Chapter 138 Sister-in-law is coming

After chatting with his widowed sister-in-law Haley for a while, Milo already knew what happened in his hometown.

Basically, Haley's idea of ​​going to Washington encountered some setbacks.

There are equally powerful people competing with her for related positions.

The strength of both sides is similar, and it is unclear who will win if they fight.

So they proposed that they give all the compensation to the Blackburn family and ask the Blackburn family to give in to them this time.

Politics is the art of compromise, and the Blackburn family did not refuse immediately.

The main reason is that they are still competing within D, and both sides are forces within the Donkey Party. There is no need to fight to the death over such matters.

Of course, this is just an excuse given to the outside world.

In fact, it was the opponent's compensation that made Blackburn somewhat tempted, and if a real fight broke out, it seemed that Blackburn would not be able to win at the moment.

Old Blackburn summoned all his confidants to hold a meeting at Blackburn Manor over the next few days.

After several meetings, the political elites of the Blackburn family felt that the conditions proposed by the other party were actually very good.

"…So, everyone finally decided that it would be better for me to go to the West Coast to help you."

Haley's slightly hoarse voice sounded softly in the microphone of the mobile phone.

Milo subconsciously kicked the grass under his feet and looked towards Ted Turner.

A bunch of old guys, still swinging their clubs, but also chatting.

The conversation was quite intense, probably they were bargaining.

"What do you think? Haley, I'm talking about your own feelings. Would you rather go to Washington more, or come here to help me more?"

After thinking for a while, Milo added softly, "Just follow your heart. If you want to go to Washington, Haley, I will help you. I think I should be able to do that now."

Even without considering the political strength of the Blackburn family, Milo felt that he was now a small oligarch.

If you want to help the president, governor, senator, etc. get elected, you may not have enough power.

But that's just the words of the chief judge of a circuit court in the federal judicial system in Washington.

Milo felt that he could still do it.

At worst, you can just use money to attack it.

If $100 million isn’t enough, then $200 million. If $200 million isn’t enough, then $300 million or $400 million!

There are so many lobbying firms on K Street in Washington, and these people can make money from everything.

Over there, after a long silence, Hailey's voice rang out:

"Grandfather and dad are right. As the only heir of Blackburn, you are the most important. But now you spend more time in New York and California. Instead of letting you stay in these two places and support politicians who may not agree with you, it is better for us to go there ourselves."

"Also, mom has always been worried about you. She is worried that you will be wronged by yourself outside. She also hopes that I will go over to take care of you. Of course, I actually know that if I go over, you will probably take care of me more."

"Okay. I see." Milo chuckled, still holding the phone, squinting upwards slightly.

The sun is very strong in San Francisco today, but it's not very pleasing to the eyes.

When it shines on people, they feel warm.

"Then come over. Just like grandpa said, Haley, dear Haley, I really need your help. I'm here and I need someone I can trust."

"OK."

Hailey said, "I'm going to be there next month, do you want me to be in Southern California or Northern California?"

Southern California is the area surrounding the greater Los Angeles area, while Northern California is the large area surrounding the San Francisco Bay Area.

Although California is developed, it actually developed around these two places.

Many other areas of California are still deserts and wastelands.

“San Francisco.”

Milo said, "After all, this is the political and financial center of California. I think this place is more suitable for you."

"Then San Francisco." Haley said.

"I will tell my grandfather about your decision now. We will discuss it next and make sure the other party's compensation is paid in California."

"Also, if I go to San Francisco, Brian might go to Los Angeles. Grandfather and father feel that Brian Ross should take on more responsibility."

Brian Ross, said to be a member of the Blackburn family's staff.

But he is actually a politician, and he has also served as a member of the Massachusetts Congress.

After failing to win the Boston market election, he stepped back into the spotlight.

Milo also knew that the arrangement at home was correct.

At least half of my business is now in California.

California is divided into two parts: media in Los Angeles and the Internet in San Francisco.

He can work with locals, like the Newsom and Pelosi families.

But unless he marries these people and settles down in California.

Otherwise, no matter how much they cooperate, he is still an outsider.

So if Brian Ross and Haley come over, they can indeed make up for his shortcomings in this area.

At least he doesn't have to negotiate directly with Newsom and Pelosi.

You can let Brian and Haley come forward and be his spokespersons in this regard.

"OK!" Milo laughed, "Then I'll wait for you here!"

"Um."

Haley hung up the phone first.

Milo put away his phone and slowly walked towards Ted Turner and the others.

From a distance, he smiled and said, "Hey, Ted, you made a great swing. You almost made a birdie!"

Ted Turner, who had hit a good shot, looked back and saw Milo coming over after finishing his phone call.

Ted Turner didn't know if it was an illusion or something, but he felt that Milo seemed to be in a good mood after he answered the phone.

Did he make a few hundred million dollars again?

Ted Turner knew this guy had a company on Wall Street.

It is said that billions of dollars were earned in just a few months.

The title of "Wall Street Genius" still hangs on this guy's head! "Have you finished the call? Fortunately, this is my normal performance." Ted Turner said happily.

In fact, the timing of Milo's call actually helped him a lot.

After Milo left, the shareholders of this TV station had the opportunity to communicate behind Milo's back.

Listening to the endless quarrels of several people behind me, I looked at the young man walking towards me from the distant slope.

Ted Turner knew very well that it was not easy to find a buyer willing to pay cash.

Yes, Time Warner is indeed interested in TBS.

But Ted Turner was well aware of the practice of giants like Time Warner swallowing up companies like his.

It is usually a part of cash plus stock exchange.

There is generally not a lot of cash if the valuation is $8 billion.

Time Warner estimates that it will take out no more than $1 billion in cash.

The remaining $7 billion are special shares issued by Time Warner specifically for the acquisition.

