The NBA's annual draft has captured the attention of hundreds of millions of people around the world. At the same time, in the face of such a grand event, a variety of different voices and different performances have won people's attention. The situation of the players to be selected, the goals of the teams, some tidbits off the field, everything seems like the whole world is revolving around it.

This is a high-profile business. It's all about business.

In addition to the original motivation, what other honors have been brought to people by the development of competitive sports to this day?

Well, that's where they succeed. Transactions, salaries, conflicts, confrontations, in fact, all revolve around business. The NBA league has been operating commercially for so many years, and the main reason for its success.

"All essence is transaction, all relationship is business"

From an economic point of view, this sentence makes quite sense, and it is very classic.

The essence of everything is that man and the outside world are a process of exchanging what he has for what he has.

Even if the reproduction of human beings, the old and the young, and the young come to support the elderly.

Marriage, although love is beautiful, but the integration of two people is still in it with the inner essence of each taking what he needs.

Not to mention the process of interpersonal interaction, from the background point of view, it is actually a potential exchange with a purpose.

So, isn't this kind of exchange a kind of business, but sometimes it is not a money transaction, but various forms of "business".

Profit is business, and maximizing benefits is the first attribute of capital.

Arthur tried, and after the novelty wore off, he didn't continue to participate in boring joint tryouts, and his time was not so worthless!

After the successful acquisition of the New Jersey Nets, the actual controller of AMC, five holding fund companies, once again invited Arthur to restart negotiations on the acquisition of AMC Theaters.

As Arthur had thought before, one monk carried water to eat, and five monks had no water to eat. In the case of the IPO in the distant future, there are already people who have no patience to continue to persevere, especially in the face of the repeated reports of the management of AMC Cinemas and the request for capital injection.

In fact, the operating costs of AMC Cinemas have remained high, and according to the explanation of the losses disclosed by AMC Cinemas, the rent, ticket price and interest factors of the cinema chain have caused the company to face difficulties in profitability. It is precisely because of poor profitability but high operating costs and huge debt factors that it has not been favored by the market, and the progress of listing has been stuck.

In the face of such internal and external troubles, the five institutions got together to discuss, unless everyone worked together to inject money to alleviate AMC's operational difficulties and make the balance sheet look better, otherwise they could only restart the negotiations, hoping to throw this black pot to the British, who are not short of money, and make a lot of money.

For this period of time, Arthur's lavish spending in New York, they are looking at it, and they are really anxious in their hearts, worried that Arthur is so money-throwing and has no money to buy AMC, then it will really be a mess.

“。。。 $700 million, as well as taking on all debts. ”

In Arthur's mansion study, AMC's CEO Gary Lopez handed a document in his hand to Arthur who was sitting in the boss's chair, and the head of the negotiation team on the side also said: "This price is almost their psychological bottom line, and we have also lowered the price again, but they directly refused." ”

Taking the folder, Arthur smiled and asked Gary Lopez, the CEO who had defected to him and became his person, "What do you think?"

"This price is actually acceptable, and in terms of theater operations, it is actually very cheap to acquire AMC, which operates 346 theaters in major cities in North America, with 5,034 movie screens, including 2,336 3D screens and 128 I screens.

Present in 24 of the nation's top 25 markets and home to seven of the top 10 highest-grossing theaters in the United States. In particular, AMC ranks first or second in the market share of the top 10 U.S. markets in the United States, such as New York, Los Angeles, and Chicago.

In fact, on a per-screen basis, it's actually quite affordable, well below the average of the other two big publicly traded theater chains, Cinemark's $711,000 per screen and Regal's $595,000 per screen. Moreover, most of them are in the center of the North American urban circle, which is a good choice for the expansion of the North American market and capital internationalization.

Of course, the key is debt, which is really stressful... "Gary Lopez naturally hopes that the new boss will be able to join AMC so that they can escape the fate of being constantly sucked and become a puppet, so he wants to give the new boss more confidence.

