Going Into the World!

Kurch Media is the number one media dinosaur in Germany against the RTL group. The RTL group is based in the next-door country of Luxembourg, although the German-owned Vettelman media group is the largest shareholder. Technically, Kirch Media is the largest media company of pure German companies.

Media companies, especially large media companies such as Kirch Media, do not easily fail. Moreover, if you are someone who can find a group of this size, you know how to get along with people. Leo Kirch, who I met, is also a very skilled man, worthy of the likes of Rupert Murdock.

As he underwent his acquisition, he carefully examined why he reached bankruptcy, and came to a fairly interesting conclusion.

The biggest causes were 'greed' and 'no brake'. My acquisition of Group D's chairman was so energetic that he went around making too much money that he ruined it, but Kurch Media invested too much in him.

Moreover, for several years, betting has continued to increase for businesses such as satellite TV and sports relays, with no revenue of $500 million, $1 billion and $1.5 billion. If I knew Murdock, he would have stopped on one line, but he kept speeding without brakes, and the bank forced him to stop.

That would have been around the beginning of last year. He refused to extend his debt in the hopes that he would not receive the 500 million dollars they had loaned him from one of his long-standing banks. When the bank of transfers, who had just borrowed $700 million, announced on TV that they could not officially trust Kurch Media, the situation escalated.

Funny thing is, the bank was ranked number one on Kirch Media's mortgage, so the money they were going to get was for selling the company. Maybe he was complaining because he had nothing to lose, but the other banks screwed him over.

A $2 billion unsecured loan from a "neighborhood friend" who lives in Munich, Bayern Bank was completely hit by a direct bullet, and up to $1 billion if loaned at as little as $300 million, five large German banks and two American banks were sentenced to a fierce fight.

Around this time, the Johnstone Group was reviewing the acquisition of Kirch Media, which was a really difficult acquisition for the first time.

Of course, it would be enough to pay off the debt neatly, but this was not a penny or two, and it was between 70 and 8 billion dollars. On this scale, there is a difference between several hundred billion and several billion dollars depending on the way it is handled. Of course, the process is very complicated.

Those who ran for money weren't the only banks. Individual and institutional investors also invested between several thousand and several billion dollars, the company that spent the most money on Murdock's newscope invested 1.5 billion dollars in Euro satellite TV Premier.

In addition, there were just over a dozen small businesses under $200 million, with the name of the Italian prime minister and a company run by Berlusconi, which specializes in Italian media.

Negotiating with dozens of jobs, indirect debtors and investors does not take a month or two. He said he had to carve, bounce, reach, push, pull, threaten, and use all sorts of tools.

Of course, in the meantime I never came to Germany. In retrospect, I may have avoided Germany because I didn't want to come and fry mud water.

Sitting at the head office in the United States, I told Carls and the finance team that I was busy because I was in trouble when I came here, even if I found a Bayern place with unsecured money. If there is a 99% chance that it will not be possible, it is a person's decision to 'just in case.'

"Is the Kirch Media now a clean slate?"

The flood continues, but as a tuner, I have to think about my business in Europe now that I have roughly finished my work. It's been over a year since I decided to acquire Kirch Media, and I've been neglectful. I originally decided to change my mission to Johnstone Media, but I still use my old name.

"The Kirch Group is too complicated for accounting and contracting, and without his cooperation it would have been difficult to acquire. There were some problems in the middle, but we were able to get most creditors out of the way. There are also quite a few investors and creditors who have suffered losses. In the future, we may need to be careful about acquisitions in Europe."

Polo shakes his head as he speaks, but Kurch Media is the biggest case he's ever acquired from Johnston Group. It took more than six months to research assets with creditors, but everyone has never seen such a complex company. 'was an assessment.

Anyway, it was cleared up, but most couldn't help but take the damage. Banks, however, have invested nearly $3 billion in institutions, including NewCorp, over the past few years, and have spent it on aggressive mergers, failures, and debt repayments just before bankruptcy.

