Chapter 939： Carve up Fox?

From Disney’s perspective, the main motivation for this acquisition is estimated to be the combination of content and traffic to counter the impact of Netflix and other streaming media.

Since entering the Internet age, the hegemony of the traditional entertainment industry in the United States has been gradually disintegrating, and mobile video sites have gradually become the mainstream in the market.

In the field of streaming media, there is a "Big Mac" like Disney, that is, Netflix. Disney's disadvantage is that the platform is not rich in content resources.

Although Disney and Netflix signed a cooperation agreement, the two parties have been happily working together for many years, but as long as the agreement is limited, their partnership will end one day. After that, Disney will either set up its own streaming video platform or He continued to look for cooperation with video sites. Obviously, with Disney's style, he was unwilling to give the initiative to others.

But no matter what, if you want to get a piece of the pie in this digital battle, you can't win it alone.

As one of the oldest film studios in the United States, Fox’s high-quality IP and huge number of consumers are just in line with Disney’s needs, especially some of Marvel’s classic characters. If Disney can successfully acquire, it will undoubtedly be more for the integration of the Marvel family. One step closer, think about it, adding Wolverine, X-Men, Deadpool, Fantastic Four and other roles in "Avengers" is undoubtedly an important factor that can stimulate the box office.

Of course, in addition to Fox’s IP resources, Disney’s most fancy is the traffic on Fox’s video website. Hulu Video is backed by NBC, Fox, and ABC’s supply of genuine film and television dramas, and has more than 14 million in the United States. Paid users, this is undoubtedly the icing on the cake for Disney, who wants to build a streaming media service. If the acquisition is successful and the hulu video is acquired, Disney's entertainment empire will further grow.

For Murdoch and his News Corporation, on the surface, a pillar has been lost, but is it not a typical case of selling high and buying low? As early as a few years ago, when Murdoch separated News Corporation and Fox, he was probably making such a plan. It was only today that he officially announced the news.

However, compared to Disney's ambitions, Murdoch chose to disintegrate the film and television drama production company that has been operating for more than half a century at this time. This courage is enough to make Yang Cheng admire.

In the past, Murdoch divided the business under his name into journalism and entertainment. If it was journalism that made Murdoch famous, then the entry into the US entertainment industry really made him rich and famous. The noisy media tycoon, now he has cut off an arm personally when he is not experiencing a life or death crisis. Does he believe that he has the ability to regenerate the broken arm?

However, Yang Cheng believes that if this merger really happens, it seems that Murdoch will "hand over others" in the film and television industry, but it is actually a precursor to Murdoch's further big moves.

In recent years, affected by the decline of traditional media, the Fox Group’s advertising revenue has also been shrinking year by year. The box office of summer movies has hit a record low year after year. In the future market competition, Fox with a single business is destined to not build countless Disney’s opponent in a moat.

Rather than being beaten to death and unable to fight back, it is better to survive with a severed arm. When the market value of Fox reaches its highest point in history, sell most of the assets in exchange for cash and more valuable Disney shares, thus ensuring that assets will not shrink At the same time, there is still room to develop new businesses.

Of course, perhaps an important contradiction has occurred within the Murdoch family. This is a power transfer. Even outsiders know that there are many differences between the youngest son James Murdoch and his father in charge of the Fox Entertainment section. It is believed that James' failure to properly manage the Fox Group has caused the profitability of the entertainment business to shrink, and his position is constantly challenged and surpassed.

This Yang Orange also has a big relationship. Originally, without the intervention of New Era Films, Fox Group could continue to shine for a few years, but because of the strong entry of New Era Films, Yang Cheng supported it. Donna Rand, the devil, has set off a **** storm in Hollywood with her large funds and publicity advantages. She not only robbed the film distribution rights that originally belonged to Fox several times, but also achieved great success. One gain and one loss caused a fatal injury to Fox.

As for Lachlan, the eldest son in charge of News Corp., I am afraid that Murdoch has already been tacitly recognized as the heir to the empire. He sold the assets of the younger son and gave some money away, leaving the core assets to the eldest son. Everyone was in a daze. In order to complete the inheritance of the family business, Lao Mo played a very beautiful hand.

However, the above is only Yang Cheng's analysis in a very short time. No one knows whether it will develop as he predicted.

On the other side of the phone, Ryze Khan is still looking forward to it. If he can personally control a M&A case of the century that exceeds $50 billion, he should have no regrets in this life. For professional managers, this kind of thing can leave a name in history. No one wants to miss this opportunity, even if he is an Indian CEO who is recognized by the outside world as low-key and careless about reputation.

