Chapter 1484 The 3rd Battle of Disney

'We will support the separation of the chairman and CEO positions at tomorrow's shareholders meeting...'

After the market closed, another shareholder of Disney jumped out to echo Goldman Sachs' proposal. At this time, the old white man who spoke in front of the camera was the manager of the California Public Employees' Retirement Fund. This kind of institution that rarely expresses its position publicly but has a huge influence has let go. It basically means that the general trend is set.

This old white man used to be a die-hard supporter of Eisner, and he used to be called a nest of snakes and rats, but Disney's market value fell by 30% in ten trading days, 1.6 billion, 7 billion...how good My friendship is useless.

Moreover, Paulson, chairman of Goldman Sachs, is likely to use tricks behind the scenes, and time is running out to figure it out.

Since tomorrow's shareholders' meeting does not have an agenda to discuss the separation of the positions of chairman and CEO, it means that shareholders will express their anger by collectively rejecting Eisner's re-election as chairman and CEO. The president was impeached by both houses after the scandal broke out.

Although the money from our side went in, it was bought after the registration date of the shareholders' meeting, so it would not be of any help at tomorrow's meeting.

a+ copyright and asset management company and First Bank of New Jersey currently own a total of 0.86% of Disney's shares, which means that they have thrown in 350 million dollars in a short period of time. It is impossible to stop the loss. Based on today's closing price, about 30 million knives have evaporated.

It's that damn Paulson again... how much Goldman Sachs made in these ten trading days! ?

Thinking about this, Song Ya grabbed the hair of Xue Linfen and Mira, who were in front of each other, and opened and closed, ignoring their constant slapping of her thighs begging for mercy.

"Did Eisner agree? How hopeful do you think you are after tomorrow's shareholder meeting?"

After fastening on his nightgown and belt, Song Yalong hurried to Beverly Hills, walked out of the bedroom, and continued to work. He asked Linton: "Since the separation of chairman and CEO is a foregone conclusion..."

He lost a small loss in the battle to save the city, but there is another chance to win the battle. Since Eisner must give up one of the two positions, can Linton just take the opportunity to take the position?

Isn't this his ultimate goal of being a die-hard royalist?

Why don't you get so tired from licking Eisner for so many years! ?

"I'm trying my best... Yes, the CEO position is more likely to be better...but the chairman can also accept it. Anyway, I'm trying my best."

Now it was late,

Linton was still walking around the living room excitedly, "How sure? 50-50. I think if Eisner wants to retreat to the chairmanship, then being the CEO means that he still retains absolute control over Disney. We Let's play a show together for the outside world. If he wants to retreat to the CEO and continue to firmly control the company's operations...then my chances are smaller. My age, qualifications and performance are a bit unconvincing. The outside world will definitely question wildly, and Ace Na's power madness also knows in his heart that if I really become the chairman, it will be very difficult for him to hold me back..."

"Your competitors are still those old faces." Song Ya poured him a glass of spirits.

"Yes, yes, it is almost impossible for Robert Iger to become the chairman in one step, but the call for him to take over as CEO is the highest. The ABC department is his strong backing. Jobs has already hinted that he will support him with his actions, so he will control the Disney business. After the rights, Pixar Animation is likely to reach a certain degree of compromise with us to solve the biggest hidden danger of Disney back then, and shareholders will definitely be happy to see it.”

Linton took the glass but couldn't think of drinking it at all, "George Mitchell is a politician and doesn't understand business at all. He has the biggest advantage of taking over the chairmanship, that is, he is almost seventy-two years old, and he has no energy. Without the power to intervene in the specific management of Disney's various departments, there is no guarantee that Eisner will not plan to push out George Mitchell as a shield for two years, and after this round of crisis, he will drive away George Mitchell and regain monopoly Power. It’s not like he hasn’t done this before, for example, after driving away Katzenberg, he found his old friend Ovitz, and then ruthlessly drove away after the heart operation was successful.”

