At Marvel Comics headquarters in Manhattan, New York, Avi Allad is on the phone with Arthur Malcolm, who is far away in Los Angeles.

Since becoming the chairman and CEO of Marvel Comics, Avi Aradd's hairline has receded every quarter and every month since last year, with less and less hair on his head and an almost completely bald forehead.

Avi Arad hung up the phone, looked at Marvel Comics' financial statements for the first quarter of 2004, and was very sure of one thing, if Marvel continued like this, it was estimated that he would become bald in two years at most.

The financial statements are nothing, losses, losses as always, although the amount of losses is not high, not even tens of millions of dollars in a single quarter, but Marvel Comics can't afford to lose.

With the current situation of Marvel Comics, the loss of tens of millions of dollars in a single quarter was directly dispersed.

Avi Arad put down his financial statements and began to consider continuing to lay off employees, and the comic book creation department is now mainly an external creative model, which does not require so many employees, leaving only a dozen people enough.

In terms of external creation, except for "Spider-Man" and "X-Men", which have a joint effect because of the movie, the sales of other comics are so bad that they can't bear to watch it.

You can cut most of the comics created on an external contract, and you can't sell them anyway.

Correspondingly, the distribution department does not need so many people.

There is also the copyright department, Marvel Comics has thousands of comic book characters, and they can't even get a copyright mortgage and adapt the copyright sale, except for a few elites, what's the use of others keeping?

Avi Arad has long agreed with the board that Marvel Comics layoffs are inevitable.

Marvel Comics must lose weight in order to last longer, and only by surviving the cold winter of the comic industry can it be possible to get a new life.

Avi Arad sent two emails to the HR director, asking the HR department to determine the scope of the layoffs and push for the layoffs as soon as possible.

I can't afford to delay.

Avi-Arad had many hopes, but in the end they all turned into disappointments, and there were so many disappointments that there was no other way to go, and he wanted to cling to every little hope.

He is now very hopeful that Arthur Malcolm's side can get a good result.

It would be better for Twentieth Century Fox to pay the bill early, and make up a large amount of money for the "Fantastic Four" rights deal that year.

In that case, coupled with the share of the copyright of the upcoming "Spider-Man 2", Marvel Comics can at least get through this year.

As for Citibank's loans, which are due next year, we can only talk about them next year.

People are poor and short-sighted, and the same is true for companies.

What Marvel Comics thinks about the most today is the most basic survival problem.

A soft knock on the door interrupted the train of thought, and Avi-Arad said with some unhappiness, "Come in." ”

The female secretary in the fitting skirt pushed the door in and said, "Chairman, Mr. Fiernst from Citibank is here and wants to see you." ”

This is the lender, and Avi-Arad didn't want to see him and waved his hand: "Let him go to the finance department." ”

The female secretary reminded as gently as she could: "He said it was about the loan and had to talk to you." ”

Marvel Comics had been trying to mortgage some of the remaining comic book character rights to Citibank in order to raise more money, and Avi Arad thought there was progress in this matter and said, "Let him come over." ”

As soon as Fiernst, who was wearing gold-rimmed glasses, entered the office, Avi Arad warmly shook hands and said, "How come Mr. Fiernst has time to come over today?"

At the warm invitation of Avi Arad, Fiernst sat on the sofa in his office and said with a serious face: "Regarding the loan business of Citibank and Marvel Comics, there are some things that I, as the direct person in charge, must explain to Mr. Arad. ”

Seeing Fiernst's expression, the little hope and fantasy that Avi-Arad had just had disappeared without a trace in an instant, and such a thing as a mortgage was simply impossible.

"Speak. "Avi Arad's heart is sinking.

Earnst said slowly: "I am here to inform Mr. Arad that the $40 million loan that Citibank provided to Marvel Comics will be recovered within this month. ”

Speaking of this, he took out an official document from his briefcase and handed it to Avi Arad: "This is the notice, you still have two weeks to repay the loan." ”

When it saw that "Spider-Man" was a box office hit, Citibank thought that Marvel Comics would come to work, so it provided a loan.

Avi Arad took it and looked at it, his heart continued to sink, touched his bright and shining head, and said with a bit of luck: "No, according to the loan agreement, this loan will not expire until June next year." ”

"There is a supplementary clause in the agreement that Citibank has the right to require Marvel Comics to repay the loan early if its operations exceed the warning line set by Citibank," Fingerster said. ”

Avi Arad's luck vanished, and his heart sank to the bottom.

