Century City, Relativity Building.

"At the first board meeting after Disney's shareholder meeting, quarrels were the only theme. ”

Robert Iger told Ronan about what he had learned: "I didn't expect Disney's kindest Dick Cook to fall to Ryan Kavanaugh and David Ellison. ”

Ronan was also a little surprised, saying: "Ryan Kavanaugh and David Ellison are charismatic. ”

Having said that, when wealth accumulates to a certain stage, people will always exude all kinds of incredible charms.

Robert Iger said: "Dick Cook's shift in stance has given Michael Eisner a strong opposition within the boardroom. ”

Ronan said directly: "Let's go to war to their heart's content, I hope this war will last a few more years." He then said, "Is there a deal on Wall Street?"

Wall Street is shorting Disney, but the considerable initiative is in the hands of Relativity Entertainment, and the horn of attack can only be sounded by Relativity Entertainment.

The two sides are united because of their interests, and although Ronan is not involved, he also wants to fight for the greatest possible benefit for Relativity Entertainment.

Robert Iger said: "It's settled. They have gained a lot this time, and our conditions are far from touching the bottom line, so the conversation is relatively easy. ”

"These companies, led by Goldman Sachs and Credit Suisse, are providing a one-time investment of a total of $1 billion to the Pacific Investment Fund at a fixed annual rate of return of four percent for a period of four years," he added. ”

"The average family is less than $150 million, which is not bad," Ronan said. ”

"Such a yield is too low in the eyes of Wall Street. "They'd rather play a Ponzi scheme than a robust fixed income," said Robert Iger. ”

He added: "With this funding, after completing the acquisition of Pixar Studios, Relativity Entertainment can still maintain a very healthy financial chain. ”

Ronan nodded and asked, "When are we going to announce it?"

"Tomorrow. Robert Iger said: "They're ready. ”

A few days before Christmas in 2005, Robert Iger, CEO of Relativity Entertainment, announced through Netflix's officially verified Netflix sharing account that Relativity Entertainment had completely suspended cooperation negotiations with The Walt Disney Company due to huge irreconcilable differences in negotiations.

A team that Relativity Entertainment visits Disney headquarters in Burbank every day to negotiate with, has also withdrawn from the Relativity Building.

A day later, Steve Jobs also announced through the Netflix sharing account that Pixar Studios unilaterally terminated the acquisition negotiations with Walt Disney because they could not agree on the production concept, and Pixar Studios will end all cooperation with Walt Disney after the release contract expires on December 31.

Not only through Netflix sharing, Steve Jobs also stood up for an interview with the media, claiming that he could no longer stand Michael Eisner, an arbitrary megalomaniac.

After years of being squeezed by Walt Disney, Pixar Studios and Steve Jobs finally took a bad breath.

The love-hate entanglement between Pixar Studios and Walt Disney for more than a decade has also come to an end.

After the loss of Pixar Studios, the production team of Disney Animation Studios, led by Chris Buck and Byrne Howard, officially handed in their resignation to Disney and announced their departure.

Michael Eisner has not been waiting to see Disney Animation Studios all these years, coupled with the internal power struggle and turmoil after the shareholders' meeting, after the liquidated damages are paid, there is no intention of retaining the animation production team led by Chris Barker and Byrne Howard.

Although Disney Animation Studios has more than one animation production team, it has lost the most Disney heritage production power.

With Pixar Studios ending its partnership with Disney for good, and Chris Buck and Byrne Howard's teams leaving to join Shahai Entertainment, reviving Disney animation will become a distant prospect.

No one at the top of Walt Disney has paid attention to these for the time being, and as Disney's stock price has fluctuated violently, it has caused a series of problems.

These Ronan are no longer concerned, and whoever can control Disney in the end will face a huge mess.

After Christmas, Ronan paid due attention to the Oscar rush for Ang Lee and "Brokeback Mountain".

On the list of Golden Globe nominees that have been announced, "Brokeback Mountain" has been nominated for seven awards, including Best Director and Best Drama Film.

At the same time, the film also received key nominations in the most critical weather vane awards.

Ang Lee was nominated for Best Film Director at the Directors Guild Awards, and "Brokeback Mountain" was nominated for Best Film at the Producers Union Awards, among others.

The directors' guild's selection of the best director of the year has always been one of the best bellwether of the Oscars, and in the nearly 70-year history, only six directors' guild award winners have failed to win the Oscar.

On December 31, the Academy of Motion Picture Arts and Sciences began distributing ballots to nearly 6,000 judges around the world, and the Oscar rush entered the sprint stage.

