I am Hollywood

[Chapter 1187: Twisted Hands]

With the explosive rise in Comcast's stock prices, Firefly Group decisively halted its buying operations, ultimately reaching a 7.1% stake in the company. Since Comcast was already a widely held public company with a very dispersed ownership structure -- no single shareholder held more than 10% -- Firefly Group's 7.1% stake made it the largest shareholder of Comcast.

The whole process seemed effortless, but in reality, Firefly Group had invested over $2.5 billion in just over a month for that 7.1% stake. Amidst a cooling North American economy due to the Nasdaq market crash, many corporate giants were trimming their operations and conserving funds. Very few companies had the means to easily dedicate billions in cash for acquisitions like Firefly Group.

Now that the merger drama had begun, Firefly Group no longer hid its intentions. Although they ceased buying more shares, Jeffrey Katzenberg quickly requested a seat on Comcast's board of directors.

The Roberts family realized that agreeing to Katzenberg's request would mean that the operations of the company would no longer have any secrets from Firefly Group. Furthermore, the strong influence of the Firefly system could lead Comcast's shareholders to gradually align with Firefly executives once they joined the board.

Therefore, Comcast chairman Ralph Roberts immediately rejected Katzenberg's request, citing that board members were not due for reelection. Typically, a public company would address changes to its board during the annual shareholders' meeting each year. Though Firefly Group's stake wasn't enough to initiate a special shareholders' meeting, Comcast held its annual meeting every January. Unless Ralph Roberts dared to defy the will of Comcast's shareholders and cancel the annual meeting, it would only be delayed by a maximum of three months, so Firefly Group didn't appear overly anxious.

At the same time, as both sides played their cards, Firefly Group began engaging with AT&T, signaling its intent to acquire AT&T's boradband operations to create an illusion of shifting gears should Comcast not pan out.

AT&T naturally aimed to sell its assets at a good price and responded positively. Thus, back and forth, time unknowingly moved into November.

...

Despite the apparent flurry of activity, Eric had ultimately given up on securing Comcast or AT&T Broadband in the short term. The posturing against Comcast and talks with AT&T were merely to stymie negotiations with both companies. The capital winter in the new tech sector was just beginning, and the impending decline of the internet industry would also affect the foundational operators. Delaying time would only benefit Firefly Group.

Influenced by Eric's thought process, Firefly Group's upper management shifted their focus toward acquisition negotiations with Hasbro, successfully reaching a final agreement in early November. After negotiations, Firefly Group acquired Hasbro Toys for $2.86 billion. Hasbro's founding family heir, Alan Hassenfeld, would continue in his role as CEO, while Firefly Group would integrate it with its in-house toy division over the next few months.

...

On November 1, Eric flew with Katzenberg and several other executives to Providence, Rhode Island. Rhode Island was a very small coastal state situated between Massachusetts and Connecticut, spanning just over 3,000 square kilometers, separated from Long Island by a bay of about twenty to thirty kilometers.

After signing ceremonies at Hasbro's headquarters, touring the toy design department, and visiting a toy factory in the suburbs of Providence, Katzenberg stayed behind to discuss integration matters with Hasbro's top brass, while Eric took a helicopter from Long Island Airport directly to Martha's Vineyard.

At the same time, New Line Cinema's Final Destination 3 and Universal Pictures' The Bone Collector premiered in line with Halloween, marking the arrival of the year-end box office season.

With less than three weeks until Gravity's release, a film symbolizing Firefly Group's ambition to usher in a new era of cinema was intensifying its promotional campaign. Television teasers, theater posters, and online marketing bombarded audiences at an unprecedented rate.

The global premiere of the film was scheduled for November 12 at an IMAX theater in Santa Monica, Los Angeles. Following several internal screenings, the Firefly Group had absolute confidence in Gravity's quality. The distribution department planned small-scale preview screenings on the weekend of November 6, 7, and November 13, 14 to build word-of-mouth before the film's release.

Even with everything progressing rapidly, the promotional campaign for Gravity centered heavily on stars Jodie Foster and George Clooney, emphasizing the new 3D and IMAX viewing experience. Aside from the global premiere on November 12, Eric didn't schedule any additional media appearances for himself.

...

After a brief stay in Martha's Vineyard and East Hampton, Eric headed to Manhattan. Previously, he had purchased the IMG and Elite modeling agencies under a private name and had completed initial adjustments. However, some matters required his direct communication with the heads of both agencies.

The situation at IMG was manageable, as it had established a robust business operation system. Although Mark McCormack had stepped down as chairman post-acquisition, CEO Payn Forstmann was highly capable and could propel IMG further.

Additionally, Cindy and Linda, who had co-invested $300 million in IMG for a 20% stake, had joined IMG's board of directors. They were quite cautious about not intervening in IMG's management per Eric's advice, but having them overseeing things significantly deterred the management from any misconduct.

However, problems lay with Elite. Before the acquisition, Eric had suggested that founder John Casablancas retain some equity, yet during the transaction, Casablancas chose to cash out his sub-5% stake. Thus, Eric became the full owner of the company, with Casablancas only serving as a professional manager without any ownership responsibility.

The serious issues within this largest modeling agency, following the BBC documentary incident, were hard to overlook. After taking on Elite, Eric promptly dissolved the existing board, which effectively removed any oversight of Casablancas. Except for Eric as the owner, Casablancas no longer had to answer to anyone.

