American Fortune Life

“Cough... John, relax. Relax. We're not talking about this, are we? Don't be angry. How can a newspaper leave you? ”

CEO Eddie smiled worse than crying, stood up, pulled Editor-in-Chief John back, held him to his seat with his shoulder, and smiled bitterly for a week.

“I know you're very dissatisfied with what happened in the newspaper recently, but what can I do? Now that the parent company has a debt of 12.9 billion, it will not be able to repay the debt at all. The application for bankruptcy is already positive. In order to repay the debt, the parent company can now come up with any solution. ”

Didn't Andy Smith file a takeover letter? If you're so short of money, why don't you promise to come down? If you sell now, it's worth it. Don't wait until you play dead to sell it, but you don't know what it's worth! ”Editor-in-Chief John was about to burst into iron today, watching his own crew get kicked out, and he couldn't hold back his anger.

His voice had just fallen, and in the otherwise silent conference room, he immediately became controversial, noisy, and watched the crowd at the crossroads. CEO Eddie also laughed helplessly. Why didn't he want to make the rich Andy Smith his own boss? However, the board of directors of the parent company disagreed, and because the matter had turned upside down, he finally didn't get a result.

“According to information I have received, the Miami Herald has entered into a deal with Andy Smith for a price of about 300 million, and a contract will be signed recently...” Executive Editor Dean spoke of the news he had previously received at the meeting, generating much more discussion, and almost everyone had an enviable look on their face, envying the Miami Herald newspaper.

“Holding a newspaper does not yield rich returns. As a successful genius millionaire, Andy Smith absolutely knows that newspapers are not as profitable as they were decades ago. Profits are low now and will get lower and lower.

But why does he keep buying newspapers that are already in decline? ”Editor-in-Chief John also calmed down at this point, frowned and raised his voice, immediately pressing down the conference room.

“I've been thinking about this, and while newspapers may no longer be the ideal investment target from an economic point of view, for some wealthy people, investing in influential traditional paper media is expected to gain great prestige.

And I even think that in the future there will be the survival of newspapers in the 1930s and 1940s, and big investors, big companies, will see newspapers as part of their philanthropy.

If the Los Angeles Times gets into Andy Smith's hands, he'll hold it for as long as he needs it, and invest money to make the paper stronger, and look at Newsweek, The New York Observer, which he bought for $1. Which one didn't get his financial support?

Even the British newspapers Du Li and Standard Evening News came back to life in his hands, and, as you know, a new issue of DU Li has cost you a million pounds just to open and promote, so big a pen. Have you seen it in recent years? ”

Editor-in-chief John's words caught newspaper executives in the conference room in contemplation. You know, according to the editor-in-chief's personality and habits, his words were not finished, and indeed, they were as people thought.

“Some people, on the other hand, think of the big newspaper as a 'cashier' and use that unrealistic set of ideas that led to a crisis in the housing lending market in the media, huh, this blind idea can be roughly summed up as he thinks that the good years will never end and the value of assets will continue to rise.

Forget about the financial turmoil, even in a very good economic situation, ten-dollar leveraged acquisitions amount to wild gambling.

Liabilities amounted to $12.9 billion, more than a dozen times the ratio of liabilities to various revenues. For media companies that rely on advertising revenues, this debt ratio is undoubtedly very heavy, as advertising revenues always fluctuate with the economic situation. And this is a disaster for industries such as newspapers that face a long-term downward trend! ”

cEO Eddie hears that it's the corner of his mouth, and his heart is slandering the editor, John, Nima, who is actually 13 Pulitzer News Award-winning bulls, bragging and stepping on six bi.

However, the other party's statement is definitely very convincing. If you look at the faces in the conference room, you can see that these guys are already anxious to get out of the huge pit of Forum Corporation one day early and grab Andy Smith's big tui.

As the publisher of The Los Angeles Times, CEO, Eddie was still very capable. He wanted to have a homeowner's dad more than anyone, but when he met his parent company who was going bankrupt, he had to pinch his nose and admit it. He knew that for two consecutive layoffs, he had already been greeted by a lot of people by the family's female xing.

After noticing that the atmosphere in the conference room had suddenly become a little strange, people looked at him with a slightly more ambiguous look, seemingly looking at the position of his CEO.

Suddenly, the look on Eddie's face didn't change much, but he glanced at it and made some sort of determination. Suddenly, he said to one person beside him: "Tompkins, our newspaper's pension debt has reached $50 million. After this bankruptcy application, it is possible. ”

As the chief xi of the newspaper trade union, Tompkins is definitely the hottest one in the newspaper. Not only has he had two 'big washes’ in four months, but the employees who have been dismissed complain every day. More importantly, the surge in pension debt, the bankruptcy application of the parent company, and the shrinking of the newspaper's funding make people very worried about the issue of pensions.

“Brush!”

The crowd in the conference room looked at Tompkins, none of the people present were idiots, naturally heard the meaning of stirring up the fire in the words of CEO Eddie, not to mention Tompkins as a union XI, but he didn't give a shit if Eddie was using him, anyway, he was being pushed out to play against newspaper owners.

“When it comes to pensions, trade unions will not turn a blind eye to the fact that in this economic environment, where the liabilities are skyrocketing and the parent company is heavily indebted and the pension liabilities are so high, the parent company must come up with a solution that does not pass the risk on to us! ”

“The head office doesn't have the money to pay us back, heh, they hate not even paying their wages.” Suddenly there was a cold laugh, but nobody cared, and you know, there was someone adding wood again.

“Not solved? Oh." Tompkins stood up grinning, ignoring the strange look on everyone's faces and slapping off the table.

“Then strike! ”

The content of this closed meeting was silenced by all participants, however, some strange changes were found in the newspaper. The whole newspaper atmosphere seemed to suddenly become depressed. Only those executives knew that a storm had begun to brew that would affect the future of the newspaper!

Just landed at Kennedy Airport in New York, and Lord Ivana me. Andy, who got in the car and drove to his home in the Upper East Side of Manhattan, didn't know that a group of people were holding their breath to hold him.