There are over a dozen of these investors, and less than a third of them said that they could be paid or retained. The acquisition of Kirch Media increased the dominance of the Johnstone Group through potatoes, debt creation and equity management, and demanded additional investment and equity management.

Kirch Media had a nearly 50% share in the German TV advertising market of $8 billion. However, over the past few years, the overall advertising market has drastically declined, particularly last year and year.

With the main income source hit, the complex contractual relationships that made the company's financial statements poorly identified, existing investors chose to sell their shares for a fractional price, rather than further investment.

However, Murdock insisted that he would continue to own a share of the satellite TV business, but he had already reconciled and given me a lot of concessions so far.

"But what's wrong with the European economy? IT Bubbles exploded in the United States, 9/11 came from the United States, but you think this place is more troublesome?"

"Ordinarily, it's hard to fix. It will take a long time for the European Union to take its place. Even if we do, we won't be able to solve unemployment or drive growth unless we have something big going on."

According to Mr. Carls, Mr. Polo agrees. I think so, too. If being afflicted is easy to cure, it cannot be called affliction.

It was not a bad idea to tie countries on the continent together to create a single economy. Starting last year, the euro went into practical integration by distributing it in formal currency, with the euro surpassing the dollar this year and now becoming a valuation award of 20-30% or more. The game is bad, but there's nothing good about getting on the phone.

It was a great start, but the results so far sucked. When the Internet bubble exploded, he was so excited that Europe was going to beat the United States, but completely opposed.

This year, the United States has exited the bubble and is experiencing robust growth of more than 3%, while all major European countries expect growth of less than 1%. Germany is pouring another drink to record negative growth.

The boats go to the mountains because there are so many knights. They realized something, but even in the 20th century, they could not easily cooperate with those who had fought a great war twice. They say they're great at each other all the time, but it takes a lot of time to make a trade agreement, one stimulus.

"What's the plan, then? Six billion dollars has been spent on Kirch Media so far. Isn't it a big deal if your advertising revenue decreases by 20%? You didn't leave your hand because the view was dark, did you?"

A little noise came out of nowhere: Six billion dollars isn't even a dog's name, but it's a big hit on the company's main source of income. If I lived in Germany, I'd be president of a large media group, so I could brace my shoulders, which would be great. The problem is that I don't usually stay in the United States a few times a year, but in return, six billion dollars is too big.

"Chairman, I've actually been thinking about a few things."

"What? Then tell me quickly."

Mr. Karls opens his mouth very carefully to see what the alternative is. There are only two things when you slow down like this. It is difficult to implement or money breaks down.

"Now I think we need a big expansion to the east. Needless to say, Russia is growing as the economy is rapidly expanding from Poland, Czech Republic, Romania, Hungary to the three Baltic countries. And there are a lot of companies in the region, but not just Russia, which is led by state-owned enterprises.

If we push aggressively, it shouldn't be too hard to take over Eastern Europe. Johnstone Group has a major movie, music and cable TV subsidiary, making it an absolute advantage of content acquisition. There's nothing rough about funding here. "

What am I, a slut? Heading east?

When I hear what I'm hearing, I want you to go east. I asked him to come up with a way to bring Kirch Media back to life, and he told me to play the game even louder. Leo Kirch grew up like this and fell apart.

Of course, Chairman Kirch and I are not the same, I'm not afraid to be damned because I have hundreds of times more stakes, but I know that the talking foam is my pocket of magic.

Major competitors such as the RTL group and the Modern Time group were already reaching out to the area, but Kurch Media was the only one holding out their hands for internal reasons. According to the explanation, media companies in the United States and Western Europe have entered many countries, but no one is clearly ranked first.

"There are so many countries in Eastern Europe. How long do you think you'll be there?"

There was a bit of a grumbling, I don't know.

"CME is a company with various channels in six Eastern European countries, and I think it can be acquired. And other countries, like Russia, Poland, Hungary, Ukraine, there are also a lot of acquisition stations.