Finest said solemnly: "Mr. Arad, Marvel Comics is a listed company, according to your first quarter financial report, Marvel Comics has continued to lose money, we seriously doubt Marvel Comics' ability to repay, in order to protect the interests of Citibank, we activate the additional terms of Article 7 and Article 8 of the loan agreement, requiring Comics Comics to repay the loan after two weeks of notice." ”

Avi Arad hurriedly said: "Two weeks is too tight......"

Marvel has some small loans in other areas, but the main debt is this 40 million.

"I'm sorry, Mr. Arad. Fiernst didn't give Avi-Arad any chance to bargain at all: "I just served the notice and didn't have any right to decide. ”

He stood up: "The company still has something to do, so I'll leave first." ”

Without Avi Arad getting up to see him off, Finest walked out of the office quickly and left Marvel Comics directly.

The comic book company can't find investors with enough strength, and it won't be long before it will most likely become history.

Maybe some people will jump out and take over the share of movie copyright shares such as "X-Men" and "Spider-Man".

That would be the best way to avoid the bank taking enforcement measures, which is the last option.

In the office, Avi Arad had a gloomy face, called the female secretary, and said coldly: "Notify the directors of various departments and the board members to have a meeting, I don't care where they are, I must rush back tomorrow, and those who don't come will hand in their resignations by themselves!"

The female secretary was frightened, so she hurried to do her job.

Avi Arad knows very well that Marvel Comics has reached an existential moment.

After calming down a little, he held on to the last bit of hope and dialed Arthur Malcolm again, Twentieth Century Fox was still talking, and there was no definite news for the time being.

With just two weeks to go, Marvel Comics may not be able to wait for Twentieth Century Fox to compromise.

The methods used by Marvel Comics to limit Twentieth Century Fox can take months or even more than half a year to really have an effect.

There is not so much time.

The funds, but a $40 million loan, have pushed the once prosperous comic giants into a desperate situation.

Avi Arad closes his eyes, is Marvel Comics going to take the final step? Sell hard assets? Marvel also has a peripheral toy and doll production factory, which should raise $20 million if it is sold.

But this is not enough, and this is the most important fixed asset like Marvel Comics' headquarters in Manhattan, and if it is sold, it will lose the production capacity of peripheral products, which means that it will be difficult for Marvel Comics to have a chance to turn over in the future.

There is also the office building of the headquarters.

Selling the toy factory and the headquarters office building can raise $40 million, what is the difference between Marvel Comics and the end of the house?

Avi Arad picked up the phone, dialed it, and contacted several Citibank executives, but there was no good news, Citibank's attitude was only one - loan collection!

In Century City, Los Angeles, Jim Bross once again sends Arthur Malcolm out of the meeting room and back to the office.

The assistant followed into the office: "BOSS, there was just a call from New York, and Citibank officially issued a notice to Marvel Comics to draw a loan!"

Jim Bross nodded and said, "Don't relax your PR work over there, it's about the revenue of the two series." He thought for a moment and then said, "Also, the next time Arthur Malcolm comes over again, you will be in charge of the reception, find a way to delay it for a while, and then let him be." ”

The assistant said, "I understand. ”

Despite having everything under control, Jim Prologis said: "Remind them not to take it lightly. ”

What Marvel will face next is not ordinary trouble, and when the time comes, it will have no time to take care of itself, where can it still come to the trouble of Twentieth Century Fox.

When Marvel is in a mess, maybe Twentieth Century Fox can take the opportunity to change the "X-Men" cooperation to "Fantastic Four" similar terms.

It has been proposed that Wolverine and Magneto be made into separate films, so that Twentieth Century Fox would no longer have to think about Marvel's constraints and divisions.

Also in Century City, not far from the newly renamed Relativity Entertainment, the offices of the Pacific Investment Foundation, already occupy half a floor of a building.

No sooner had Ronan walked into the Pacific Investment Fund than Scott Swift greeted him.

The two walked into Scott's office, and Ronan asked directly: "It's okay for the foundation to withdraw about $400 million at present, right?

Scott immediately said, "No problem. He briefly explained: "In the past few months, the Pacific Investment Fund has invested in the Philippines and Thailand, and we have cooperated with many companies and investment institutions in many countries, which has become the best sign, and the return on investment of the foundation is attractive and very stable, attracting a large number of investors." ”

Ronan said, "Scott, well done. ”

Scott said with a smile: "In fact, the most difficult thing is to start, once the foundation opens up the situation, it can give investors a stable return, and then it is much easier to attract latecomers." He asked, "When will the funds be spent?" so that I can mobilize them. ”

Ronan pondered for a moment: "This month at the earliest, not more than next month." ”

Marvel Comics has never been out of the sight of Relativity Entertainment, and Relativity Entertainment is definitely the company that knows Marvel the most after entering the new century.