Chapter 315: An Unexpected Situation

Chapter 315: Chapter 315: An Unexpected Situation

The finale music of the Victoria’s Secret Fashion Show boomed through the Staples Center. Britney and all the supermodels took their bows as golden confetti filled the air, the cheers and applause from the audience nearly lifting the roof off the building.

Irene stood up and joined the applause, looking at her friend surrounded by the crowd on stage. She was planning to meet up backstage later and head to the after-party hosted by the sponsors to relax for a while, but the phone in her pocket suddenly vibrated.

She walked to a quiet spot on the side of the audience seating to answer the call. Robert Smith’s steady voice carried a hint of urgency: "Irene, I’m waiting for you at the parking lot of the center’s west gate. There’s an emergency."

After hanging up, Irene had no choice but to call Britney.

"Ah, what bad timing. Alessandra Ambrosio and Adriana Lima were both looking forward to meeting you. In that case, it will have to be next time. Don’t work too hard," Britney complained slightly over the phone, but she still understood Irene’s work.

"You guys have fun. I’ve ordered a gift for you to celebrate the success of your first Victoria’s Secret Night performance. It will be delivered to your hotel in an hour. Remember to pick it up," Irene said with a doting smile.

Afterward, she walked quickly through the bustling crowd.

As she stepped out of the venue, the evening breeze blew, slightly dispelling the stifling heat from inside.

In the parking lot, Robert’s black sedan was waiting quietly. The window rolled down, and he handed over a document with a solemn expression: "There’s a problem with Future World Pictures."

Irene got into the car, her heart sinking.

Future World Pictures was one of the acquisition targets she and Robert had been preparing for a long time. This film company, founded in 1983, happened to be celebrating its twentieth anniversary this year, and its shareholders were all veteran Wall Street investors.

Back then, they saw the potential in the film industry and pooled their resources to establish the company, focusing on the distribution of low-to-mid-budget B-movies, particularly building a solid reputation in the video rental market.

In the eighties and nineties, they relied on the distribution of sequels for the A Nightmare on Elm Street and The Texas Chainsaw Massacre series, accumulating many stable customers in rental channels and even becoming a core partner for Walmart and Blockbuster for a time.

But the good times didn’t last. Entering the new century, with the emergence of streaming and DVDs gradually replacing videotapes, the company’s executive managers were stuck in their ways. They failed to seize the opportunity for channel transformation and made a series of mistakes in project selection.

They invested in several action and horror films that flopped at the box office, leading to continuous losses in their financial reports for the past three years. The Wall Street shareholders’ focus wasn’t even on this industry to begin with, and the consecutive losses made them lose patience. Six months ago, they finally relented and agreed to sell all the company’s equity, and negotiations with Echo Pictures had been progressing smoothly.

"Their largest shareholder, Webster Clive, even finalized a preliminary quote with us last week. Why the sudden change of heart?" Irene flipped through the documents, her brow furrowed.

"MGM swooped in halfway," Robert sighed, starting the car and driving out of the parking lot.

"Although MGM is deep in a financial crisis, they desperately need a company with mature distribution channels to revitalize their business. You know Die Another Day didn’t meet box office expectations. While it didn’t lose a fortune, the shareholders are already complaining. The IP value of the 007 series is declining, and they must find new profit growth points as soon as possible."

"MGM can barely save itself right now, and they still have the mind to poach from us?" Irene found it somewhat hard to believe.

She was well aware of MGM’s predicament: burdened with debt, with few high-quality IPs under its belt, and having produced almost no hits in recent years. How could they suddenly have the confidence to compete for Future World?

"It’s hard to say if they’re intentionally causing trouble, but Webster has clearly stated that he will consider offers from both parties simultaneously," Robert said in a serious tone.

"Although Future World’s distribution credentials aren’t top-tier, their rental channels in North America’s lower-tier markets and their relationships with independent cinemas are exactly what MGM desperately needs.

Previously, they had no interest in the B-movie market, so I don’t know if someone specifically pointed it out to them or if there’s another reason. For us, acquiring it would allow Echo Pictures to completely close the ’production-distribution’ loop, no longer needing to rely on the distribution networks of Warner Bros. or Fox. This is crucial for the global distribution of our future films."

Irene’s fingertips gently tapped her knee, her mind racing.

Although the executive level of Future World was incompetent, its core assets—the distribution channels accumulated over twenty years, the copyrights to over a hundred B-movies in its library, and the partnership resources with independent producers—were exactly what Echo Pictures needed most at this stage.

Once intercepted by MGM, not only would all their efforts during this period go to waste, but the development of subsequent projects would also be delayed.

"Arrange a meeting for me with Webster Clive tomorrow." Irene looked up, her eyes determined. "I want to hear his thoughts for myself."

"It’s already arranged. Tomorrow at three in the afternoon, in the top-floor conference room of the Beverly Hills Hotel," Robert nodded. "Webster specifically emphasized that he hopes we can provide a more sincere proposal."

"Before that, ask your old friends at MGM to see what their actual intentions are. Even though MGM has been on a downward slope these years, it’s still not something a small company like ours can compare to. We should try to avoid a head-to-head collision if possible," Irene suggested.

Robert nodded with a smile. "Understood. In fact, many of my colleagues have left MGM over the past two years. This news was leaked to me by an old friend who is still at the company. They are quite disappointed with MGM."

"Facing off against your former employer, do you have confidence?" Irene’s words were full of teasing and banter, not truly questioning Robert’s intent.

Robert clearly understood Irene’s joke, rubbed his nose, and said quite confidently, "I will do my best."

The next afternoon, the elevator at the Beverly Hills Hotel slowly rose to the top floor.

Irene was dressed in a sleek white business suit and skirt. As she stepped out of the elevator in her high heels, Webster Clive was already waiting at the conference room door.

This Wall Street investor was nearly sixty years old. His hair was combed meticulously, he wore a tailored suit, and the Patek Philippe watch on his wrist was low-key yet luxurious. His eyes were as sharp as an eagle’s, revealing the shrewdness of someone who had dealt with capital for many years.

"Miss Irene Coppola, I’ve heard so much about you." Webster took the initiative to reach out, his smile formulaic yet polite. "The producer of an Oscar Best Picture, truly young and promising."

"Mr. Clive, it’s a pleasure to meet you." Irene shook his hand, her tone composed. "Future World Pictures is the result of twenty years of hard work by you and the other shareholders. I have always admired the foresight you had in the film industry back then."

Entering the conference room, the view outside the floor-to-ceiling windows was a panorama of Beverly Hills, with lush greenery and scattered luxury mansions.