If we get 200 to 300 channels from a large investment in the region, we can outperform our competitors. In the original media, a big company wins. "

CME is an unusually Bermuda-based company that started broadcasting in Eastern Europe in the early 90s and now owns 30-40 TV and radio stations in Czech Republic, Romania, Bulgaria, Croatia, Slovakia and Slovenia.

However, in the last two or three years, major media companies in Western Europe and the United States have been experiencing a major crisis as they push in, so if they reach out from Johnston Group, they will not be able to refuse.

However, as this was not only a CME issue, many channels in each country seemed to be threatened by the presence of large capital media companies.

Mr. Karls explained to me more specific ways and reasons for entering Eastern Europe. Earlier last month, Poland was allowed to join the Euro Zone and had already outgrown its Western European counterparts, Greece and Austria, on an economic scale. He also said that the economic outlook of the minority owners in Czech Republic, Romania and Hungary is very bright.

What is unusual is Russia, the largest market. Despite the fact that governments and related companies own a large portion of the broadcast market, it is said to be the place where European and American companies are the most advanced. This is why there is so much to share.

"Sir, I don't think we need to look at the media market in advertising and other income. Even with Prime Minister Berlusconi, Italy, dominating the media can expand its influence in many ways. “

"What's that supposed to mean?"

Until then, Polo, who was silent, suddenly intervenes and gives a different opinion. I asked for a more specific explanation.

"Taking control of the media is like having a card to negotiate with the key players in that country or region. If you are in a position to influence a financial relationship, it is useful if you are doing business or need other help. “

I pause, look at my face, and then explain to my eyes to continue.

"Johnstone Group, in particular, has numerous subsidiaries ranging from movies, music, energy, Google Myway, consulting, fashion to electronics, automobiles, construction, cards, investments and heavy industries to hotels. If you regularly export promotions and advertisements for products and services on 200 to 300 channels and other media, it will greatly help our subsidiaries to stay in Eastern Europe.

We can get our former affiliates to take the lead in this market as well as the media. The economic benefits may be greater than you think. "

Polo's opinion moved my mind. I thought too much of it as advertising, but I couldn't help but think of the media. If you put this area at your fingertips, it will be profitable in the short term and the long term.

"So how much should we invest?"

I asked Mr. Karls about his determination, but I was curious about the specific number because I felt that he had done enough research in advance.

"CME can only be acquired within 500 million dollars, but it would take around 10 billion dollars to reach 200 to 300 TV channels across Eastern Europe. In order to run other media-related businesses and gain a unique impact, it would require an additional $5 billion in funding."

There was a laughter in Mr. Karls' continued description. Competitors said the most spent at least $10 million was less than $1 billion, and I felt that no matter how much I scouted all over Eastern Europe, it was a little too much. He thinks I'm a martyr.

However, if you want to place first, which is not more than the middle, you can spend not 15 billion dollars, but 20 billion dollars. I was "saving hard" while refraining from shopping, but it also makes me hit the conflict.

Artwork Reviews

He said he was interested in over 80 locations when the Kirch media went down and gave a presentation on the sale of their assets. Carrots, the main European media companies, including Murdock, Berlin and Coney, came in total.

If you look at the article at the time, it's the first time a major media asset like this has appeared on the market in almost a few decades, and it's been getting a lot of attention, but it hasn't actually been sold for a year. (By the way, debt was $70-8 billion, but Kirchy Media's moving assets were $2-3 billion? That's a lot. Don't get me wrong.)

Many of Europe's professional accountants and lawyers were shaking their heads, including contracts and biting investments. A few years later, it was finally torn apart and sold, and Murdock ate a couple of big ones.

The media market in Eastern Europe is teeming with companies in Europe and the United States. I looked around at the major companies, and everywhere I went, I went to more than one or two Eastern European countries. By the way, Time Warner also acquires up to 49% of the CME assets mentioned in the text across you.

In addition, news companies from around the world, such as Walt Disney, News Cobb, Time Warner and Biacom, are leading the acquisition of large companies such as CBS Cobb, Betelsmann, Sony, Combat, Vivendi, Hearst, Global Organisation (Latin America), Lagardesa, and other large companies.