Also on this day, the distribution contract signed by Pixar Studios with Walt Disney officially expired.

On the first day of the new year, Ronan welcomed the top floors of Pixar Studios such as Steve Jobs, Edel Kamle, John Lasseter, and Andrew Stanton at the Relativity Tower.

Witnessed by all sides, Ronan signed a formal acquisition agreement with Steve Jobs, representing Pixar Studios, on behalf of Relativity Entertainment.

Relativity Entertainment acquired Pixar Studios in cash and equity exchanges, and Pixar Studios became a wholly-owned subsidiary of Relativity Entertainment.

In the press room, when Ronan shook hands with Steve Jobs, the media reporters who had been waiting in the audience pressed the camera shutter to record the moment.

The executives of Relativity Entertainment and Pixar Studios applauded, and Robert Lee and John Lasseter, who had initially represented Relativity Entertainment and Pixar Studios, hugged vigorously.

Both parties are very happy with the deal.

Relativity Entertainment has become Hollywood's premier producer of animated content and the world's best provider of animation technology.

Pixar Studios has a stable marketing channel and a sufficient source of funding.

Jobs pulled Ronan to stand in front of the media reporters to take pictures, with a rare bright smile on his face.

Considering Jobs' recent physical condition, there was no interview session scheduled for the signing ceremony, and Ronan accompanied him back to the back break room, throwing the job of dealing with media reporters to Robert Iger and Edel Kamel.

Back in the lounge, sitting on a spacious single couch, Steve Jobs said, "Ronan, I didn't expect our day to become true partners so soon. ”

Ronan replied casually, "We have always been close partners. ”

Jobs said these things for another purpose, saying, "I'll help you get into Apple's board of directors, and I hope you'll support me." ”

Ronan said solemnly: "As long as you are still sitting in the position of Apple manager, I will be your strongest partner." ”

In terms of experience, supporting Steve Jobs is perfectly in line with his interest in investing in Apple.

Jobs said rarely, "Thank you." ”

Ronan nodded slightly: "You're welcome." ”

In fact, there was no shortage of opponents within Apple, especially the smartphone project, which was strongly resisted by factions in the personal computer business.

There are contradictions within large companies, and if you want to develop normally, you must suppress the contradictions to a certain range, otherwise Walt Disney will be the sign of the previous car.

Ronan asked, "When will Apple's first-generation smartphones be available?"

Jobs thought for a moment and said, "Strive for this year, but the test is not yet complete, and it is not certain now." ”

Ronan said directly: "Steve, try out the prototype, remember to give me one." ”

Jobs said, "Yes. ”

The conversation between the two never mentioned Pixar Studios again, and with the deal reached, Steve Jobs no longer has a stake in Pixar Studios, which is already owned by Relativity Entertainment.

Ronan didn't talk to Jobs for long when Laurenna Jobs came in and reminded Jobs that it was time to go back and rest.

Since the last time Jobs was in a coma in India, his physical condition has not been very ideal, but fortunately, he stayed in North America and did not go to India to receive super treatment from his third brother.

Sending Steve Jobs away, Ronan breathed a sigh of relief, Pixar Studios is in hand, not only the industry's No. 1 animation studio and all its works copyright from now on to Relativity Entertainment, but also the vital animation production technology.

Most of Hollywood's computer animation production today uses equipment and technology developed by Pixar Studios.

Of course, this deal is also a good bid for Relativity Entertainment.

Relativity Entertainment acquired Pixar Studios for a total of $6.3 billion, with a deal completed by both cash payments and stock swaps.

Among them, in terms of cash, the Pacific Investment Fund and Bank of America provided $1.5 billion and $800 million respectively for Relativity Entertainment in the form of investments and loans, and Relativity Entertainment used $1.7 billion in cash reserves accumulated over the years, totaling $4 billion.

The remaining $2.3 billion, under the condition that Steve Jobs insists on not backing down, Relativity Entertainment can only exchange the equity of Netflix Networks according to Jobs's request.

Steve Jobs got a 4.1 percent stake in Netflix Networks, making him the third-largest shareholder after Ronan and Goldman Sachs.

However, Ronan's equity in Netflix through Relativity Entertainment is still as high as 73%, and he is still the absolute controlling party of Netflix Network.

Transactions like this to acquire high-quality companies inevitably require the use of premium acquisitions, and Relativity Entertainment is no exception.

With Pixar Studios officially belonging to Relativity Entertainment, the animation production team led by Chris Barker has also joined Shahai Entertainment and established an independent animation production department, Princess Animation Studio.

At this point, Ronan and Robert Iger's plan and Disney project, which had been in operation for several years, were all completed.

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