"Is it impossible for Roy Disney to come back?" Song Ya asked.

"It's also possible, but Roy's return means that Eisner has completely lost his fighting spirit and plans to bow to the enemy and pave the way for retirement."

Linton replied: "Put yourself in the shoes, Eisner's best solution is to let George Mitchell take over as chairman."

"In addition, the Weinstein brothers also support George Mitchell." Song Ya calmly reminded: "This means that George Mitchell is not completely without influence in Disney's management affairs."

"right!"

Linton became more elated, "But my opinion is different from yours aplus. This! This is George Mitchell's biggest failure so far! The public support of the Harvey brothers will make Eisner feel confident about George Mitchell's true strength. Doubtful, and Eisner loathes Harvey, especially after Harvey publicly rebelled. The Harvey brothers, Miramax and Dimensions, are only minor players within the company..."

The two discussed and discussed, and finally agreed that the chances of winning are great. Linton is behind his own record and a+ entertainment department, plus the Disney copyright company he directly manages, and Buwei Pictures, Touchstone Pictures, and Brookhay Films that he won over. Mo Film Studio and other live-action film gangs, their strength should not be underestimated.

The two then made up their minds to call Eisner again and proposed to visit overnight, but the answer there was that Eisner had already taken medicine and fell asleep, and would go directly to the shareholder meeting tomorrow.

Regardless of Robert Iger, George Mitchell or Roy Disney, it is impossible to persuade them to quit at this time, so...the only thing left is to wait.

"Everyone! Please take your seat as soon as possible, thank you..."

On March 3, 2004, Eisner, who was wearing a light-colored suit and had a scruffy back, sat in the center of the rostrum, silently scanning the venue.

Representatives of Disney shareholders were already seated one after another. The bosses would not come to such an occasion in person, they would send proxies, plus the small shareholders who were doing good things, so most of the faces he saw were unfamiliar faces.

He is in very good condition today, and he is not strong. He really feels that his spirit and body are at their peak in recent years. For a king who has experienced many battles, the greater the pressure, the stronger his fighting spirit will be.

"Please don't bring irrelevant items..."

"No! No no!"

At this time, there was a little commotion in the venue. The staff wanted to take away a placard made of cardboard from the hands of a middle-aged white shareholder representative wearing a jacket and looking like a blue collar.

The middle-aged white man held onto it tightly and refused to let go. Under the struggle, the back of the placard was lifted off, 'Michael get out! ’ The words came into Eisner’s eyes very clearly.

"Michael get out! Michael! get out!"

The placard was finally snatched away by the staff, and the middle-aged white man simply raised his fist and shouted slogans, which must have been premeditated, and soon some representatives gathered around him, getting more and more orderly, and their voices getting louder.

"no, I'm fine……"

Pediatrics! Eisner turned on the microphone and prevented the staff from driving the troublemakers out of the venue, "Let them stay, just keep quiet." Then he calmly looked into the eyes of the middle-aged white man and said, "There will be a chance for you to speak Yes, I promise, but please submit an application to the staff according to the shareholders' meeting charter, thank you."

With Dong Zuo's generous attitude, it would be too much to make a fuss. The group of people sat down together and finally subsided.

At this time, someone handed over a document, and Eisner took a casual look at it in his hand. The data showed that the total shareholding of all shareholder representatives present at the meeting today was as high as 52% of Disney's total share capital, which is an astonishing proportion. , It also means that almost everyone wants to see changes today.

"Ahem! Ladies and gentlemen..."

I don't know how many times I have presided over the shareholders' meeting. When the time came, Eisner cleared his throat with ease and started. Yesterday, after seeing the manager of the California Public Employees Retirement Fund jumping out to speak publicly, he cut off all external contacts. He knew that the possibility of a dramatic reversal of fantasy today by means of passionate speeches no longer exists.

