Chapter 449: The Newhouse Family

Zhao Hongsheng's intention was to find out the truth and reality, whether this floating dream overhaul was as reported by Gu Qingshan, with bright stars and celebrities.

Even if Gu Qingshan blew these words, Zhao Hongsheng couldn't believe it, because it was a bit unexpected for him.

But if it comes out of Wang Ye's mouth, then there is no problem.

Of course, Wang Ye has a bottom in his heart, but since Zhao Hongsheng is here, he must say that the cost of this show is so big, if the city government supports it a little more, it will save a lot of money.

Zhao Hongsheng was very pleased to get Wang Ye's promise, and he was not stingy, and promised that the city government would bear 60% of the cost of this catwalk, and there was no upper limit.

Of course, this does not mean that THE TOP SHOP CAN SPEND MONEY INDISCRIMINATELY, AND THE AUDIT OF THE MUNICIPAL FINANCE DEPARTMENT IS NOT VEGETARIAN.

"Just be bold and do it, the bigger the scene, the better, and you don't have to worry about the cost. ”

This is a sentence left by Zhao Hongsheng before leaving.

Wang Ye relayed this sentence to Ye Caini and Li Qinghuan word for word.

……

In addition to the things that are busy with the big show here, on the other hand, Meigo.com is not idle.

Xu Jing has formed an acquisition team and formally approached Condé Nast Group.

Fortunately, with the rapid decline of print media in recent years, Condé Nast's transformation has not been very smooth.

Not only did they cut their office space in half, but they also began to make massive layoffs, all in an effort to cut expenses and keep themselves afloat.

In recent years, as the global media has undergone a major transformation, Condé Nast has not been immune to the impact of digital media, and has implemented a number of measures to cut costs, such as discontinuing the print editions of magazines such as Teen Vogue and Self, laying off employees, and consolidating departments, but the losses continue to widen.

In 2012, Condé Nast's print magazine advertising revenue fell sharply, resulting in a full-year loss of $120 million for Condé Nast's U.S. business. Stop-outs will be made for the sale of three magazines, Brides, Golf Digest and W.

In January 2013, London, England-based Condé Nast International filed a filing showing that the company lost nearly £14 million in 2012 as a result of an internal restructuring. It was also Condé Nast International's first loss since 1995.

Condé Nast is currently betting heavily on the digitization and globalization of its content. In 2013, Condé Nast also established an international center for its flagship magazine brand, Vogue, based in London, to provide content sharing services to international editions beyond the magazine's American edition.

In this situation, the controlling shareholders of Condé Nast Group, the Newhouse family, are also a little unbearable.

The chairman of the board, Bob Newhouse, also announced that it would sell some of its less important magazine outlets.

Unfortunately, no one was willing to make a bid.

Of course, Bob Newhouse will not give up the olive branch thrown by the United States shopping network, and he sincerely invited the American shopping acquisition team to go to New York for an interview. So that both sides can sit down and have an in-depth discussion on this matter.

Xu Jing personally led the acquisition team and flew to New York.

On the side of Meigou.com, there are really many talents, such as Li Xin, Zhou Da, Li Guanghua and others, all of whom are top talents in the financial industry.

When talking about an acquisition or something, you don't need to ask outsiders for help, just send a few people to be competent.

Because Condé Nast Group is an American company, Zhou Da was also involved this time. The Sequoia Capital he represents is also deeply rooted and well-connected in the United States.

When talking about acquisitions, it can help a lot.

Bob Newhouse is certainly no stranger to U.S.com, a company listed on the NASDAQ in the United States.

It is also a star stock of the NASDAQ!

Meigou has only been listed since its listing, and if you look at it on a monthly basis, the stock price has never fallen and has been rising.

The current market value has already exceeded 100 billion US dollars, even in the United States, it is one of the few large enterprises.

Now that such a giant company wants to buy Condé Nast Group, then the Newhouse family must of course be cautious.

Although Bob didn't think about selling the entire group, it was definitely the best thing to get into a relationship with Meigou and let Meigou take a stake in Condé Nast.

The reason why Condé Nast Group's digital transformation has not been smooth is because the company has no Internet genes.

For hundreds of years, they have been doing paper media, and they really don't adapt to the sudden transformation into an Internet company.

It's not something that can be done with one or two executives, or with one or two new departments.

The most fundamental reason is actually from the board of directors of the group and from him, the chairman.

Bob is in his sixties this year, and although he has been trying to learn new things, this era is changing so fast that he really can't keep up.

If you don't want the family business to die in your own hands, then the best way is to bring in fresh blood and hand it over to a person or company who can lead Condé Nast to glory again.

In his opinion, perhaps Meigou is such a suitable company.

Therefore, Bob's purpose is to let Meigou take a stake in Condé Nast Group. In this way, killing two birds with one stone, not only did not completely lose this industry, but also could revive the glory under the hands of professional Internet masters such as Meigo.com.

As for the need to give up some shares, Lao Mei never cared about this!

……

After the two teams met, Bob was very sincere and said straight to the point: "On behalf of the Newhouse family, I would like to welcome the friends of Meigo.com! Before you arrived, our family had already held a meeting and discussed, and we agreed to take a stake in Condé Nast Group!"

Xu Jing is not surprised, in comparison, the volume of Meigou is much larger than Condé Nast.

If Condé Nast is listed now, it may not even have a market value of 10 billion US dollars, but Meigou.com has a market value of more than 100 billion!

Moreover, Wang Ye analyzed at the board of directors that Condé Nast now needs a partner like Meigo.com.

Now that the other party has agreed to buy shares, the only question now is how much shares the other party can give up and how much it will cost Meigo.com.

"Mr. Bob, have you discussed how many shares you are expected to sell?" asked Xu Jing with a smile.

"Up to 45%!" replied Bob without hesitation.

This figure is a reasonable ratio that the Newhouse family discussed.

Because Condé Nast Group is not listed, and all the company's shares are in the hands of members of the Newhouse family, 45% is now transferred, so the Newhouse family still holds 55% and is still the controlling shareholder.

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