price will definitely fall further. If they still can't find a way to raise the stock price, then MGM may go bankrupt directly. If this is the case, they will fall into the pit with Liu Hongmin. They only want to pit Liu Hongmin, not die with him.
The CEO waved his hand and left the meeting room, but after leaving the meeting room, a smile appeared on his face.
Compared with these shareholders, he supports Liu Hongmin more. Although Liu Hongmin does not manage Tomorrow Film Company, he knows about movies. However, these shareholders of MGM know almost nothing about movies. Otherwise, MGM would not have come to where it is today.
The filming plan of Pirates of the Caribbean was enough to prove his guess. This filming plan was very professional, not only taking into account the difficulties of filming, but also the problems of special effects. But in terms of cooperating with Director Cameron, Liu Hongmin was much better than those shareholders.
However, it is not easy to make the shareholders surrender. But Liu Hongmin already has a complete plan, and he just needs to follow the plan.
After the meeting, Liu Hongmin once again asked Feng Kan to release some new negative information to depreciate MGM's stock price.
The shareholders got angry again and quickly convened a shareholders meeting to discuss a solution. CEO Andrew once again brought out the "Pirates of the Caribbean" filming plan and told the shareholders that this was the best solution. MGM is a film company, and there is no better good news than shooting a new movie.
Some shareholders were shaken and agreed to the filming plan, but more shareholders still wanted to struggle, and it was obvious that the current share price was still within their acceptable range.
CEO Andrew also did not press the shareholders, but instead proposed to end the meeting and let everyone reconsider it.
Feng Kan saw the reaction of the shareholders and knew that Liu Hongmin's plan was already halfway done. After the meeting, Feng Kan called Liu Hongmin to announce the good news, "Sir, our plan is progressing very smoothly. Some shareholders have already wavered and chosen to support the filming plan of Pirates of the Caribbean."
Liu Hongmin smiled and said, "Continue as planned."
"Ok!"
Liu Hongmin hung up the phone and called Richard and Hasbro, asking the two giants to put pressure on MGM.
As more negative information was released, MGM's stock price fell again. Shareholders were getting anxious. If the stock price continued to fall, their losses would be huge. Some shareholders even wanted to sell their shares, and many of them contacted Feng Kan privately.
Feng Kan told Liu Hongmin about this, and Liu Hongmin smiled and said, "We'll buy as many as we can. We should have enough money, right?"
"Of course it's enough!" Feng Kan said with a smile, "We still have more than 20 billion US dollars in our account. At the current stock price, it is enough to acquire more than 35% of the shares."
Liu Hongmin nodded, "Very good, then buy as many shares as possible."
Feng Kan took immediate action and acquired another 17% of the shares. Although it did not reach full control, Liu Hongmin had become the largest shareholder of MGM.
Random House and Hasbro found familiar MGM shareholders and expressed their support for Liu Hongmin. These shareholders were surprised, but immediately changed their stance. With the support of these two giants, Liu Hongmin could have launched a forced acquisition procedure. If they didn't want to be eliminated, they could only listen to Liu Hongmin.
With the support of these shareholders, Feng Kan quickly took control of MGM. Those shareholders who were still dissatisfied were kicked out by Feng Kan. In the process, Liu Hongmin's shareholding increased to 52%, completing the control of MGM.
(End of this chapter)