He shut himself in the house, licked his wounds alone, concentrated on his thoughts, and had a good night's rest. Anyway, keep your face today and then...

In fact, what's the big deal about being passed a vote of no confidence? After all, the general meeting of shareholders cannot replace the board of directors, and the control of the board of directors is two things away from the real control of the company's management. He knows all the ways of senior managers.

No matter how difficult the situation is, there is always a way.

"I'm very happy to see that last year, the company's total financial revenue was 27 billion knives, and its net profit was 1.267 billion..."

He announced the good news first, "Our film business and espn sports channel continue to deliver record growth... Our record distribution business is the best performance of any company in its class."

"We also have a very healthy level of debt, and there is reason to believe that will be reflected in the share price soon..."

The bigwigs in the venue and watching the live broadcast all over the country listened quietly to his various hints that the market value of Disney is more than the current price. As for the focus of the power being too concentrated on him, he didn't mention a word, and he couldn't do anything about it. carry.

But after all, we have to face it. After one boring agenda after another, the voting on his re-election as chairman and CEO will begin.

"Mr. Chairman, before your re-election vote, I want to join you in remembering the late Mr. Frank Wells. When you and Frank came to Disney in 1984, I remember the media at that time. 'Fire Captain', because Disney's market value was less than two billion dollars at that time, and you did it. Now Disney has a market value of tens of billions and is a great integrated media company... On behalf of all shareholders, I would like to express my sincere gratitude to you and the late Frank Wells pays tribute."

An old white male representative flattered everyone when he came up, and even led the audience to applaud.

"thanks, thanks……"

Eisner squeezed out a sad smile, and seemed to be remembering his old partner Frank Wells who died in a plane crash, but he knew in his heart that things were not that simple. This representative was not arranged by himself, and he really wanted to help him , there is no need to mention someone who left ten years ago.

Sure enough, the old white male representative changed the subject, "But after Frank left us in 1994, all shareholders, I think at least most shareholders who have accompanied Disney all the way, can feel that you are becoming more and more arbitrary."

Eisner felt his restless heart begin to beat faster in his chest, and he turned his head to look at the subordinate who was in charge of ordering the questioning session.

"Remember when we used to call Frank 'good guy Frank', and I know some people inside Disney called Frank 'Eisner's brake', he was always right on time to correct your mistakes and appease the senior executives who were offended by you Or partners, after Frank unexpectedly left us, you drove Katzenberg away in ten years, and Katzenberg later co-founded DreamWorks and personally built DreamWorks animation department into a new Yes, a first-line animation film company that came from behind..."

"Please pay attention to the time for questioning." Jack reminded his subordinate.

"Okay, I'll finish right away. Then there's your friend Ovitz, I agree that Ovitz has hardly done a good job at Disney, but after his short Disney career, all shareholders are in for his severance package Paid hundreds of millions of dollars..."

"what do you want to say in the end!?"

His Majesty's real supporters began to clamor behind.

"What I want to say is: Mr. Chairman, we respect you, but we also believe that you must put a new bridle on your personal power at Disney. Disney needs a new set of 'brakes', such as COO Robert Iger Sir, we agree that his work style, personality and personality are very similar to Frank Wells... and the only one who has any hope of keeping Pixar animation at Disney."

"Yes! Yes!" Another group of people booed and echoed.

"That's why I promoted Robert to COO. I like him better than you."

Okay, I got it, Eisner calmly took over the conversation with a smile, "After Disney acquired the ABC Television Network, I became good friends with him, although the ABC Television Network has always been an unstable factor in our financial balance, But I agree that he has done a great job in every job given to Robert. Every leader of a multinational company needs to be carefully cultivated. I promise that I have given Robert everything I can over the years The help is the guide, and I believe if he's the brakes, when you put him in the right place, he's going to do what you want him to do, he's up to the task."

"This old fox!" one of Jobs' subordinates watching the live broadcast angrily cursed.