"However, Mr. Boleyn, I can assure you that after the completion of the acquisition, if you can make a sustained capital investment, this money is not much, $300 million is enough, we can improve the debt structure of AMC. In addition, we have implemented a new and efficient management incentive system and strongly supported management to carry out a series of business innovations centered on enhancing the customer experience.

I can assure you that in one year, we only need one year to turn losses into profits, let AMC make money, and pay off all debts in ten years!"

"Ten years ... Arthur narrowed his eyes slightly, muttered softly, and fell into deep thought.

To be honest, this price is really not expensive, the key is the debt hole, which is too deep, and it is difficult to turn over in a short time, even if it is to promote the listing of AMC.

Just relying on annual profits to repay debts is really a drop in the bucket, don't look at the scale of AMC is so large, if it can make a profit of 100 million US dollars a year, it will burn high incense!

This is mainly because of the unique cinema system in the United States, which makes the cinema industry not very profitable, and only by constantly developing new technologies can it generate income for enterprises. Only every film technology innovation will usher in a leap in income, such as IMAX, 3D applications have given hope to the cinema industry for a short time, but enterprises will quickly encounter operational bottlenecks, or even losses.

As a result, the road to revenue generation is too long for AMC to even be overlooked, while the U.S. is a fully saturated, highly competitive, slow-to-no-growth market with low average profit margins.

The only advantage at the moment is that the new 3D revolution triggered by "Avatar" has just begun, and in the next few years, it can make a lot of money.

However, in the long run, there is little room for AMC to grow in the future, with little prospect of institutional expansion and only a handful of acquisition opportunities that can generate interest. Perhaps after the acquisition is completed, it may be a good option to sell it at the right price.

Thinking of this, Arthur was really moved, but he knew that it wouldn't be long before the tyrants of the Celestial Empire would start buying the whole world, and besides, the billionaire man of the Celestial Empire was ambitious in the theater market.

If you buy AMC by yourself, merge and integrate with European theaters, and sell it in a package... It is believed that it is definitely possible to sell a considerable figure.

He was not worried at all that the tyrants of the Celestial Empire had no money, and he was well aware of the crazy ambitions of the overseas expansion of the Celestial Empire's enterprises in the next few years.

With the drive of a number of large enterprises, the boom of overseas expansion of Celestial Empire enterprises is gradually heating up, especially the bid is too generous.

As for whether it is highly leveraged, no one cares about these companies, because they are betting that the bought overseas companies can quickly generate enough cash flow, otherwise they will face more severe debt burdens.

Of course, this is also strongly supported by many financial organizations. During this period, there was no lack of support from ZC, and these commercial banks were also willing to provide a lot of foreign currency loans for these mergers and acquisitions, which also had the commercial purpose of expanding outward with the help of the Celestial Empire Company.

This is reminiscent of the 80s, when the footbasin company held up the cheque book and expanded overseas. In 1985, after the "Plaza Accord" the yen increased sharply, overseas acquisitions of footbasin companies seemed very "affordable", the most famous of which was Mitsubishi Properties' $1.4 billion acquisition of 80% of the shares of the landmark Rockefeller Base in New York City, which was regarded as the main symbol of the frenzy of overseas investment in footbasins.

The investment frenzy of the footbasin companies gradually ebbed after the collapse of the bubble economy in the 90s, and many of the investments were later proven to be blind. Increasingly, while many foot basin companies have become geographically globalized in the process of overseas acquisitions, they are still culturally alien to Western society.

As for whether the Celestial Empire Company will repeat the mistakes of the Footbasin Company, no one can say clearly now. But then again, once the economy and the company have grown to a certain extent, it is the natural need for "extensional" expansion to deal with many internal problems

Thinking of this, Arthur's eyes lit up suddenly, and he made a decision, reached out and patted the negotiation minutes on the desk and said, "That's it, tell them that AMC I bought it!"