Although stocks can be sold for money, and although the US stock market is currently in a bull market.

But...the stocks of TV station companies are generally falling at the moment.

After the emergence of the Internet, the first industry to be impacted was the traditional media industry.

When it was first traded, the stock might have been worth $7 billion.

The merger may also cause the stock to rise by more than 5% in the short term.

However, these special stocks usually have a lock-up period of several months to half a year.

Only God knows whether the $7 billion worth of stocks will still be worth $7 billion six months later.

In comparison, cash is more reliable.

No one wants to take risks.

Ted Turner was unwilling to do so, so Milo also agreed to let him continue to manage Turner Broadcasting Group.

Ted Turner was willing to help Milo because he was also worried that he might be deprived of power if he went to Time Warner.

What's more, this young man has a very intimidating family.

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Fuck, no one wants to deal with that old fox.

Blackburn, a veteran politician who is ruthless and heartless!

The only family that can jump between the Elephant Party and the Donkey Party without any opposition from outside.

What’s even more terrible is that the guy in front of him is said to be Rockefeller’s son-in-law.

As a media tycoon who had already entered the upper class, Ted Turner knew this was true.

He also heard from certain channels that old Rockefeller was very satisfied with his grandson-in-law.

Old Rockefeller’s original words were: “This guy is more suitable for that era than anyone else. If he had appeared in that era, perhaps we would all work for him.”

"Okay, everyone, it's time to make up your mind. This young Blackburn will not buy shares in the TV station unless he gets a stake that exceeds Time Warner's."

"So, if any of you disagree, this deal will be scrapped. Are you really prepared to continue investing in the TV station? Or do you want to see your shares diluted?"

When everyone heard Ted Turner's cold tone, they looked at each other and one of them asked, "Ted, what's your decision?"

"Sell it to him! But not for 7 billion. At least 7.5 billion. With a market value of 7.5 billion, all of us can make money. We all know that Milo Blackburn is not a young and energetic kid. The fact that he can play with us at this age speaks volumes. It's impossible to get more out of him, but why not make money if we can."

Ted Turner made a very decisive decision. This group of greedy fence-sitters must be given a clear attitude, otherwise no one knows what they will do.

After Milo came back, everyone continued to play, as if the awkward atmosphere caused by the price issue had never occurred.

"Mr. Turner, if I acquire this 41%, who should I go to for the remaining 10%?"

Milo and Ted Turner stood side by side, watching the others swing their clubs, with smiles on their faces, and asked casually.

"Hearst Media owns 6.5%. This family will invest in any company related to the media."

“In addition, Cox Group of Atlanta, Georgia, owns 5%.”

"If you can handle these two families, then TBS and CNN will be yours forever, and no one can take them away from you."

When Ted Turner finished speaking, Milo remained silent.

He knew that the things in the hands of these two families were difficult to deal with.

The Hearst family is in the media business and is not short of money.

Even more outrageous is the Cox Group, which is a private company owned by the Cox family, the largest local boss in Georgia.

This family became wealthy in the last century and was one of the Eight Banners of the United States.

It is not as outrageous as the three flags in New England, but its strength is also ranked in the top 20 in the United States.

Perhaps seeing Milo's dilemma, Ted Turner said:

"Milo, 41% is enough to put you in a very good position. First of all, those Hearst shares are hard to buy. Cox shares may not even be sold. If you can't get them, I don't think Time Warner will be able to do that either."

Time Warner was actually only established in 1990. Before that, Time Inc. was Time Inc. and Warner Inc. was Warner Inc.

This is a media group controlled by oilmen behind the scenes.

Hearst might give it face.

But the Cox family probably won't pay any attention to it.

Unless you pay more.

The method of adding money is very practical everywhere.

Milo quickly figured this out as well.

He also knew that 41% of the shares could actually control TBS.

Many controllers of listed companies do not even hold as much as 41%.

For example, Li Huanggua of Hong Kong Cheung Kong Group, his family’s shares in Cheung Kong Group have long been maintained at around 35%.

It's just that Milo is quite conservative in this regard.

He always wanted to control 51% of the shares, or even delist and privatize...

And Milo calculated that it would be more economical for him to just get 41% for the time being.

Based on the bottom line of US$7.5 billion demanded by this group.

41% of the shares would cost less than $3.1 billion.

With $3.1 billion, Milo didn't even have to borrow junk bonds from the bank.

He only needs to mortgage these shares and he should be able to get a loan of around 2 billion US dollars.

The remaining billion dollars can be invested directly.

This way, there will be much less financial pressure during the acquisition.

As for the question of whether the control over the company is safe after it is acquired.

Haha, I don’t even need my own consultants to give me any advice.

Even Milo now can think of a bunch of ways to make other shareholders choose to sell their shares to him in the end.

Or just grit your teeth and hold on, watching him mess with TBS.

And now Time Warner should also have some shares.

Maybe around 15%-20%.

According to the character of the Oilers, once they find that the situation is unstoppable.

If you are willing to spend money, they should be willing to sell the stocks to you.

By then, his shares in TBS will also exceed 51%.

So the longer the night goes on, the more trouble there is, after these people reveal their final bottom line.

Milo agreed to their request for a valuation of $7.5 billion.

He remembered that in a parallel universe, Time Warner spent $7.8 billion to acquire TBS.

He is now spending $300 million less than Time Warner, although it must be all in cash.

But Milo was still very satisfied, so the two parties signed the agreement in the afternoon.

The agreement can be torn up, but the party that tears it up needs to pay liquidated damages.

The penalty for breach of contract was set very high, $200 million.

The teams of both parties will then have formal contact, and if fast, the contract can be formally confirmed within a week.

But it also basically announced that Turner Broadcasting Group officially fell into Milo's hands.

(End of this chapter)