Of course, Eric knew better than to make blatant management errors. Due to a series of changes prompted by the BBC documentary's fallout, several important positions, including the President of Elite Europe, remained unfilled. Although immediately post-acquisition, Casablancas provided Eric with potential candidates, Eric decided not to take him up on it and instead opted for recommendations from Cindy and Linda, who offered other executives from the fashion industry to fill those gaps. After years of navigating the industry, they were just as savvy as Casablancas and recommended far more reliable candidates.

Moreover, Eric dispatched personnel from Firefly Group to manage Elite's finance department and began a thorough audit of the company's financial status.

In this month alone, Eric had substantially cemented his control over Elite through various personnel adjustments. Unsurprisingly, these power-stripping measures led to rising dissatisfaction from Casablancas.

During this period, Eric had received several complaints from Casablancas about financial audits affecting the company's operations, subtly hinting that Eric wasn't keeping his promise to leave Elite in Casablancas's hands.

...

In Manhattan, at the Lexington Avenue Armory, Casablancas entered the hall of the armory guided by Eric's security, where rehearsal work for the upcoming Victoria's Secret Fashion Show was underway.

The hall was dim, illuminated only near the runway; Eric lounged in a corner, casually observing the rehearsal while occasionally exchanging a few words with Edward Razek. This year marked the sixth installment of the fashion show, whose timing just shy of the new millennium imbued it with special significance, as LTD would officially unveil its first extravagant Dream BRA at the event.

While in Long Island, Emily had called to invite him to check on the show's preparations personally and provide input.

Over the years, the Victoria's Secret Show had refined its operational processes, and Eric actually didn't feel there were any areas to interfere. Thus, he simply slipped in quietly to observe for a while. At the Armory, aside from the show's director and accompanying LTD Group Vice President Edward Razek, no one else knew of his presence.

With Eric's lack of involvement, the Victoria's Secret production team naturally wouldn't gather every supermodel for rehearsals, instead opting for thematic segments.

Today's themed rehearsal focused on Dream Wings, inspired primarily by butterflies and similar insects, making it a theme rich in wings.

The opening was performed by Qusie Gauff, one of the new five Victoria's Secret representatives. With her youthful, doll-like features, Qusie Gauff was also the face of the VS Pink brand. The other four representatives included seasoned models Tyra Banks and Diane Kruger, along with recent sensations Gisele Bundchen and Carmen Kass. While Alessandra Ambrosio had just turned eighteen, Eric wasn't rushing to push her into the spotlight.

Casablancas approached Eric, greeting both him and Edward Razek before sitting down beside Eric. The girls on the runway practiced their routines to music, and without Eric breaking the silence, Casablancas waited in quiet anticipation. Despite expressing complaints over the phone to this young man, sitting next to Eric now, he couldn't help but feel an innate sense of pressure.

This past year, Casablancas had also ventured into technology stock investments, feeling relatively fortunate to sell most of his shares before the market crashed. Following the Nasdaq collapse, while he was mostly trapped with tech stocks, Casablancas didn't suffer the immense losses many others faced; rather, he had managed to come out ahead.

Because of his attention on the tech stocks, Casablancas could easily perceive the potent influence Firefly Group wielded over the new tech and media fields. As the leader of this economic empire, Eric, despite being over twenty years younger, possessed vast power and wealth beyond anything Casablancas could ever hope to reach.

When the models completed a round of walking, the music faded, and Eric said to Razek, "The sixth girl who walks out, the one with transparent wings. Have her come over. I want to chat with John for a bit."

Razek nodded respectfully while acknowledging Casablancas and got up to leave.

Casablancas instinctively recalled the girl Eric mentioned. He couldn't remember the order of the models but figured the one with transparent wings likely had a stunning, flawless face and a slightly aloof aura, exuding an alluring gaze typical of a Victoria's Secret Angel with an impeccable figure.

Although Casablancas knew everything about each supermodel under Elite, he didn't recognize this girl as she likely belonged to another agency.

Despite looking a bit stiff on the runway, his keen, seasoned eye discerned her potential instantly, clearly another promising supermodel in the making. Perhaps she had just begun to emerge in the industry, and he was simply unaware.

With this thought, Casablancas found himself feeling a sense of envy. Only someone like Eric Williams could casually express desires for those beautiful creatures, implying, "I want her."

Although the head of Elite, Casablancas had little sway over the supermodels under his agency; sometimes it felt like he was catering to them like a servant to a princess.

Once Edward Razek left, Eric didn't explain his previous instruction; he suddenly felt motivated to revive the once 'Twisted Hands.'

...

Glancing at the shifting expression of Casablancas beside him, Eric took the lead in the conversation, "So, John, how have you been lately?"

Casablancas instinctively turned slightly towards Eric and replied, "Not bad, just busier than usual."

Though Eric hadn't inserted himself directly into Elite's management, the executives he appointed had displayed a rather aggressive attitude from the get-go. To avoid further diminishing his own power, a somewhat complacent Casablancas found himself needing to re-engage.

"If you feel overwhelmed, I can help you find someone," Eric said with a smile, "How about we make you the CEO of Elite and bring in a president to support you?"

Casablancas felt a familiar pang of protest in his heart; after just subtle complaints, Eric was once again looking to strip away his authority.

He quickly shook his head, "No, Eric, I think I can handle it."

"Actually, I understand what you've been trying to express during our calls," Eric dropped his smile, his expression turning serious, "But you also need to recognize, John, I'm now the owner of Elite. I respect the accomplishments you've made in the modeling agency, but that doesn't mean I'll leave Elite unchecked."

*****

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