But Yang Cheng has too much to consider. First of all, the acquisition is impossible. Not to mention New Times Media, even if the Yuanshan Group is tied up, there is no way to come up with tens of billions of dollars in cash flow at once. It doesn't work if you take it out. A distant mountain and New Age Media that have been emptied will undoubtedly be a target in the eyes of the opponent or a fixed target.

Then we can only take the road of mergers and acquisitions. If mergers and acquisitions are possible, the volume of New Era Media is not large enough. Counting the premium part of the competition with Disney and Comcast, Fox’s market value may surpass 70 billion US dollars, and now the new era What is the market value of the media? It's only one-third of Fox's full budget. Who will buy?

Even if the merger is successful, New Era Media will change its surname, and will no longer be surnamed Yang but Murdoch.

But this piece of Fox Group’s cake is too tempting, no matter who eats it, it will become one of the big crocodiles influencing the global entertainment industry, and if it is swallowed by Disney, it will completely establish its dominant position, and no one will ever want to challenge Disney. Authority, unless the remaining large companies are merged into one.

No, we absolutely can't let this happen. Yang Cheng is still thinking about making waves in Hollywood. The ship encountered an aircraft carrier before it even went to sea, so what a fuck?

Thinking of this, his gaze suddenly became fierce, and he said to the phone, "Contact Universal, Time Warner, and Columbia. We have divided Fox together. No matter what, we must not let Disney dominate."

Although this is different from what Ryze was expecting, it is a good start, isn't it? Ritz also knows that the new era media cannot swallow Fox, but dreams can still be done.

Ryze said, "Boss, first let me know what part of Fox's industry do you like?

After Mr. Murdoch split his business a few years ago, he established the new 21st Century Fox Group. The new company has two main businesses, film and television.

Specifically, 21st Century Fox owns Fox Entertainment Group, which is a company with multiple assets such as 20th Century Fox Film Company and Fox Television Network;

Star Media, a pan-Asian paid channel operator;

As well as Italian Sky TV, German Sky TV and British Sky Broadcasting Corporation, they own 39.14% of the entire Italian Sky TV and British Sky Broadcasting Corporation, as well as 54.5% of German Sky TV.

As for the TV broadcast network business, the asset portfolio includes 28 TV stations in the United States, including Fox, Fox Sports, Fox News, and National Geographic Channel. "

As soon as the voice fell, Yang Cheng couldn't help but joked, "Does it seem that you are fully prepared?"

Ryze smiled embarrassedly, "This is my job responsibility."

Yang Cheng snorted, frowned and thought for a while, "To be honest, I don't value the resources of the movie part, and I am afraid that we can't compete with Disney, which is determined to win, but the TV part of the asset can be worked hard.

Sky Sports, Star TV, National Geographic Channel, and Fox Sports will be our focus. If we can, if these four are taken down, CW TV will gain a firm foothold among the four major TV stations. Of course, FOX is an alternative. If it's better to win, it doesn't matter if you can't win. I guess Universal NBC will value the FOX channel very seriously. "

Ritz knew it, "I'll go talk to those companies I need Ms. Donna Lande's cooperation on this matter."

Yang Cheng nodded and agreed, "Of course, I will inform her."

Hanging up the phone, Yang Cheng felt that it was necessary to go back to the United States. Disney acquired Fox. One hundred percent of the lead behind the scenes was Robert Iger. This acquisition madman said several times that he would retire, but each time he had to make a big move before retirement. He had to extend the contract. Now he is in his 60s and rushes to 70. It is time to fulfill his dream of running for the general manager. As a result, such a big moth has appeared again, and Yang Cheng has to admire his skill in doing things.

Of course, Iger’s retirement time has been postponed repeatedly and his tenure has been extended several times. This is also related to his repeated success and the result that Disney has not taken over.

After all, for an entertainment empire with a market value of hundreds of billions, choosing a successor is a very complicated matter. Generally speaking, there must be at least a long transition period of 5-10 years. One is to allow the successor to adapt. It is used for board inspection. After all, Disney is no longer a family business. The major shareholders who have entered the board of directors are the real masters of this huge empire.

However, long-term control of a company's power may have a destructive effect. Power monopoly will not only make the controller become confident and even conceited, but also cause unpredictable losses, such as changing dynasties!