"It's useless, everything depends on the vote, and the vote has already been decided." Larry Ellison said.

"Vote after break."

Eisner announced a temporary break after a real 'Trust' helped out on the side drum.

Jobs took out his mobile phone and waited. Sure enough, Eisner called after a while, "Michael."

"Steve, if I don't choose Robert Iger as CEO, will you renew the contract?" Eisner said straight to the point.

"No." The final negotiation was over, and Jobs was decisive.

"Where can you go? Pixar and Disney are almost merged, the Toy Story series, the Finding Nemo series, all those sequel plans, the Cars projects in development, all of this..."

Eisner threatened: "MGM is on the verge of bankruptcy, and the other five major Hollywood companies have also established their own animation production and distribution systems over the years, Universal and DreamWorks, Fox Pictures and Blue Sky Studios..."

"You know what kind of man I am, Michael," interrupted Jobs, "if I'm afraid of taking risks..."

'Beep beep...' A blind tone came from the phone.

"George," Eisner called George Mitchell again, "I'll make you chairman, and you promise that you and Harvey will get Katzenberg's DreamWorks Animation from David Geffen and Spielberg. Department to bring back Disney?"

"I don't want to lie to you, but I promise I will try my best." George Mitchell replied.

"This answer seems unsatisfactory..."

"Wait a minute, Mr. Paulson wants to chat with you." George Mitchell handed the phone to Paulson beside him.

"Today's shareholders' meeting also has George's re-election as an independent director voting agenda, right?" Paulson asked directly without talking nonsense.

"Yes."

"Okay, I support him, I will show you our influence in Disney, you need George, not the other way around...Michael." Paulson hung up the phone after finishing speaking.

"It's good for Linton to take over as CEO. I don't have many friends in Disney, Mr. Eisner."

Song Ya also stated: "I don't want my business to be exposed under the guns of Jobs or Paulson, so... yes, if that happens, I will go. You know me, I have never been a pure interests of animals.”

"Linton." Before he went back, he called Linton and several cronies to his side, "Let our people do their best to prevent George Mitchell from being re-elected." He didn't explain to his men who showed disbelief: "Do it immediately." !"

"yes!"

Linton suppressed his joy and slipped away to make a phone call.

He knew that Linton would 100% pull Aplus to do this together, plus his own votes...

Robert Iger and Jobs side...maybe...at least they shouldn't go out of their way to support George Mitchell.

He needs an answer.

Returning to the rostrum with a heavy heart, he didn't notice that his image was much more fatigued than before going to rest. He turned his head from time to time and looked at the auditors who were nervously counting votes.

Although he was mentally prepared, seeing the auditor's increasingly gloomy face, his mood still fell down uncontrollably.

After the auditor got the final figures, he also turned his head and looked over.

The embarrassing embarrassment in the other party's eyes almost ignited his heart. He nodded and looked away. The crowded venue seemed to become more and more blurred. Drink mineral water on the table.

"With regard to the motion for the re-election of Mr. Michael Eisner as chairman and CEO, the total number of valid votes is... the number of votes in favor is... the number of votes against is... Since the proportion of negative votes is 68% of all valid votes, the motion... ...was not passed!"

"yes!"

The group of people who made trouble just now jumped up and applauded loudly, and most of the representatives in the venue also applauded. Some good people looked at the Disney emperor on the rostrum with complacent and provocative eyes.

"Ok, ok! Please be quiet!"

Amid applause and booing, Eisner, who had adjusted to the speed of light, raised his hands and pressed them down with a smile, "I have heard and seen your demands, and I guarantee that tomorrow's board meeting will give you a satisfactory result. .But now, please don't interfere with the normal order of the meeting..." Then he turned his head and told the staff, "Let's move on to the next agenda."

"About Mr. George Mitchell's motion to be re-elected as an independent director... The negative votes were 43% of all valid votes and did not reach half of the total. The motion was passed!"